Akciju sabiedriba "VEF"

AGM Information • Apr 18, 2012

DECISIONS of Annual General Meeting of Shareholders of joint stock company "VEF" held on 18 April 2012

1. The Reports of the Management Board, the Supervisory Board and the statement of the sworn auditor.

To take notice of the report of the Management Board, the report of the Supervisory Board and the statement of the sworn auditor of joint stock company "VEF".

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

2. Approval of Annual report for the year 2011.

To approve the Annual Report of joint stock company "VEF" for the year 2011 prepared by the Management Board and revised by the Supervisory Board.

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

3. Distribution of profit for the year 2011.

The net profit of the year of account of joint stock company "VEF" in the amount of 66 946 LVL use to cover losses of previous years.

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

4. 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 sworn auditor Māra Līgute (licence No. 55) as auditor of the Annual Report of joint stock company "VEF" for the year 2012.
• 2) To determine the remuneration for the auditor for audit of the Annual Report of joint stock company "VEF" for the year 2012 in the amount of 1098 LVL, including taxes provided by the legislative acts.
• 3) To assign the Management Board of joint stock company "VEF" to sign the contract with the elected auditor for audit of the Annual Report of joint stock company "VEF" for the year 2012.

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

5. Election of the Supervisory Council and determination of the remuneration for the Supervisory Council.

• 1) To elect in the positions of the members of the Supervisory Council of joint stock company "VEF" for three years, determining the beginning of the duties of the Supervisory Council as of the April 24, 2012:
  • 1) Guntis Lipiņš;
  • 2) Aivars Vītoliņš;
  • 3) Andris Deniņš;
• 4) Jānis Lāma;
• 1) Ints Kalniņš.

Voting results: decision is taken in the cumulative voting by dividing shareholders votes.

2) Do not set the remuneration for the Supervisory Council.

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

Riga, April 18, 2012

G.Feņuks Chairman of the Management Board T.Kampāne Member of the Management Board

Additional information Tamāra Kampāne Member of the Management Board Phone +371 67270618