Grindeks                                                     05.05.2005. 



Draft decisions of  JSC Grindeks AGM convened on  May 18, 2005



1. Approval of the 2004 Financial Statements of JSC Grindeks and the release 

of the board from its responsibilities.



Draft resolution:

1.1. To approve the JSC Grindeks audited Financial Statements of year 2004.

1.2. To approve the JSC Grindeks audited consolidated Financial Statements of 

year 2004.

1.3. To release the Board from its responsibilities of business activities 

carried out in year 2004, namely the Members of the Board of JSC Grindeks:  

Valdis Jākobsons, Vitālijs Skrīvelis, Jānis Romanovskis.



2. Regarding the allocation of profits from business activity in the year 2004.

Draft resolution:

To invest the JSC Grindeks commercial activities profit in amount of   2 445 698 LVL, 

received during the year 2004, in development and strengthening   of the 

competitiveness of the company.

3. Approval of the budget of JSC Grindeks for the year 2005. 

Draft resolution:

To approve the budget of JSC Grindeks for the year 2005, by defining the following 

positions:



Net turnover        30 452 257 LVL,

Gross profit        13 444 662 LVL,

Net operating income 5 062 512 LVL,

Net income           4 035 951 LVL



4. Election of the sworn auditor of JSC Grindeks for the year 2005.



Draft resolution:

To elect sworn auditors “Deloitte&Touche Audit” Ltd.( No of License 43) to audit 

financial statements of JSC Grindeks for year 2005.





5. Issue of shares of JSC Grindeks.



Draft resolutions:

5.1.To increase the equity capital of the company, by issuing 1'850'000 ( one million  

eight hundred fifty thousand) holders dematerialized shares with unlimited right of 

voting, at face value LVL  1.00 ( one Latvian lat) per share.

5.2.To approve the terms of the shares emission prepared by the Board.

5.3.To define the equity capital of the company, after the registration of emission in 

the Commercial Register is being completed, shall be  LVL 9'585'000 ( nine millions five 

hundred eighty five thousands Latvian lats), consisting of 9'585'000 (nine millions five 

hundred eighty five thousands) shares.

5.4. To approve the Amendments to the Articles of Association and the new edition of 

articles.

5.5. To entitle the Board to approve the circular of Company in Latvian and English 

languages, to submit the circular for registration in the Financial and Capital market 

commission of the Republic of Latvia, to approve the price of one share, to conclude an 

agreement with the JSC “Riga Stock Exchange” and the JSC “Latvian Central depositary” 

with the subject of registration of emission of shares and inclusion in the managed 

market.

5.6. To charge the Board with the responsibility to evaluate the possibility to transfer 

the shares of the Company from the second list to the official list of JSC “Riga Stock 

exchange” and after the necessary preconditions being fulfilled and prior consent of the 

Council being received, to take a decision to transfer all the shares of the Company 

to the official list of the JSC “Riga Stock Exchange”.



6. Miscellaneous.





Prepared by the Board of JSC Grindeks 

03.05.2005