The Annual General Meeting
23/11/2020
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Decisions of the Annual General Meeting of shareholders
The Annual General Meeting (hereinafter – the Meeting) of AB Linas Agro Group (hereinafter – the Company) was held on 23 November 2020.
The total number of the Company’s shares is 158,940,398, the number of shares granting voting rights is 158,170,426, and the own shares in amount of 769,972 acquired by the Company do not grant voting rights.
In total 32 Company’s shareholders, who owned shares of the Company at the end of the Accounting day of the Meeting (16 November 2020), participated in the Meeting having 149,979,570 share votes, which amounted to 94.82 percent of the total number of the Company’s share votes. All shareholders that participated at the Meeting voted in advance in writing by filling in General Voting Ballots.
The quorum existed.
Decisions of the Meeting:
- Presentation of the Company’s Audit Committee Activity Report.
Presented (enclosed). No voting. - Presentation of the independent auditors’ report.
Presented (enclosed). No voting. - Presentation of the Consolidated Annual Report of the Company for the financial year 2019/2020.
Presented (enclosed). No voting. - Approval of the consolidated and the Company’s set of financial statements for the financial year ended 30 June, 2020.
Approve the consolidated and the Company‘s set of financial statements for the financial year ended 30 June, 2020 (enclosed).
Results of voting:
FOR – 149,979,570 votes (all voted in advance).
AGAINST – 0.
DID NOT VOTE – 0. - Approval of the Distribution of the Company’s Profit (Loss).
Approve the Distribution of the Company’s Profit (Loss):
| 1) | Retained earnings – profit (loss) of the previous financial year at the end of the accounting financial year | EUR 34,210,176 |
| 2) | Net profit (loss) of the financial year | EUR 1,229,410 |
| 3) | The profit (loss) of the accounting financial year not recognized in the profit (loss) account | EUR (1,157) |
| 4) | The transfers from the reserves | EUR 5,000,000 |
| 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 40,438,429 |
| 7) | The part of the profit allocated to the legal reserve | EUR 61,414 |
| 8) | The part of the profit allocated to the reserve of the own share acquisition | – |
| 9) | The part of the profit allocated to the reserve of shares issue | – |
| 10) | The part of the profit allocated to the other reserves | – |
| 11) | The part of the profit allocated for the payment of dividends | – |
| 12) | The part of the profit allocated for payment of annual bonuses to the Board, employees and other purposes | – |
| 13) | Retained earnings – profit at the end of the financial year carried forward to the next financial year | EUR 40,377,015 |
Results of voting:
FOR – 149,979,570 votes (all voted in advance).
AGAINST – 0.
DID NOT VOTE – 0.
- Election of the Company‘s auditor for the financial year 2020/2021 of the Company and establishment of the payment for the services.
6.1. Elect KPMG Baltics, UAB (code 111494971, Konstitucijos pr. 29, Vilnius, Lithuania) the Auditor of the Company;
6.2. Establish the payment for services not more than EUR 23,400 (twenty-three thousand four hundred euros) for the audit of the Company’s financial statements for the financial year 2020/2021;
6.3. Entrust the Managing Director of the Company to conclude and sign the agreement with the elected Auditor.
Results of voting:
FOR – 149,979,570 votes (all voted in advance).
AGAINST – 0.
DID NOT VOTE – 0. - Approval of the Company’s Remuneration Policy.
To approve AB Linas Agro Group Remuneration Policy (enclosed).
Results of voting:
FOR – 149,979,570 votes (all voted in advance).
AGAINST – 0.
DID NOT VOTE – 0.
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