Panevezys, Lithuania, 2014-10-30 15:00 CET (GLOBE NEWSWIRE) --
Decisions of the Annual General Meeting of AB Linas Agro Group Shareholders, held on 30 October 2014
The Annual General Meeting (hereinafter – the Meeting) of AB „Linas Agro Group“ (hereinafter – the Company) was held on 30 October 2014.
The total number of the Company’s shares is 158,940,398, which grant 158,151,426 votes, and the own shares in amount of 788,972 acquired by the Company do not grant voting rights.
In total 11 Company’s shareholders, who owned shares of the Company at the end of the Accounting day of the Meeting (23 October 2014), participated in the Meeting having 113 354 399 share votes, which amounted to 71.67 percent of the total number of the Company’s share votes.
The quorum existed.
Decisions of the Meeting:
1. PRESENTATION OF THE COMPANY’S AUDIT COMMITTEE ACTIVITY REPORT
Decision. Presented (enclosed). No voting.
2. PRESENTATION OF THE INDEPENDENT AUDITORS’ REPORT
Decision. Presented (enclosed). No voting.
3. PRESENTATION OF THE CONSOLIDATED ANNUAL REPORT OF THE COMPANY FOR THE FINANCIAL YEAR 2013/2014
Decision. Presented (enclosed). No voting.
4. APPROVAL OF THE CONSOLIDATED AND THE COMPANY’S SET OF FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE, 2014
Decision: To approve the consolidated and the Company‘s set of financial statements for the financial year ended 30 June, 2014 (enclosed).
Results of voting:
FOR – 113 182 277 votes (including 89 475 443 share votes of shareholders who voted in advance).
AGAINST – 794 votes (including 794 share votes of shareholders who voted in advance).
DID NOT VOTE – 171 328 votes (including 171 328 share votes of shareholders who presented the General Voting Ballot in advance).
5. APPROVAL OF THE DISTRIBUTION OF THE COMPANY’S PROFIT
Decision:
To approve the Distribution of the Company’s Profit:
- Retained earnings – profit (loss) of the previous financial year at the end of the accounting financial year - LTL 59,200,718
- Net profit (loss) of the financial year - LTL 23,754,749
- The profit (loss) of the accounting financial year not recognized in the profit (loss) account – 0
- The transfers from the reserves - LTL 18,712
- The shareholder‘s contributions to cover the losses of the Company (if shareholders decided to cover all or part of losses) – 0
- The total profit (loss) available for appropriation - LTL 82,974,179
- The part of the profit allocated to the legal reserve - LTL 1,187,737
- The part of the profit allocated to the reserve of the own share acquisition – 0
- The part of the profit allocated to the other reserves – 0
- The part of the profit allocated for the payment of dividends* - LTL 4,997,585
- The part of the profit allocated for payment of annual bonuses to the Board, employees and other purposes –
- Retained earnings – profit at the end of the financial year carried forward to the next financial year - LTL 76,788,857
* to allocate LTL 4,997,585 (EUR 1,447,400.66) for the dividend payment for the financial year ended on 30 June, 2014, which consist LTL 0.0316 (EUR 0.00915) with taxes per one share of the Company (calculated without own shares acquired by the Company).
Results of voting:
FOR – 113 353 605 votes (including 89 646 771 share votes of shareholders who voted in advance).
AGAINST – 794 votes (including 794 share votes of shareholders who voted in advance).
DID NOT VOTE – 0 votes.
6. ELECTION OF THE COMPANY‘S AUDITOR FOR THE FINANCIAL YEAR 2014/2015 OF THE COMPANY AND ESTABLISHMENT OF THE PAYMENT FOR THE SERVICES
Decision:
6.1. To elect Auditor of the Company “ERNST & YOUNG BALTIC“ (code 110878442, address Subaciaus St. 7, Vilnius, Lithuania);
6.2. To establish the payment for services not more than 30,000 (thirty thousand) euro (VAT excluded) for the audit of the Company’s and consolidated financial statements for the financial year 2014/2015;
6.3. To charge the Managing Director of the Company to conclude and sign the agreement with elected Auditor.
Results of voting:
FOR – 113 353 605 votes (including 89 646 771 share votes of shareholders who voted in advance).
AGAINST – 794 votes (including 794 share votes of shareholders who voted in advance).
DID NOT VOTE – 0 votes.
7. ELECTION MEMBERS OF THE AUDIT COMMITTEE OF THE COMPANY AND APPROVAL OF THE REGULATION OF THE AUDIT COMMITTEE
Decision:
7.1. To elect members of the Audit Committee of the Company for new term of office of 4 (four) years
1. Artūras Pribusauskas,
2. Kristina Prūsienė.
3. Andrius Drazdis (independent member of the Audit Committee of the Company).
7.2. To approve the Regulations of Activity of the Audit Committee (enclosed);
7.3. To set the salary equal to LTL 1,500 (one thousand five hundred litas) per year to Andrius Drazdis, independent member of the Company’s Audit Committee.
Results of voting:
FOR – 113 353 605 votes (including 89 646 771 share votes of shareholders who voted in advance).
AGAINST – 794 votes (including 794 share votes of shareholders who voted in advance).
DID NOT VOTE – 0 votes.
Sincerely,
Managing Director Darius Zubas
