Valmieras stikla škiedra Decisions of annual general meeting 25.05.2012

RESOLUTIONS of Annual General Meeting of Shareholders of JSC „Valmieras stikla
šķiedra” to be held on May 25, 2012


RESOLUTIONS

of Annual General Meeting of Shareholders

of joint stock company „Valmieras stikla šķiedra” to be held on May 25, 2012



1. Reports of Management Board, Supervisory Board, Audit Committee and
statement of Sworn auditor, approval of Annual report for the year 2011.

1. To take notice of the Reports of Management Board, Supervisory Board, Audit
Committee and statement of Sworn auditor for the year 2011 of joint stock
company “Valmieras stikla šķiedra”.
2. To approve the Annual Report of joint stock company “Valmieras stikla
šķiedra” for the year 2011 prepared by the Management Board of joint stock
company “Valmieras stikla šķiedra” and revised by the Supervisory Board of
joint stock company “Valmieras stikla šķiedra”.

Voting results: decision is taken with the required majority of the votes.

1. Distribution of profit for the year 2011.

1. To approve the net profit of joint stock company “Valmieras stikla šķiedra”
for the year 2011 of 1 530 795.82 LVL (one million five hundred thirty
thousand seven hundred ninety five lats 82 santims).
2. To distribute the net profit for the year 2011 of 1 530 795.82 LVL (one
million five hundred thirty thousand seven hundred ninety five lats 82
santims) as follows:

1. To pay 621 483.33 LVL (six hundred twenty one thousand four hundred eighty
three lats 33 santims) or LVL 0.026 per one share to shareholders in
dividends, setting June 29, 2012 as the date of calculation of dividends
and July 6, 2012 as the date of payment of dividends.
2. To leave undistributed and use LVL 909 312.49 (nine hundred nine thousand
three hundred twelve lats 49 santims) for the development of joint stock
company “Valmieras stikla šķiedra” with the aim to increase joint stock
company “Valmieras stikla šķiedra” competitiveness.

Voting results: decision is taken with the required majority of the votes.

1. Election of the auditor for the audit of Annual Report for the year 2012
and determination of the remuneration for the auditor.

1. To elect audit company “Deloitte Audits Latvia” SIA (commercial company
licence No. 43) as auditor of the Annual Report of joint stock company
“Valmieras stikla šķiedra” for the year 2012.
2. To determine that the remuneration of the auditor for the audit of Annual
report for the year 2012 shall be set according to the agreement signed
between the auditor and joint stock company “Valmieras stikla šķiedra” on
the audit of the Annual Report 2012.

Voting results: decision is taken with the required majority of the votes.

1. Determination of the remuneration for members of the Supervisory Board.

1. For the results of the year 2011 of the joint stock company “Valmieras
stikla šķiedra” to pay additional remuneration in the amount of 1% of the
net profit for the year 2011 to each member of the Supervisory Board.
2. To determine that for the duties during the year 2012, each member of the
Supervisory Board of joint stock company „Valmieras stikla šķiedra” shall
receive a remuneration in the amount of LVL 1500 (one thousand five hundred
lats) for each attended Supervisory Board meeting.

Voting results: decision is taken with the required majority of the votes.

1. Election of the Audit committee and determination of the remuneration for
the Audit committee.

1. To elect for the office of the member of of joint stock company “Valmieras
stikla šķiedra” Audit Committee for the term three years, starting on 29
May 2012:
1. Florians Krome;
2. Stefans Preiss-Daimlers;
3. Guntis Strazds.
4. To establish that the meetings of the Audit Committee shall be held in
line with necessity of the company; however not less than 3 (three)
times a year, but not more frequent than 4 (four) times a year.
5. To determine that for the duties during the year 2012, each member of
the Audit Committee of joint stock company „Valmieras stikla šķiedra”
shall receive a remuneration in the amount of LVL 1 300 (one thousand
three hundred lats) for each attended Audit Committee meeting.

Voting results: decision is taken with the required majority of the votes.





Valmiera, May 25, 2012



Chairman of the Management Board
A.O.Brutāns

Member of the Management Board
D.Šēnbergs


Inita Martinsone
+371 642 02242
+371 29338802

- Anglijos banko valdytojas perspėja dėl euro pavojaus britų ekonomikos atsigavimui - Ilgalaikio nedarbo stigma - „Twitter“ žinutės sudrebinusios rinkas - Kroatai prieš stojimą į ES balsuoja vietos valdžios rinkimuose - A. D. Barakauskas: sporto sektorius turi būti stiprinamas, nes veikia ES ekonomiką