JSC “Olainfarm” statutes new edition (project)

28/12/2005

1. Firm


Company’s firm is joint stock company „Olainfarm”, hereinafter called

“Company”.

2. Fixed capital of the Company

2.1. Fixed capital of the Company is 12 252 365 LVL (twelve millions two

 hundred fifty two thousand three hundred sixty five lats). Fixed capital

 of the Company consists of 12 252 365 (twelve millions two hundred fifty

 two thousand three hundred sixty five) shares. Nominal value of one

share is LVL 1,- (one lat).

2.2. 2 994 900 (two millions nine hundred ninety four thousand nine

hundred) of Company’s shares are bearer shares and are in public circulation.

2.3. 9 257 465 (nine millions two hundred fifty seven thousand four hundred

 sixty five) of Company’s shares are registered shares.

2.4. All shares provide equal rights to receive dividends, liquidation quota

and to vote on shareholders meeting.

2.5. All shares are dematerialized.

3. Management Board

Company’s Management Board consists of seven members of the Management Board.

 Chairperson of the Management Board (president) has unlimited rights to

 represent the Company separately. Remaining members of the Management Board

 have the right to represent the Company only jointly.

4. Board of Advisers

Company’s Board of Advisers consists of five members of Board of Advisers.

5. Other terms

When managing emission the Company may foresee in the terms of amplification

of fixed capital that in case of failing to cover the full price of shares

shareholder receives only number of shares proportionate to the paid sum.