Latvijas balzams                                            13.04.2005. 



DRAFT RESOLUTION of ordinary meeting of shareholders of JSC “Latvijas balzams” 

of April 23, 2005



1. Reports of the Board, Council and auditor.



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

“Latvijas balzams”.



2. Approval of the Financial Statements for the year 2004



To approve the following documents executed by the Board of JSC “Latvijas balzams” 

and considered by the Council of JSC “Latvijas balzams”:

1) Financial statements of JSC “Latvijas balzams” for 2004 (on 25 pages attached in 

Annex No. 1) pursuant to laws of the Republic of Latvia;

Financial statements of JSC “Latvijas balzams” for 2004 (on 27 pages attached in Annex 

No. 2) pursuant to the International Standards on Financial Statements (SFPS);

2) Consolidated financial statements of JSC “Latvijas balzams” for 2004 (on 26 pages 

attached in Annex No. 3) pursuant to the International Standards on Financial 

Statements (SFPS);

3) Statement of Dependence of JSC “Latvijas balzams” for 2004 (on 9 pages attached in 

Annex No. 4).



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. Disposition of profits for the year 2004.



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

821 621.00 LVL.



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

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



4. 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. 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. 



Chairman of the Board					

of JSC “Latvijas balzams”

R.Gulbis