OREANDA-NEWS. OLYMPIC ENTERTAINMENT GROUP AS convenes annual General Meeting of shareholders that will be held on 16 June 2016 at 15:00 at the Conference centre of Hilton Tallinn Park (Kreutzwaldi 23, Tallinn, Estonia). 

Agenda for the annual General Meeting is the following:

1. Approving the Company’s 2015 consolidated annual report;
2. Deciding on the distribution of profit;
3. Appointing the auditor for auditing the financial year covering the period from 01.01.2016 - 31.12.2016.

The Supervisory Board of the Company has approved the agenda of the General Meeting as presented by the Management Board and makes the shareholders the following proposals:

1. Approving the Company’s 2015 consolidated annual report

The Supervisory Board of the Company makes to the General Meeting of the Company a proposal to vote in favour of the approval of the consolidated annual report of the Company for the financial year of 2015, according to which the net profit amount is 25,718,587.02 Euros.

2. Deciding on the distribution of profit

The Supervisory Board of the Company makes to the General Meeting of the Company a proposal to vote in favour of approving the proposal on distribution of profit of the financial year of 2015 as follows:

2.1   Net profit amount: 25,718,587.02 Euros;
2.2   To pay a dividend of 0.15 Euros per share, altogether in the amount of 22,768,680.90 Euros, whereas 0.10 Euros per share shall be paid to the shareholders on 15 July 2016 and 0.05 Euros per share shall be paid to the shareholders on 14 October 2016;
2.3   Transfer to the statutory reserve capital: 1,285,929.35 Euros;
2.4   The remaining balance of retained earnings after the distribution of profit: 27,766,116.39 Euros.
2.5   The list of shareholders who are entitled to receive dividends shall be closed as follows:
2.5.1   The list of shareholders entitled to receive the dividend of 0.10 Euros per share that will be paid on 15 July 2016 shall be closed on 14 July 2016 as at 11:59 PM. The dividends of 0.10 Euros per share shall be paid to the shareholders on 15 July 2016 by a transfer to the shareholder’s bank account.
2.5.2   The list of shareholders who are entitled to receive the dividend of 0.05 Euros per share that will be paid on 14 October 2016 shall be closed on 13 October 2016 as at 11:59 PM. The dividends of 0.05 Euros per share shall be paid to the shareholders on 14 October 2016 by a transfer to the shareholder’s bank account.

3. Appointing the auditor for auditing the financial year covering the period from 01.01.2016 - 31.12.2016

The Supervisory Board of the Company makes to the General Meeting of the Company a proposal to vote in favour of the proposal on appointing the auditor of the Company upon the following terms and conditions:

3.1   To appoint AS PricewaterhouseCoopers (registry cod   e 10142876) to serve as the auditor of the Company.
3.2   AS PricewaterhouseCoopers shall audit the Company’s annual report for the financial year from 01.01.2016 - 31.12.2016.
3.3   For auditing the annual reports, the Company shall pay AS PricewaterhouseCoopers a fee in the amount agreed upon in the contract concluded with AS PricewaterhouseCoopers on rende   ring auditing services.