Siguldas CMAS

Annual Report • Mar 20, 2014

Joint Stock Company " Siguldas ciltslietu un mākslīgās apsēklošanas stacija " Registration no. 40003013295

REPORT OF THE COUNCIL General meeting of Shareholders of joint stock company "Siguldas ciltslietu un mākslīgās apsēklošanas stacija" 2013 report.

March 20, 2014 Sigulda

The Council has considered the report of the Joint Stock Company 2013. The annual report provides comprehensive information about the company's economic performance. Economic activity is conducted in accordance with the financial capacity and technical support. Joint Stock Company has paid all taxes fully paid staff salaries. Company's turnover has decreased by 1.3 % compared to the previous year 2012. This is due to the fact that this reporting year increased maintenance costs for laboratory equipment. Sale of the bull semen and services of the cattle artificial insemination are increasing, other activities dealt with by a joint stock company with a slight decrease. Still reduction in cow evaluation, ie, a linear estimate of the number of cows is not great. This is an area where it would be possible for services increases.

During the reporting period, the Company acquired the highly efficient automated system for computerized semen analysis AndroVision by upgrading the production of bull semen and providing the market with quality products.

Along with the annual report is submitted to the certified auditor's report. The auditor is of the opinion that the joint stock company " Siguldas ciltslietu un mākslīgās apsēklošanas stacija " 2013 statements give a true and fair view of the Company's financial position as of December 31 , 2013 and the company's operating results and cash flows. The auditor found no material inconsistencies with the financial information contained in the management report and financial statements 2013.

The management report is laid down in the future prospect and development activities by 2014. By increasing operational efficiency, the company will continue to work to improve their products and provided services so as to ensure the company's competitiveness. The Council has reviewed the Board's proposal for the 2013th the profit 49 263Ls distribution. The Council considers that the proposal of the Board of JSC does not the profit, but to pay of the previous year profit as dividends 59 141.60 euro, which is 0.14 euro per share of shares of public current financial capabilities.

The Council considers that the joint-stock company, in spite of serious competition in the

market, the 2013th year has worked well. Submitted 2013th annual financial report is clear and truthful information about the results of operations, cash flows and financial position of the 2013th on the 31st December.

Council must approve the proposal to the general meeting of shareholders of JSC "Siguldas ciltslietu un mākslīgās apsēklošanas stacija " ' 2013 report and pay dividends out of retained earnings 59 141.60 euro , which is 0.14 euro per share.

2013th During the year the Council has fulfilled its obligations and monitoring the operations of the Company in accordance with the law, reviewed the financial statements. During the year, we had five Council meetings. Meetings were reviewed financial statements; the Board reports on the work, as well as the future of JSC related issues.

The Council wishes to thank the Company's Management Board and all employees for the successful past financial year.

Chairman of the Council: 7 pol G. C. C. Bedrite
Council Member. Mose	M.Beča
Council Member: Juumbuco	S.Arcimoviča
Council Member:	E.Everte
Council Member:	J.Kreisa