Riga Stock Exchange						12.10.2004



DECISIONS OF REPEATED EXTRAORIDNARY GENERAL MEETING OF PJSC GRINDEKS



Today, 08.10.2004, a repeated extraordinary general meeting of PJSC Grindeks 

shareholders was held. Registered shareholders with voting rights represented 

63.7% of PJSC Grindeks equity capital that constitutes a sufficient quorum, in 

order to decide regarding all the issues included in the agenda for the general 

meeting. At the general meeting, the shareholders took the following decisions:



1. Regarding PJSC Grindeks registration in the Commercial Register of the 

Republic of Latvia

 

During the 1st vote the following decision was taken: to enter PJSC Grindeks 

in the Commercial Register of the Republic of Latvia. To specify that all the 

rights and obligations of PJSC Grindeks and the decisions made by its management 

institutions shall also be in force following the registration of PJSC Grindeks 

in the Commercial Register of the Republic of Latvia.



During the 2nd vote the following decision was taken: to convert 4,400 (four 

thousand four hundred) of the corporate executive committee’s shares into ordinary 

nominal shares with voting rights and to permit them to remain in the ownership 

of the members of PJSC Grindeks Corporate Executive Committee. 



During the 3rd vote the following decision was taken: to authorise the Chairman 

of PJSC Grindeks Corporate Executive Committee, Valdis Jākobsons to sign an 

application to the Commercial Register of the Republic of Latvia for the 

registration of the decisions taken at the shareholders’ general meeting, to 

ratify the statement of the minutes from this general meeting, in the event of 

the rejection of the referred to registration to carry out the necessary 

rectification of mistakes or other formalities and/or sign an application to 

the Commercial Register of the Republic of Latvia if such is necessary.



During the 4th vote the following decision was taken: to specify that Chairman 

of PJSC Grindeks Corporate Executive Committee, Valdis Jākobsons has the right in 

accordance with his judgment to authorise any person to submit all the necessary 

documents for the registration of the decision of this shareholders’ general 

meeting in the Commercial Register of the Republic of Latvia, as well as all 

necessary explanations, if such are requested and to receive documents from the 

Commercial Register of the Republic of Latvia.



2. Ratification of PJSC Grindeks Board Regulation



During the 5th vote the following decision was taken: to authorise PJSC Grindeks 

Board to ratify the regulations of PJSC Grindeks Board and Corporate Executive 

Committee following the registration of the latest version of PJSC Grindeks 

Articles of Association in the Commercial Register of the Republic of Latvia.



3. Ratification of the Latest Version of PJSC Grindeks Articles of Association



During the 6th vote the following decision was taken: to ratify the latest version 

of PJSC Grindeks Articles of Association (Appendix No.1).



During the 7th vote the following decision was taken: to specify that the latest 

version of PJSC Grindeks Articles of Association shall come into force from the 

moment of the registration thereof in the Commercial Register of the Republic of 

Latvia.



During the 8th vote the following decision was taken:  if the notary of the 

Commercial Register of the Republic of Latvia has taken a decision to defer or 

refuse the registration of PJSC Grindeks into the Commercial Register and if such 

a deferral or refusal is related to the non-conformity of the Articles of Association 

in their latest version to the regulatory enactments of the Republic of Latvia or 

other shortcomings, and the eradication of the shortcomings of the latest version 

of the Articles of Association does not change the rights of shareholders and scope 

of obligations thereof, by its decision to authorise the Corporate Executive Committee 

of PJSC Grindeks, harmonising such with the Board, to eradicate the reasons for the 

deferral or refusal of the registration that are referred to in the decision by the 

State notary of the Commercial Register of the Republic of Latvia, by carrying our 

appropriate amendments to the latest version of PJSC Grindeks Articles of Association.



4. Regarding PJSC Grindeks Board



During the 9th vote the following decision was taken: to apply for the registration 

of the PJSC Grindeks Board in the Commercial Register of the Republic of Latvia in 

its existing line up:



Board: 

Chairman of the Board,           Kirovs Lipmans 

Deputy Chairman of the Board,    Vitālijs Gavrilovs

Board Member,                    Juris Cilinskis

Board Member,                    Uldis Osis

Board Member,                    Jānis Naglis





Finance and Administrative Director, 

Jānis Romanovskis, 

Tel. 7083205