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Joint Stock Company “Olainfarm” January 24, 2020 Extraordinary Shareholders Meeting has not been held due to lack of quorum

on January 24, 2020

Today, 24 January, JSC Olainfarm Extraordinary Shareholders meeting which was convened at the request of the company’s largest shareholder, OLMAFARM Ltd, did not take place due to lack of quorum. The Shareholders registered for the JSC Olainfarm Extraordinary Shareholders meeting represented 2 978 701 shares in total with voting rights or 21.15% of the voting capital. As a result, the Extraordinary Shareholders meeting did not have the quorum required.

According to the articles of association of the company, the Shareholder meeting cannot be held if the specified number of shareholders with the rights to vote on the items covered on the agenda is not represented. In order for the Shareholders meeting to be valid, it must be held in accordance with the articles of association of the company. As publicly stated in September, the District Court of Zemgale upheld the request to temporarily deny OLMAFARM the right to vote in the Shareholders meetings of JSC Olainfarm until the dispute is resolved.

Due to Extraordinary Shareholders meetings becoming a regularity, the order of these meetings has been improved. The registration for the Shareholders meeting took place immediately upon entering the company building, avoiding the need for the Shareholders to have to register twice. In addition, employees’ daily agendas were not altered allowing them to use the only canteen on the premises of the company.

Additional information:
Jānis Dubrovskis
Investor Relations Advisor of JSC Olainfarm
Ph.: +371 29178878
janis.dubrovskis@olainfarm.com

Joint Stock Company “Olainfarm” January 24, 2020 Extraordinary Shareholders Meeting has not been held due to lack of quorum