Latvijas Gāze                                                   18.07.2005



JSC “Latvijas Gāze” shareholders' AGM decisions 



Annual General Meeting of shareholders of JSC “Latvijas Gāze” took place 

on 15 July 2005. Shareholders meeting approved following decisions:



On the first item of the Agenda - Reports of Board, Council and sworn auditor:



To take notice of the report of the Board, the report of the Council and the 

report of the sworn auditor of joint stock company “Latvijas Gāze”.



On the second item of the Agenda - Approval of Annual reports for 2004:



1)	To approve the following Annual Accounts for 2004 of joint stock 

company “Latvijas Gāze”:

a.	JSC “Latvijas Gaze” Annual Accounts for the year ended 31 December 

2004 prepared in accordance with the Law “On Annual Accounts of the Companies”;

b.	JSC “Latvijas Gaze” Annual Accounts for the year ended 31 December 

2004 prepared in accordance with International Financial Reporting Standards.



2)	To release from the responsibility for the activities from 1 January 

2004 till 15 December 2004 members of the Board - Adrians Davis, Franks Ziberts, 

Aleksandrs Mihejevs, Anda Ulpe, Gints Freibergs and Uldis Aunins.



3)	To release from the responsibility:

a.	for the activities from 1 January 2004 till 15 December 2004 members of 

the Council Kirill Seleznyov, Juris Savickis, Yelena Karpel, Vlada Rusakova, 

Aleksandr Krasnenkov, Igor Nazarov, Eike Benke, Reiner Lehman, and Mattias 

Keuhel.

b.	for the activities from 1 January 2004 till 9 July 2004 members of the 

Council Fritz Gautier and Stephan F. Seipl.

c.	for the activities from 9 July 2004 till 15 December 2004 members of the

 Council Stephan Kamphues and Uwe Fip.



On the third item of the Agenda - Distribution of profit for the year 2004:



1)	To approve net profit of JSC “Latvijas Gāze” LVL 18 873 884, including 

share of the profit not available for the distribution LVL 1 079 127.



2)	To utilise the profit available for the distribution for the year 2004 

as follows:

a.	to pay in dividends LVL 11 970 000 or LVL 0.30 per one share, 

determining 21 July 2005 as the record date of dividends’ calculation and 27 

July 2005 as the date of dividends’ payment;

b.	to transfer LVL 5 824 757 to reserves provided for by the Articles of 

Association of JSC “Latvijas Gāze”.



On the fourth item of the Agenda - Election of sworn auditor for the audit of 

Annual reports for the year 2005 and determination of the remuneration for the 

sworn auditor:



To elect audit company “PricewaterhouseCoopers” SIA (commercial company licence 

No. 5) as auditor of the Annual Reports of JSC “Latvijas Gāze” for the year 2005,

 determining remuneration according to the Agreement signed by the Board.



On the fifth item of the Agenda - Determination of the remuneration for the 

members of the Council.



1)	To determine the following monthly remuneration for the Members of the 

Council for their duties in the Council of JSC “Latvijas Gāze”:

a.	chairman of the Council LVL 6 000 (six thousand Latvian lats) monthly;

b.	deputy chairman of the Council LVL 5 000 (five thousand Latvian lats) 

monthly;

c.	member of the Council LVL 4 000 (four thousand Latvian lats) monthly;



2)	To pay a single additional payment to the chairman of the Council of 

JSC “Latvijas Gāze” amounting 5 (five) monthly remunerations, to the deputy 

chairmen of the Council amounting 5 (five) monthly remunerations and to the 

members of the of the Council amounting 5 (five) monthly remunerations.



3)	To pay a single additional payment for the performance in year 2004 to

 the members of the of the Council amounting 2 (two) monthly remunerations, to 

deputy chairman of the Council Juris Savickis amounting 5 (five) monthly 

remunerations, to deputy chairman of the Council Stephan Kamphues amounting 3 

(three) monthly remunerations, to the chairman of the Council of JSC “Latvijas

 Gāze” amounting 4 (four) monthly remunerations. To determine the payment in 

proportion to the term of mandate in the Council in 2004



A.Dāvis

Chairman of the Management Board