Decisions taken on JSC Olainfarm AGM convened on July 29, 2005

28/12/2005

Decisions taken on JSC Olainfarm AGM convened on July 29, 2005:


 

1. Management Board’s report on results of activity in year 2004.

Decision taken:

Accept to the knowledge report of the Management Board concerning results

of activities in year 2004.

 

2. Approval of audited Annual Report of year 2004.

Decision taken:

To approve the JSC “Olainfarm” audited 2004 Annual Report.

 

3. Approval of audited Consolidated Annual Report of year 2004.

Decision taken:

To approve the JSC “Olainfarm” audited 2004 Consolidated Annual Report.

 

4. Election of certified auditor for year 2005.

Decision taken:

To elect sworn auditor Diāna Krišjāne (“Ernst & Young Baltic” Ltd.) to

 audit financial statements of JSC “Olainfarm” for year 2005 (License No. 124).

 

5. Management Board’s report on budget and activity plan for year 2005.

Decision taken:

Accept to the knowledge report of the Management Board concerning activity

 plan and budget of JSC “Olainfarm” for year 2004, by defining the following

positions:

 




















Net turnover              


11 480 000


Gross profit              


3 178 477


Net operating income


1 063 529


Net income              


343 000

 

6. On increase of fixed capital.

Decision taken:

To increase the equity capital of JSC „Olainfarm” by issuing 3’000’000 (three

 millions) dematerialized registered shares with unlimited right of voting, at

 face value LVL 1,- (one Latvian lat) per share. To define the equity capital

of JSC “Olainfarm”, after the registration of emission in the Commercial

 Register is being completed, will be LVL 13’252’365 (thirty millions two

hundred fifty two thousands three hundred sixty five Latvian lats), consisting

 of  13’252’365 (thirty millions two hundred fifty two thousands three hundred

 sixty five) shares.

 

7. Approval of rules of increase of fixed capital.

Decision taken:

To approve the terms of the rules of increase of fixed capital prepared by the

Menagement Board. To entitle the Management Board to approve the circular of

 Company, to submit the circular for registration in the Financial and Capital

 market commission of the Republic of Latvia, to approve the price of one share,

 as well as to conduct all the other necessary actions for increase of fixed

 capital.

 

8. Approval of new edition of the Statutes.

Decision taken:

To approve the Amendments to the Articles of JSC „Olainfarm” Statutes and the

new edition of the Statutes.