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Siguldas CMAS
Remuneration Information • Mar 20, 2023
2236_rns_2023-03-20_eda2d875-9611-47ef-98c9-afe28b552423.pdf
Remuneration Information
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Joint Stock Company
'Siguldas ciltslietu un mākslīgās apsēklošanas stacija'
REMUNERATION REPORT
FOR MEMBERS OF THE MANAGEMENT BOARD
AND THE SUPERVISORY BOARD
for 2022
Sigulda 2023
CONTENT
| INTRODUCTION | |
|---|---|
| TERMS USD | |
| REMUNERATION OF THE BOARD MEMBERS for 2022 | |
| REMONERATION OF THE BOARD MEMBERS for 2021 | |
| REMUNERATION OF THE BOARD MEMBERS for 2020 | |
| REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2022 | |
| REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2021 | |
| REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2020 | |
| REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2022 | |
| REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2021 | |
| REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2020 |
INTRODUCTION
Remuneration Report of the Members of the Board and the Supervisory Board of the Joint Stock Company 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' for 2022 (hereinafter – the Remuneration Report) has been prepared in accordance with the Remuneration Policy of the Members of the Board and the Supervisory Board approved by the decision on April 24, 2020 of shareholders meeting, based on the provisions of Directive (EU) 2017/828 of the European Parliament referring to the promotion of involvement of the long-term shareholders and Article 59.3 of the Law on the Financial Instruments Market of the Republic of Latvia implementing the said Directive.
The Remuneration Report has been prepared by the Board of the Company and reviewed by the Supervisory Board of the Company. The Remuneration Report is examined by a sworn auditor, and it is reviewed and approved at the shareholders' meeting together with other components of the annual report.
The Remuneration Report is published along with the annual report as its separate component in Latvian and English on the Company's website: https://www.sigmas.lv, in the section "Investors", as well as on the Nasdaq Riga stock exchange website: https: // www .nasdaqbaltic.com.
2022 ended with a profit of 143 thousand euros. Compared to 2021, the profit before taxes for the reporting year has increased by 48 thousand euros, which was mainly caused by the increase in net turnover, as well as the valuation of the investment property.
The Company's net turnover in 2022 was 1.6 million. euros, which is by 168 thousand euros or 12.1 % more than in 2021.
The Management Board and the Supervisory Board remuneration policy ensures that in 2022 the Company's strategy, realization of long-term interests and sustainability, and the continuity of operations has been implemented.
There were no significant events in 2022, as well as no significant risks that the Company could face and that could affect its financial position and future financial results.
TERMS USED
Company - Joint Stock Company 'Siguldas citslietu un mākslīgās apsēklošanas stacija', reg. No. 40003013295.
Board - the Management Board of the Company.
Supervisory Board - the Supervisory Board of the Company.
Shareholders - shareholders of the Company's capital shares (shares).
Fixed remineration - a fixed part of the reminers salary, position-related payments and other benefits not related to performance of the Board and the Supervisory Board members.
Variable remineration - a variable part of the remuneration (gross) or annual bonuses) and possible non-recurring costs that are paid o the members of the Board in addition to the fixed remuneration during the financial year.
Remuneration - all fixed and variable remuneration provided directly or indirectly by the Company in exchange for professional services of the members of the Board and the Supervisory Board.
Remuneration policy - remuneration policy for the members of the Board and the Supervisory Board.
Remuneration report - a report of the remuners of the Board and the Supervisory Board granted or paid in the previous financial year or due to each of the current or former members of the Board and the Supervisory Board.
Additional payments - an additional company may provide in addition to fixed and variable remuneration, including compensation for non-compete obligations, termination payments or redundances and other payments that arise from applicable law or individual contract.
KPI - key performance indicators.
