OREANDA-NEWS. August 03, 2011. The annual shareholders’ meeting of joint stock company “Latvijas kugnieciba” (LK) according to the law considered issues put on the previously announced agenda: approval of annual reports for the year 2010, election of auditor for the audit of annual reports for the year 2011. The shareholders’ meeting also elected new Supervisory Council of LK, which will consist of 11 shareholder representatives.

The shareholders’ meeting decided to take notice of the report of the Supervisory Council and of the report of the Audit Committee of joint stock company “Latvijas kugnieciba”, as well to approve the annual report of joint stock company “Latvijas kugnieciba” for 2010 and the consolidated annual report of joint stock company “Latvijas kugnieciba” for 2010.

The shareholders’ meeting decided to cover loses of joint stock company “Latvijas kugnieciba” of 2010 in the amount of 669’063 LVL from profit of future periods.

Shareholders decided to elect audit company “PricewaterhouseCoopers” Ltd. (commercial company licence No. 5) as auditor of the annual reports of joint stock company “Latvijas kugnieciba” for the year 2011.

Shareholders decided to authorize the Management Board of joint stock company “Latvijas kugnieciba” to conclude a contract with “PricewaterhouseCoopers” Ltd. on audit of the annual reports of joint stock company “Latvijas kugnieciba” for 2011, by fixing a remuneration within the approved budget of 2011 of joint stock company “Latvijas kugnieciba”.

As of July 27, 2011 the following persons have been recalled from LK Supervisory Council: Simon Boddy, Mikhail Dvorak, Christophe Theophanis Matsacos, Rubil Yilmaz, Vladimir Egger, Javed Ahmed, Mark Morrel Ware, Olga Petersone, Olegs Stepanovs, Martins Kveps, Serguei Choutov.

As of July 27, 2011 the following persons have been appointed to LK Supervisory Council: Simon Boddy, Mikhail Dvorak, Christophe Theophanis Matsacos, Rubil Yilmaz, Vladimir Egger, Javed Ahmed, Mark Morrel Ware, Jaakko Sakari Mikael Salmelin, Olga Petersone, Olegs Stepanovs, Martins Kveps.

Shareholders’ meeting also assigned Simon Boddy to call the first meeting of the newly elected LK Supervisory Council, inform Supervisory Council members about the time and place of the meeting, set agenda for the first meeting of the newly elected LK Supervisory Council, open the meeting, as well as perform other necessary activities related to calling and holding of the first meeting of the newly elected LK Supervisory Council.

Simon Boddy informed that it is planned to call the first meeting of the newly elected LK Supervisory Council on August 31, 2011; members of the Supervisory Council will be informed properly. 

Shareholders decided to fix a remuneration fund for Supervisory Council members for fulfilling duties of LK Supervisory Council members in amount of LVL 0.00 (zero lats) per year.

Shareholders representing 93.28 % of shares with voting rights participated in the meeting.