Resolutions of the Annual Shareholders’ Meeting of Latvenergo AS


Riga, 2017-05-11 07:54 CEST (GLOBE NEWSWIRE) -- The Annual Shareholders’ Meeting of Latvenergo AS was held on 10 May 2017 at 15:00 at the premises of Latvenergo AS at 12 Pulkveža Brieža Street, Riga.

The resolutions adopted at the Annual Shareholders’ Meeting:

1.    To approve Latvenergo konsolidētais 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

2.      To approve „Latvenergo Consolidated Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

3.      To approve “AS “Latvenergo” 2016.gada pārskats”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

4.      To approve “Latvenergo AS Annual Report 2016”, financial statements are prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

5.1. To approve the distribution of Latvenergo AS profit for the year 2016 of EUR 137,440,872 as follows:

1)   EUR 73,021,305 to pay out to the state in dividends;

2)   EUR 64,419,567 to retain and transfer to Latvenergo AS reserves with a purpose to decide on their pay-out to the state in dividends, by adopting such decision along with decision on distribution of Latvenergo AS profit for the year 2017;

5.2. To pay out in dividends EUR 17,120,530, which have been transferred from Latvenergo AS profit for the year 2015 to Latvenergo AS reserves with a purpose to decide on their pay-out in dividends, by adopting such decision along with a decision on distribution of Latvenergo AS profit for the year 2016;

6.      To appoint ERNST & YOUNG BALTIC SIA to conduct the audit of Latvenergo AS for the year 2017, determining a remuneration of the auditor up to EUR 37,768 excl. VAT.

 

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: 
investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).