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Announcement of the Management Board of joint stock company “Olainfarm”

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The joint stock company “Olainfarm” has received draft decisions prepared by the initiators of the November 1, 2019 Extraordinary General Meeting of Shareholders – limited liability company “OLMAFARM” and Andrejs Saveljevs who is authorized representative of Nika Saveljeva, which include, inter alia, a list of candidates for the Council and Auditing committee of joints stock company “Olainfarm”.

The requirements laid down in the laws and regulations in force in Republic of Latvia and in related documents determines the specific requirements to be complied with by capital companies listed in regulated market regarding their management and disclosure of information. Legislation of the Republic of Latvia (including the Financial Instrument Market Law) sets requirements for capital companies, and the European Union and the OECD (Organization for Economic Co-operation and Development) set out recommendations for the corporate governance of the capital companies. Nasdaq Riga, AS has developed Principles of Corporate Governance and Recommendations on their implementation which joint stock company “Olainfarm” has undertaken to observe.

In accordance with the Principles of Corporate Governance and Recommendations on their implementation mentioned above, particular attention should be paid to the fact that shareholders at least 14 (fourteen) days before the meeting have access to the information about candidates for the Council and Auditing committee who are expected to be approved at the shareholders' meetings. When disclosing the said information, also a short personal biography of the candidates shall be published. Notwithstanding on joint stock company “Olainfarm” requests for information, till the date of this announcement,  the initiators of the Extraordinary General Meeting of Shareholders – limited liability company “OLMAFARM” and Nika Saveljeva, have not provided the information about candidates for the Council and Auditing committee included in draft decisions, thus denying other shareholders access to the information on the candidates listed in draft decisions. Joint stock company “Olainfarm” has repeatedly requested from the initiators of the Extraordinary General Meeting of Shareholders to provide the information mentioned above.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top -quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

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

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