LEKS KINDLUSTUS

ANNOUNCEMENT

12.04.99

 

RESOLUTIONS OF THE 09.04.1999 ANNUAL GENERAL MEETING OF SAULES LAIKS SHAREHOLDERS 

 

The annual general meeting of shareholders of the insurance company Saules Laiks 

(subsidiary of Leks Kindlustuse AS) took place on 09.04.1999 in Riga. 

 

The following resolutions were made on the AGM:

1. unaudited 1998 financial results of Saules Laiks were acknowledged. The AGM 

decided to approve the financial results on the following meeting, i.e. after 

auditing.

2. the Management Board introduced the budget for 1999. The budget was decided 

to be approved after the final approval of the financial results.

3. to cover last year's losses, to organize a new issue of Saules Laiks shares 

in total volume of 500 000 LAT. Pursuant to the resolution of the AGM, 500 shares 

at 1000 LAT par value will be issued, whereas the shareholders of Saules Laiks 

have a pre-emptive right to subscribe for the new shares proportionally with 

their current shareholdings. The end date of subscription period will be 01.05.1999. 

The shares to be issued entitle the holders for dividends as of year 1999. In 

case of under- or oversubscription for the shares, the provisions and order 

determined in the Commercial Code of the Republic of Latvia will be applied.

4. The following general meeting to approve the audited financial statements 

and budget for 1999 (prepared by the Management Board) was decided to be held 

on 19.04.1999. 

 

 

Pille Kaselo

PR Manager

Tel. +372 62 67 270

 

Ivo Viires

Legal Director

Leks Kindlustuse AS 

Tel. +372 62 67 270