Decisions of annual general meeting

Olainfarm 

28.04.2012 09:10
---------------------------------------------------------------------------

Olaine, 2012-04-28 09:10 CEST (GLOBE NEWSWIRE) -- 

          Name of securities: Public shares of JSC 'Olainfarm'
ISIN code: LV000100501
Paid - in capital: 14 085 078 LVL
Date of the Annual General Meeting: April 27th, 2012, on 11.00 a.m.
Venue: Olaine, Rupnicu iela 5.


The following decisions have been adopted by the annual general meeting of
shareholders: 


1.   Report of the Board on results of operations in 2011.

To take notice of the Report of the Board on results of operations in 2011.

Voting: the resolution was adopted unanimously.


2.   Report of the Council on results of operations in 2011.

To take notice of the Report of the Council on results of operations in 2011.

Voting: the resolution was adopted unanimously.


3.   Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted unanimously.


4.   Approval of the Audited Annual Report for 2011.

 To approve the Audited Annual Report of JSC 'Olainfarm' for 2011.

 Voting: the resolution was adopted unanimously.


5.   Approval of the Audited Consolidated Annual Report for 2011.

To approve the Audited Consolidated Annual Report of JSC 'Olainfarm' for 2011.

Voting: the resolution was adopted unanimously.


6.   Distribution of profit of 2011.

 6.1. To use part of the profit of JSC 'Olainfarm' in amount of 867 793,50 lats
(1234758,91 euro) to pay dividends to shareholders of JSC 'Olainfarm', (ISIN
code of the shares LV0000100501) paying 6,16 santims per one share, but part of
the profit in amount of 6 074 554,50 lats (8 643 312,36 euro) to reinvest in
development of JSC 'Olainfarm'. 

 Voting: the resolution was adopted with the necessary majority of votes.

 6.2. Set August 03rd, 2012, as a record date for dividends and August 08th,
2012, as the date of payment of dividends. 

 Voting: the resolution was adopted with the necessary majority of votes.


7.   Report of the Board on budget and on planned operations in 2012.

 To take notice of Report of the Board on budget and on planned operations in
2012, which include Company's unconsolidated turnover forecast for 2012 in
amount of 40,00 million lats (56,91 million Euro), and JSC 'Olainfarm'
consolidated turnover forecast for 2012 in amount of 48,00 million lats (68,3
million Euro); Forecast of unconsolidated profit of JSC 'Olainfarm' is 8,3
million lats (11,81 million Euro), but consolidated profit is 8,6 million lats
(12,24 million Euro). 

 Voting: the resolution was adopted unanimously.


8. Election of the Certified Auditor for 2012.

8.1. Elect SIA 'Ernst & Young Baltic' (license No.17, unitary registration No.
40003593454) to be the certified auditor of JSC 'Olainfarm' in 2012. 

 Voting: the resolution was adopted unanimously.

 8.2. Set the total remuneration of certified auditor in accordance with the
approved budget. 

 Voting: the resolution was adopted unanimously.


9.   Election of the Auditing Committee.

9.1. Elect Zanna Karaseva, personal code 150775-10415, in the Auditing
Committee of JSC 'Olainfarm'. 

Voting: the resolution was adopted unanimously.

9.2. Set the monthly remuneration of the members of the Auditing Committee at
500 Ls. 

Voting: the resolution was adopted unanimously.


10. Elections of the Council.



  1. Elect the Council of JSC 'Olainfarm' consisting of the following members
     for the term of five years, setting that this terms commences at April
     28th, 2012: Valentina Andrejeva; Elena Dudko; Aleksandrs Raicis; Volodimirs
     Krivozubovs; Talis Talents.

Voting: the following number of votes were cast for each candidate:

for V.Andrejevu - 2049476 votes, or 20,02% of votes present;

for E.Dudko - 2050712 votes, or 20,05% of votes present;

for A.Raicis - 2034284 votes, or 19,87% of votes present;

for V.Krivozubovs - 2050524 votes, or 20,03% of votes present;

for T.Talents - 2050418 votes, or 20,03% of votes present.



  1. Set the total monthly remuneration of all the Supervisory Council in the
     amount of not more than Ls 6000.

Voting: the resolution was adopted unanimously.





In Olaine, on April 27th, 2012


         Information prepared by:
         Salvis Lapins
         JSC 'Olainfarm'
         Member of the Management Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Phone: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: Salvis.Lapins@olainfarm.lv
News Source: NASDAQ OMX



28.04.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Olainfarm
              
               
              Latvia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LV0000100501
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------