The Board of Šiaulių Bankas AB has prepared the draft resolutions to be submitted to the General Shareholders' Meeting to be held on 27/03/2007. The draft resolutions suggest the following: - to approve the bank's financial statements of 2007 as well as consolidated financial statements; - to approve the distribution of profit according to which LTL 1.960 thou (EUR 568 thou) of the distributable profit shall be allocated to the mandatory reserve, LTL 1200 thou (EUR 348 thou) to bonuses for the members of the Bank's Council and the Bank's Board, which are accumulated in expenses of 2007, and LTL 3.221 thou (EUR 933 thou) to dividends (2 per cent form the par value of share or LTL 0,02 per each ordinary registered share with the par value of LTL 1); - to increase the bank's authorized capital by LTL 19.324.021 (EUR 5.596.623) from the capital reserve by issuing 19.324.021 ordinary registered share with the par value of LTL 1 and distributing the issued shares to the shareholders free of charge in proportion to the total value of the shares possessed on the meeting day (12 % to each); - to approve the Bank's Charter amended due to the increase of the authorized capital from the bank's funds and formation of the general reserve to cover possible loan losses and to authorize the Chairman of the Bank's Board Algirdas Butkus to sign them; - to choose an audit agency to perform the audit on the bank's financial statements of 2008 and 2009, which shall provide the bank with the most acceptable conditions of audit services and to determine the payment conditions for audit services. Director of the Treasury Department Pranas Gedgaudas Tel.: +370 41 595653
Draft Resolutions to the Ordinary General Shareholders' Meeting to be held on 27/03/2008
| Source: Siauliu Bankas