26/10/2017
Decisions of the Annual General Meeting , held on 26 October 2017
The Annual General Meeting (hereinafter – the Meeting) of AB „Linas Agro Group“ (hereinafter – the Company) was held on 26 October 2017.
The total number of the Company’s shares is 158,940,398, the number of shares granting voting rights is 158,158,426, and the own shares in amount of 781,972 acquired by the Company do not grant voting rights.
In total 15 Company’s shareholders, who owned shares of the Company at the end of the Accounting day of the Meeting (19 October 2017), participated in the Meeting having 131,239,982 share votes, which amounted to 82.98 percent of the total number of the Company’s share votes.
5 (five) duly filled General Voting Ballots were presented to the Meeting.
Four Board members of the Company took place in the Meeting: Darius Zubas (Chairman of the Board, the Head of the Company (CEO) – The Managing Director), Tomas Tumėnas (Finance Director of the Company (CFO) and Vytautas Šidlauskas (Deputy Chairman of the Board).
The quorum existed.
Decisions of the Meeting:
- Presentation of the Company’s Audit committee activity report.
Decision: Presented (enclosed). No voting.
- Presentation of the independent auditors’ report.
Decision: Presented (enclosed). No voting.
- Presentation of the consolidated annual report of the Company for the financial year 2016/2017.
Decision: Presented (enclosed). No voting.
- Approval of the consolidated and the Company’s set of financial statements for the financial year ended 30 June, 2017.
Decision: Approve the consolidated and the Company‘s set of financial statements for the financial year ended 30 June, 2017 (enclosed).
Results of voting:
FOR – 126,443,910 votes (including 100,282,846 share votes of shareholders who voted in advance).
AGAINST – 4,624,744 votes (including 4,624,744 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: Approve the Distribution of the Company’s Profit:
|
1) |
Retained earnings – profit (loss) of the previous financial year at the end of the accounting financial year |
EUR 30,508,740 |
|
2) |
Net profit (loss) of the financial year |
EUR 4,657,881 |
|
3) |
The profit (loss) of the accounting financial year not recognized in the profit (loss) account |
(EUR 2,316) |
|
4) |
The transfers from the reserves |
EUR 245,000 |
|
5) |
The shareholder‘s contributions to cover the losses of the Company (if shareholders decided to cover all or part of losses) |
– |
|
6) |
The total profit (loss) available for appropriation |
EUR 35,409,305 |
|
7) |
The part of the profit allocated to the legal reserve |
EUR 233,000 |
|
8) |
The part of the profit allocated to the reserve of the own share acquisition |
– |
|
9) |
The part of the profit allocated to the other reserves |
– |
|
10) |
The part of the profit allocated for the payment of dividends* |
EUR 1,202,004 |
|
11) |
The part of the profit allocated for payment of annual bonuses to the Board, employees and other purposes |
EUR 400,655 |
|
12) |
Retained earnings – profit at the end of the financial year carried forward to the next financial year |
EUR 33,573,646 |
* allocate EUR 1,202,004 for the dividend payment for the financial year ended on 30 June, 2017, which consist EUR 0.0076 with taxes per one share of the Company (calculated without own shares acquired by the Company).
Results of voting:
FOR – 131,068,654 votes (including 104,907,590 share votes of shareholders who voted in advance).
AGAINST – 171,328 votes (including 171,328 share votes of shareholders who voted in advance).
DID NOT VOTE – no votes.
- Election of the Company‘s auditor for the financial year 2017/2018 OF THE COMPANY and establishment of the payment for the services.
Decision:
6.1. Elect Auditor of the Company “ERNST & YOUNG BALTIC“ (code 110878442, address Subačiaus St. 7, Vilnius, Lithuania);
6.2. Establish the payment for services not more than EUR 30,000.00 (thirty thousand euro) (VAT excluded) for the audit of the Company’s and consolidated financial statements for the financial year 2017/2018;
6.3. Entrust the Managing Director of the Company to conclude and sign the agreement with elected Auditor.
Results of voting:
FOR – 131,239,982 votes (including 105,078,918 share votes of shareholders who voted in advance).
AGAINST – no votes.
DID NOT VOTE – no votes.
Sincerely
Chairman of the Board Darius Zubas
