JSC Latvijas kuģniecība                         14.06.2005



Draft decisions of Annual General Meeting of Shareholders of

JSC Latvijas kuģniecība to be held on 29 June 2005



Approved by the Management Board 

of JSC Latvijas kuģniecība

on 20 May 2005 (decision no.20/11)



1.Approval of Annual reports for 2004.



1)To take notice of the report of the Management Board, the 

report of the Supervisory Council and the report of the auditors 

of joint stock company Latvijas kuģniecība (Latvian Shipping 

Company -LASCO).



2)To approve the following Annual Reports for 2004 of joint stock    

company Latvian Shipping Company:

a.Annual Report for 2004 of joint stock company Latvian Shipping 

Company prepared in accordance with  the Law "On Annual Reports of 

the Companies" (attachment no___ on ____ pages);

b.Consolidated Annual Report for 2004 of joint stock company 

Latvian Shipping Company and its subsidiaries prepared in 

accordance with the Law "On Consolidated Annual Reports"(attachment 

no___ on ____ pages);

c.Consolidated Annual Report for 2004 of joint stock company 

Latvian Shipping Company and its subsidiaries prepared in accordance 

with International Financial Reporting Standards (attachment 

no___ on ____ pages).





2.Distribution of profit for the year 2004.



To utilise the net profit of JSC Latvian Shipping Company for 2004 

in the amount of 37 796 988 LVL to cover the losses of the previous 

years.

 



3.Election of sworn auditor for the audit of Annual reports for the 

year 2005.



To elect audit company Ernst & Young Baltic Ltd. SIA (commercial company 

licence No. 17) as auditor of the Annual Reports of JSC Latvian Shipping 

Company for the year 2005.





4.Determination of the remuneration for the officers of the Company.



1)To authorise the Management Board of JSC Latvian Shipping Company to 

sign contract with the auditor for audit of the Annual Reports of 

JSC Latvian Shipping Company for the year 2005, determining the 

remuneration within the approved budget of JSC Latvian Shipping Company 

for the year 2005. 



2)To determine that the remuneration of the Supervisory Council of 

JSC Latvian Shipping Company is in accordance with the approved budget 

of JSC Latvian Shipping Company for the year 2005, authorising the 

Chairman of the Supervisory Council to determine distribution of the 

remuneration between the members of the Supervisory Council.







Chairman of the Management Board 		I.Vikmanis

JSC Latvijas kuģniecība