Latvijas balzams                                       26.04.2005. 

 

Decisions of JSC “Latvijas balzams” AGM 



On April 23, 2005 ordinary meeting of JSC “Latvijas balzams” shareholders took 

place. The meeting of shareholders made the following resolutions:  



1. The issue of agenda “Reports of the Board, Council and auditor”:



Take notice of reports of the Board, Council and auditor of Joint-Stock Company 

“Latvijas balzams”.



2. The issue of agenda “Approval of the Financial Statements for the year 2004”:



To approve the following documents executed by the Board and considered by the 

Council of JSC “Latvijas balzams”:

1) Financial statements of JSC “Latvijas balzams” for 2004 pursuant to laws of the 

   Republic of Latvia;

2) Financial statements of JSC “Latvijas balzams” for 2004 pursuant to the International 

   Standards on Financial Statements (SFPS);

3) Consolidated financial statements of JSC “Latvijas balzams” for 2004 pursuant to the 

   International Standards on Financial Statements (SFPS);

4) Statement of Dependence of JSC “Latvijas balzams” for 2004.



To release from liability for the work in the year 2004, the following members of the 

Board of JSC “Latvijas balzams”: Rolands Gulbis, Aleksandrs Jernevs, Egils Dzerelis and 

Sergejs Limarenko for work from January 1, 2004 to April 26, 2004, Juris Gulbis for work 

from January 1, 2004 to January 19, 2004 and Valizhan Abidov for work from January 19, 

2004 to April 26, 2004.



3. The issue of agenda “Disposition of profit for the year 2004”:



To approve net profit of JSC “Latvijas balzams” for the year 2004 in the amount of 

821 621.00 LVL.



Not to distribute profit for the year 2004, but use those for development of 

JSC “Latvijas balzams” in order to advance competitiveness of JSC “Latvijas balzams”.



4. The issue of agenda “Election of the auditor for audit of the financial statements 

for the year 2005 and decision on remuneration to the auditor”:



To elect auditors “PriceWaterhouseCoopers” Ltd. (commercial company’s licence No. 5) 

to audit financial statements of JSC “Latvijas balzams” for the year 2005. 



To determine remuneration to the auditor for audit of the financial statements for 

the year 2005 in the amount of 29 146.00 LVL, including taxes set forth by the laws.



To authorise the Board of JSC “Latvijas balzams” to sign contract with the auditor 

for audit of the financial statements of JSC “Latvijas balzams” for the year 2005. 



5. The issue of agenda “Decision on remuneration to the members of the Council”: 



To decide that members of the Council of the JSC "Latvijas balzams" will not receive 

remuneration for their work in the Council for the year 2005.



R. Gulbis

Chairman of the Board