REMUNERATION OF THE BOARD MEMBERS for 2022
| Fixed remuneration, EUR | Variable remuneration, EUR Total remune |
Against the total, % | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name, surname, position | Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | ration, EUR |
fixed | variable | |
| Nils Ivars Feodorovs, chairman of the Board |
- | 27 339 | 1 905 | - | 375 | 570 | 315 | - | 30 504 | 97.1 | 2.9 | |
| Sarmīte Arcimoviča, member of the Board, head of Production and Sales Department |
16 030 | 7 200 | 1 705 | - | 375 | 510 | 315 | - | 26 135 | 96.8 | 3.2 | |
| Valda Mālniece, member of the Board, head of Finance and Accounting Department |
17 082 | 7 200 | 1 730 | - | 375 | 520 | 315 | - | 27 222 | 96.9 | 3.1 | |
| Total in 2022 | 33 112 | 41 739 | 5 340 | - | 1 125 | 1 600 | 945 | - | 83 861 | 97.0 | 3.0 |
REMUNERATION OF THE BOARD MEMBERS for 2021
| Fixed remuneration, EUR | Variable remuneration, EUR Total remune |
Against the total, % | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name, surname, position | Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | ration, EUR |
fixed | variable | ||
| Nils Ivars Feodorovs, chairman of the Board |
- | 23 904 | 1 660 | 1 276 | 312 | 500 | 165 | - | 27 817 | 97.6 | 2.4 | ||
| Sarmīte Arcimoviča, member of the Board, head of Production and Sales Department |
14 024 | 6 540 | 1 510 | 1 166 | 312 | 455 | 165 | - | 24 172 | 97.4 | 2.6 | ||
| Valda Mālniece, member of the Board, head of Finance and Accounting Department |
14 251 | 6 273 | 1 530 | 1 177 | 312 | 460 | 165 | - | 24 168 | 97.4 | 2.6 | ||
| Total in 2021 | 28 275 | 36 717 | 4 700 | 3 619 | 936 | 1 415 | 495 | - | 76 157 | 97.5 | 2.5 |
REMUNERATION OF THE BOARD MEMBERS for 2020
| Fixed remuneration, EUR | Variable remuneration, EUR | Total remune |
Against the total, % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Name, surname, position | Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | ration, EUR |
fixed | variable |
| Nils Ivars Feodorovs, chairman of the Board |
- | 23 741 | - | 1 392 | 297 | 500 | 165 | - | 26 095 | 97.5 | 2.5 |
| Sarmīte Arcimoviča, member of the Board, head of Production and Sales Department |
13 782 | 6 326 | 1 510 | 1 272 | 297 | 455 | 165 | - | 23 807 | 97.4 | 2.6 |
| Valda Mālniece, member of the Board, head of Finance and Accounting Department |
14 681 | 6 540 | 1 530 | 1 284 | 297 | 460 | 165 | - | 24 957 | 97.5 | 2.5 |
| Total in 2020 | 28 463 | 36 607 | 3 040 | 3 948 | 891 | 1 415 | 495 | - | 74 859 | 97.5 | 2.5 |
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2022
| Name, surname, position | Fixed remuneration, EUR | Variable remuneration, EUR | Total | Against the total, % | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | remune ration, EUR |
fixed | variable | |
| Inita Bedrīte, chairman of the Supervisory Board, deputy head of the Production and Sales Department regarding production issues |
14 074 | 2 040 |
1 140 | - | 375 | 340 | 165 | - | 18 134 | 97.2 | 2.8 |
| Maija Beča, deputy chairman of the Supervisory Board, head of the Milk Quality Control Laboratory |
23 674 | 1 800 | 1 300 | - | 375 | 510 | 165 | - | 27 824 | 97.6 | 2.4 |
| Baiba Mecauce, member of the Supervisory Board |
- | 1 800 | - | - | - | - | - | - | 1 800 | 100.0 | - |
| Guntis Mecaucis, member of the Supervisory Board |
- | 1 800 | - | - | - | - | - | - | 1 800 | 100.0 | - |
| Jānis Tūtāns, member of the Supervisory Board till 22.04.2022 |
- | 564 | - | - | - | - | - | - | 564 | 100.0 | - |
| Total in 2022 | 37 748 | 8 004 | 2 440 | - | 750 | 850 | 330 | - | 50 122 | 97.6 | 2.4 |
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2021
| Name, surname, position | Fixed remuneration, EUR | Variable remuneration, EUR | Total | Against the total, % | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | remune ration, EUR |
fixed | variable | |
| Inita Bedrīte, chairman of the Supervisory Board, deputy head of the Production and Sales Department regarding production issues |
12 239 | 2 040 | 1 015 | 770 | 312 | 305 | 165 | - | 16 846 | 97.2 | 2.8 |
| Maija Beča, deputy chairman of the Supervisory Board, head of the Milk Quality Control Laboratory |
18 697 | 1 800 | 1 320 | 1 012 | 312 | 400 | 165 | - | 23 706 | 97.6 | 2.4 |
| Baiba Mecauce, member of the Supervisory Board |
- | 1 800 | - | - | - | - | - | - | 1 800 | 100.0 | - |
| Guntis Mecaucis, member of the Supervisory Board |
- | 1 800 | - | - | - | - | - | - | 1 800 | 100.0 | - |
| Jānis Tūtāns, member of the Supervisory Board, head of the Transport and Supply Department till 17.11.2021 |
9 668 | 1 800 | 945 | 726 | 312 | - | - | 5 119 | 18 570 | 72.4 | 27.6 |
| Total in 2021 | 40 604 | 9 240 | 3 280 | 2 508 | 936 | 705 | 330 | 5 119 | 62 722 | 90.2 | 9.8 |
