The Management Board of JSC Olainfarm: shareholders chose stability and development by their voting

on November 22, 2018

Commenting on the decisions adopted by today’s Extraordinary Shareholders’ General Meeting of JSC Olainfarm, the Management Board of the company appreciates the voting of shareholders to leave the existing Articles of Association unchanged and retain the composition of the Supervisory Council of Olainfarm, which was elected and works professionally since the 4 September of this year.

Oļegs Grigorjevs, the Chairman of the Management Board of JSC Olainfarm, indicates that changes to the Articles of Association, which were proposed at the initiative of several shareholders and were rejected by the shareholders’ meeting, would only complicate operative management of the company and would not promote constructive cooperation between the Management Board and the Supervisory Council of the company.

“Decisions of the General Meeting have clearly shown the understanding of importance of long-term stability and development of JSC Olainfarm. I think, that it is clear for everyone, who really cares of tomorrow of the company, that initiatives that are not supportive to development and create unfavorable conditions, do not bring any benefits neither to shareholders nor employees,” states the Chairman of JSC Olainfarm.

As previously informed, the preliminary operational results of JSC Olainfarm in the first ten months of 2018 show, that the company has operated successfully in this complicated year – the turnover of Olainfarm Group has increased by 7%, compared to the respective period in the previous year, and has reached 101.8 million euros. Being aware of the importance of open dialogue with shareholders, the management team of Olainfarm had meetings with shareholders in six countries in this autumn, informing them about the situation in the company, planned investment projects and the vision of long-term development.

According to the financial calendar of the company, the Management Report and the condensed consolidated financial statement of JSC Olainfarm for 9 months of this year will be published in late November.


Additional information:
Dana Hasana
Head of Public Relations of JSC Olainfarm
mob. +371 26355895

The Management Board of JSC Olainfarm: shareholders chose stability and development by their voting