Pēd. atjaunots: 29.11.2024 18:24 (GMT+2)
1. 2003 Annual Report
The 2003 Annual Report has been prepared in compliance with the law.
The company has worked at a profit of LVL 92,223. The auditor's opinion
of April 2, 2004, is unbiased and coincides with the conclusions of the
present audit.
2. Violations of Law on Company Group (Concern) Article 3.7.8 1.
The applicant's notification to Management Board regarding control
interest in the company has not been supported by any documents. The
Management Board may not take any resolutions regarding control
interest without respective source documents. Proceeding from the
above, there is no reason to believe that Management Board has grossly
violated Law on Company Group (Concern) Article 3.7.8 1, as referred to
in the applicant's application, including, delivering the notification
of Company register on control interest, and reflecting the control
interest in Annual Report.
3. Material events or deals that contradict the shareholders'
interests.
No groups or partners have been identified in 2003 that would bring
losses to the company. Any prices and costs in 2003 are reasonably
comparable to previous periods and to global market prices, and the
transactions terms are compliant with Incoterms 2000 and EU
Steelworking Association recommendations. Transactions that are related
to core business contribute over 98% of sales.
Final conclusion: the auditors do not have a reason to believe that
there have been any transactions in 2003 that would be detrimental to
shareholders' interests. Full text of audit opinion is available at the
company secretary (4th F of Administration building) on business days
from 9:00 till 16:00 between September 10 and 25, 2004. The
shareholders will be introduced with the opinion on general meeting
after the prohibition to call the meeting has been cancelled.