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2020
___________________________________________________________________________________________
| Fixed remuneration, EUR | Variable remuneration, EUR | Total | Against the total, % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Name, surname, position | Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | remune ration, EUR |
fixed | variable |
| Inita Bedrīte, chairman of the Supervisory Board, deputy head of the Production and Sales Department |
12 240 | 1 965 | 995 | 840 | 297 | 305 | 165 | - | 16 807 | 97.2 | 2.8 |
| Maija Beča, deputy chairman of the Supervisory Board, head of the Milk Quality Control Laboratory |
21 710 | 1 800 | 1 320 | 1 032 | 297 | 480 | 165 | - | 26 804 | 97.6 | 2.4 |
| Baiba Mecauce, member of the Supervisory Board |
- | 1 800 | - | - | - | - | - | - | 1 800 | 100.0 | - |
| Jekaterina Kreise, member of the Supervisory Board until 24.04.2020, head of the Informatics Department |
3 774 | 585 | 795 | 251 | - | - | - | - | 5 405 | 100.0 | - |
| Maruta Niedrīte, member of the Supervisory Board until 24.04.2020 |
- | 585 | - | - | - | - | - | - | 585 | 100.0 | - |
| Jānis Tūtāns, member of the Supervisory Board from 24.04.2020, head of the Transport and Supply Department |
7 898 | 1 238 | 795 | 471 | 297 | 285 | 300 | 220 | 11 504 | 93.0 | 7.0 |
| Guntis Mecaucis, member of the Supervisory Board from 24.04.2020 |
- | 1 238 | - | - | - | - | - | - | 1 238 | 100.0 | - |
| Total in 2020 | 45 622 | 9 211 | 3 905 | 2 594 | 891 | 1 070 | 630 | 220 | 64 143 | 97.0 | 3.0 |
| REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2022 | |
|---|---|
| Fixed remuneration, EUR | Variable remuneration, EUR | Total | Against total, % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | remune ration, EUR |
fixed | variable | |
| Board | 33 112 | 41 739 | 5 340 | - | 1 125 | 1 600 | 945 | - | 83 861 | 97.0 | 3.0 |
| Supervisory Board | 37 748 | 8 004 | 2 440 | - | 750 | 850 | 330 | - | 50 122 | 97.6 | 2.4 |
| Total | 70 860 | 49 743 | 7 780 | - | 1 875 | 2 450 | 1 275 | - | 133 983 | 97.2 | 2.8 |
| Full-time employee of an equivalent unit, average |
17 008 | - | 1 055 | - | 375 | 345 | 165 | - | 18 948 | 97.3 | 2.7 |
REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2021
| Fixed remuneration, EUR | Variable remuneration, EUR | Total remune |
Against total, % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | ration, EUR |
fixed | variable | |
| Board | 28 275 | 36 717 | 4 700 | 3 619 | 936 | 1 415 | 495 | - | 76 157 | 97.5 | 2.5 |
| Supervisory Board | 40 604 | 9 240 | 3 280 | 2 508 | 936 | 705 | 330 | 5 119 | 62 722 | 90.2 | 9.8 |
| Total | 68 879 | 45 957 | 7 980 | 6 127 | 1 782 | 2 120 | 825 | 5 119 | 138 879 | 94.2 | 5.8 |
| Full-time employee of an equivalent unit, average |
12 236 | - | 813 | 583 | 312 | 255 | 165 | - | 14 364 |
97.1 | 2.9 |
REMUNERATION OF THE BOARD AND SUPERVISORY BOARD for 2020
___________________________________________________________________________________________
| Fixed remuneration, EUR | Variable remuneration, EUR | Total remune |
Against total, % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Salary | Remuneration of a board member |
Leave allowance |
Life insurance with cash value accrual |
Health insurance |
Annual bonus |
Gifts | Support | ration, EUR |
fixed | variable | |
| Board | 28 463 | 36 607 | 3 040 | 3 948 | 891 | 1 415 | 495 | - | 74 859 | 97.5 | 2.5 |
| Supervisory Board | 45 622 | 9 211 | 3 905 | 2 594 | 891 | 1 070 | 630 | 220 | 64 143 | 97.0 | 3.0 |
| Total | 74 085 | 45 818 | 6 945 | 6 542 | 1 782 | 2 485 | 1 125 | 220 | 139 002 | 97.2 | 2.8 |
| Full-time employee of an equivalent unit, average |
11 937 | - | 795 | 782 | 297 | 240 | 165 | - | 14 216 | 97.2 | 2.8 |
The remuneration of the Board and the Supervisory Board is in line with the policy. The Company's performance criteria were not applied in determining the remuneration of the Board.
No additional payments, incl. related to the termination of the contract, were not made.
___________________________________________________________________________________________
The company is not part of the group within the meaning of the Law on Annual Accounts and Consolidated Annual Accounts, accordingly, no remuneration was received from other companies.
No shares or share options were granted or offered.
The variable remuneration part was not claimed back.
There were no exceptional cases of temporary derogations from the remuneration policy.
In 2022, the Company's employees were not provided life insurance with cash value accrual.
Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece
Chairman of the Board Member of the Board Member of the Board
17 March 2023