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Resolutions of annual shareholders’ meeting of joint stock company “Latvijas kuģniecība”  held on April 27, 2015

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Resolutions of annual shareholders’ meeting of joint stock company “Latvijas kuģniecība”  held on April 27, 2015

april 27, 2015 / Latvian Shipping Company

 1.      Approval of annual reports for 2014

1)      To take notice of the report of the Supervisory Council of joint stock company “Latvijas kuģniecība”, report of the Audit Committee and the Corporate Governance Report for 2014.

2)      To approve the annual report of joint stock company “Latvijas kuģniecība” for 2014 (in appendix No. ___).

3)      To approve the consolidated annual report of joint stock company “Latvijas kuģniecība” for 2014 (in appendix No. ___).

Voting results:  decision is taken with the required majority of votes.

2.      Use of profit of 2014.

To use the 2014 profit of joint stock company “Latvijas kuģniecība” (parent company) in the amount of 1 611 473 EUR (one million six hundred eleven thousand four hundred seventy three euro) to cover losses of previous years.

Voting results:  decision is taken with the required majority of votes.

3.      Election of auditor for audit of annual reports for 2015

1)      To elect auditing firm “KPMG Baltics” Ltd (commercial enterprise license No. 55) as the auditor of joint stock company “Latvijas kuģniecība” for audit of the annual reports for 2015.

2)      To assign the Management Board of joint stock company “Latvijas kuģniecība” to conclude an agreement with “KPMG Baltics” Ltd on audit of the annual reports of joint stock company “Latvijas kuģniecība” for 2015, by fixing the remuneration up to EUR 87 000. (eighty seven thousand euro), excluding value added tax.

Voting results:  decision is taken with the required majority of votes.

4.  Election of the Supervisory Council.

1)       As from April 27, 2015 to dismiss the following persons from the position of member of the Supervisory Council of joint stock company “Latvijas kuģniecība”: Vladimir Egger, Rubil Yilmaz, Simon Boddy, Andrea Clare Schlaepfer, Varvara Maximova, Julia Vershchagina, Olga Kurenkova, Giovanni Fagioli,  Kristo Oidermaa and Ivars Girgensons.

Voting results:  decision is taken with the required majority of votes.

2)       To elect the Supervisory Council of joint stock company “Latvijas kuģniecība” for a period of five years in the following composition, by setting the beginning of term of powers as from April 27, 2015:

  1. Vladimir Egger, 
  2. Rubil Yilmaz, 
  3. Andrea Clare Schlaepfer, 
  4. Varvara Maximova, 
  5. Olga Kurenkova,
  6. Dmitrij Yudin,
  7. Boris Bednov,
  8. Kristo Oidermaa,
  9. Giovanni Fagioli,
  10. Artūrs Neimanis.

Voting results:  decision is taken by dividing votes.

3)       To assign Vladimir Egger to convene the first meeting of the newly elected Supervisory Council of joint stock company “Latvijas kuģniecība”, to notify Supervisory Council members on the time and venue of the Supervisory Council meeting, to fix the agenda of the first meeting of the newly elected Supervisory Council of joint stock company “Latvijas kuģniecība”, to open the Supervisory Council meeting, as well as to take other necessary actions in relation to convening and holding the first meeting of the newly elected Supervisory Council of joint stock company “Latvijas kuģniecība”.

4)      To fix the annual remuneration fund for the members of the Supervisory Council of joint stock company “Latvijas kuģniecība” for fulfilment of duties in the amount of EUR 0.00 (zero euro).

Voting results:  decision is taken with the required majority of votes.

5.      Elections of the Audit Committee and determination of the remuneration for the Audit Committee.

1)      To elect the following persons as members of the Audit Committee of joint stock company “Latvijas kuģniecība” for 3 (three) years, fixing the beginning of term of duties as of July 25, 2015:

1.                  Lahsen Idiken, born [..], address: [..];

2.                  Nafiset Negouch, born [..], address: [..];

3.                  Jozef Hubertus Johannes Baardemans, born [..], address: [..].

2)      To set the annual remuneration fund of the Audit Committee of joint stock company „Latvijas kuģniecība” in the amount not exceeding EUR 10.000 (ten thousand euro), by authorising the Chairman of the Audit Committee to split the remuneration fund between members of the Audit Committee.

Voting results:  decision is taken with the required majority of votes.

Newly elected member of the Supervisory Council Boris Bednov has worked as a member of the Management Board of JSC “Ventspils nafta” since April 28, 2010. He is an oil and transit industry professional. He began his career in the oil and transit business in 1982 as a Refinery Engineer. Since 1993 he has been working as Oil Trader. He has been the Head of the Lithuanian office of Vitol, based in Mazeikai, from 1996 till 2014. Since August, 2014 he has been employed in leading position by “Vitol Baltics” Ltd office in Riga. Professional education: he has graduated the D. Mendeleyev University of Chemical Technology in Russia. Mr Boris Bednov does not own any shares of JSC “Latvijas kuģniecība”.

Newly elected member of the Supervisory Council Dmitry Yudin has worked for Belarussian Oil Company since 2009. In May 2014, he joined the Vitol Services B.V. (The Netherlands) Representative office. In December 2014, he joined the SIA “Vitol Baltics” and since then has continuously worked there as trader. Professional education: degree in Economy from Belarussian National Polytechnic University. Mr Dmitry Yudin does not own any shares of JSC “Latvijas kuģniecība”.

Newly elected member of the Supervisory Council Artūrs Neimanis is the adviser of Welfare Minister in the issues related to administration, finance and human resources since January 2014. Previously he was employed in leading positions related to the security at “GE Money Bank”. Professional education: bachelor degree in business management from Information system management institution of higher education and qualification of lawyer from Latvian Police academy. Mr Artūrs Neimanis does not own any shares of JSC “Latvijas kuģniecība”.

Management Board of joint stock company “Latvijas kuģniecība” 

 About JSC “Latvian Shipping Company”

JSC “Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia. The average age of the LK fleet is 7 years. All of the vessels have received ISM (International Safety Management) certificates.

Additional information:
Elīna Dobulāne, Communication Consultant
JSC “Latvian Shipping Company”
Phone: +371 25959447
E-mail: elina.dobulane@vnafta.lv
www.lk.lv