Kauno r., 2018-05-03 14:20 CEST (GLOBE NEWSWIRE) -- During annual general meeting of shareholders of AB East West Agro these decisions were taken:
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Resolution (1) Approval of the Company’s annual report for the year 2017 |
| To approve the Company’s annual report for the year 2017. |
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Resolution (2) Approval of the Company’s audited set of annual financial statements for the year 2017 |
| To approve the Company’s audited set of annual financial statements for the year 2017. |
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Resolution (3) Distribution of the Company’s profit (loss) for the year 2017 |
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To distribute profit (loss) of the Company for the year 2017 as follows: (a) Retained profit (loss) brought forward from the previous financial year at the end of the reporting financial year: EUR 290,900; (b) Net profit (loss) of the reporting financial year: EUR 898,263; (c) Profit (loss) of the reporting financial year not recognized in the profit (loss) statement: EUR 0; (d) Transfers from reserves: EUR 0; (e) Shareholders’ contributions to cover the losses of the Company: EUR 0; (f) Total profit (loss) available for distribution: EUR 1,189,163; (g) Portion of profit allocated to the statutory reserve: EUR 12,500; (h) Portion of profit allocated to the reserve for the purchase of own shares: EUR 0; (i) Portion of profit allocated to other reserves: EUR 0; (j) Portion of profit allocated for the payment of dividends: EUR 250,000 (Dividends are allocated for 625,000 shares, i.e. EUR 0.4 per share); (k) Portion of profit allocated for the payment of annual bonuses to members of the Management Board, payment of incentives to employees and other purposes: EUR 0; (l) Retained profit (loss) at the end of the reporting financial year brought forward to the following financial year: EUR 926,663. Persons who are shareholders of the Company at the end of the rights accounting day – 17 May 2018, i.e. at the end of the 10th business day after the date of the Meeting having adopted the respective resolution, shall be entitled to dividends. |
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Resolution (4) Election of the auditing firm responsible for the audit of the Company’s set of annual financial statements for the financial year ending on 31 December 2018 |
| To elect Moore Stephens Vilnius, UAB, legal entity code 123903963, registered office at J. Kubiliaus St. 6, Vilnius, Lithuania as the auditing firm to carry out the audit of the Company’s set of the annual financial statement for the financial year ending on 31 December 2018. To authorize the Managing Director of the Company to sign the audit services agreement with the abovementioned auditing firm. |
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Resolution (5) Increase of the share capital of the Company |
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To increase the share capital of the Company from EUR 625,000 to EUR 1,000,000 (the “Capital Increase”). The total Capital Increase amount of the Company shall be EUR 375,000. To determine that: (a) The share capital of the Company shall be increased by issuing 375,000 new ordinary registered book-entry shares of the Company of EUR 1 par value each (the “New Shares”). (b) The share capital shall be increased out of the Company’s funds (retained profit). The share capital shall be increased by issuing New shares that shall be allotted to the Company’s shareholders for no consideration. (c) The shareholders of the Company shall be entitled to receive new ordinary shares for no consideration in proportion to the nominal value of the shares owned by them at the end of the rights accounting day. In view of the fact that the shares of the Company are publicly offered in line with Article 4(2)(6) of the Law on Securities of the Republic of Lithuania and the Bank of Lithuania Resolution, no persons entitled to the right of pre-emption to acquire the New Shares are specified. |
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Resolution (6) Amendment of the Articles of Association |
| In view of the adopted decisions set out above, to amend the Articles of Association of the Company and approve a new wording of the Articles of Association. |
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Resolution (7) Election of a member of the Management Board who will replace the resigned member of the Management Board |
| To elect Linas Strėlis, a citizen of the Republic of Lithuania, as a new member of the Management Board of the Company, who shall commence in office upon being so elected and will continue in office until the end of the tenure of the Management Board. |
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Resolution (8) Authorisations |
| To authorise and obligate the Managing Director of the Company Gediminas Kvietkauskas (or any other person appointed by him) to notify the Register of Legal Entities of the Republic of Lithuania about the election of the new member of the Management Board, to sign the new wording of the Articles of Association of the Company, to notify AB Nasdaq Vilnius, Central Securities Depository of Lithuania and the Register of Legal Entities of the Republic of Lithuania about the adopted decision to increase the share capital, after the registration of the Capital Increase within the Register of Legal Entities of the Republic of Lithuania to provide all relevant documents to the Bank of Lithuania and Central Securities Depository of Lithuania, as well as to perform all other actions related to the implementation of the abovementioned decisions. |
Danas Šidlauskas
Chairman of the board
danas@ewa.lt