The Board approved financial statements for the year 2019

On 22 April 2020 the Board of Vilkyškių pieninė AB (hereinafter “Vilkyškių pieninė AB” or “the Company”) decided: 

- To approve the Company’s annual report for the year 2019, prepared by the Company and assessed by the auditors, and to propose to the Company’s Annual General Meeting of Shareholders to approve Company’s consolidated annual report.

- To approve the draft of the audited separated and consolidated financial statements of the Company for the year 2019 and to propose to the Company’s Annual General Meeting of Shareholders to approve the draft of the Company’s separate and consolidated financial statements for the year 2019.

In 2019, Vilkyškių pieninė AB Group sales revenue amounted to 114.6 MEUR up by 11.1 percent from 103.2 MEUR in 2018. In 2019, the net loss 0.4 MEUR, decrease by 0.8 MEUR comparing to the last year (in 2018, the net loss was 1.2 MEUR)

• To approve the allocation project of the Company’s audited net profit (loss) under IAS for the year 2019 and to propose it to the Company’s Annual General Meeting of Shareholders to approve.

Resolution: To approve the audited net profit (loss) allocation under IAS for the year 2019 as follows:

	thousand EUR
1) Non-appropriated profit (loss) at the end of the year 2018	20,644
2) Approved by shareholders dividends of the year 2018	-
3) Transfers from the reserve to purchase own shares	-
4) Non-appropriated profit (loss) at the beginning of the current financial year after dividends payout and transfer from reserves	20,644
5) Net profit (loss) of the reporting period	(4,059)
6) Transfers from reserves	117
7) Net profit to be appropriated at the end of the current financial year	16,722
8) Total profit (loss) to be appropriated:
portion of the profit allocated to the legal reserve	-
portion of the profit allocated for payment of the dividends	-
portion of the profit allocated to the other reserves	-
9) Non-appropriated profit (loss) at the end of the current financial year carried forward to next financial year	16,722

- To approve the Remuneration Policy of AB Vilkyšių pieninė and to propose it to the Company’s Annual General Meeting of Shareholders to approve.

- To select the audit company of AB Vilkyškių pieninė's financial statements for 2020/2021/2022 prepared in accordance with International Financial Reporting Standards for audit from among the „Big4“ international audit companies (UAB KPMG Baltic, UAB PricewaterhouseCoopers, UAB Deloitte Lietuva, UAB Ernst & Young) and to authorize the General Director of the Company Gintaras Bertašius to enter into an audit services agreement with the selected audit company and to establish the terms of payment for audit services. The Board proposes to approve the selected audit company at the General Meeting of Shareholders, taking into account the recommendations of the Audit Committee.

- To approve the new wording of the Articles of Association of AB Vilkyškių pieninė (attached) by amending and redraft articles 48, 83, 85 and 86 of the Articles of Association in new wording and to propose it to the Company’s Annual General Meeting of Shareholders to approve.

Vilija Milaseviciutė
Economics and Finance Director
phone [phone]

Attachments

• Confirmation of responsible persons
• Draft resolutions of Ordinary General Meeting of the Shareholders, to be held on 30 April 2020
• Voting bulletin of the ordinary general meeting of shareholders 2020-04-30
• Policy of Remuneration for Employees of AB Vilkyškių pieninė Group
• Consolidated and separate financial statements for the year 2019
• AB Vilkyškių pieninės įstatai (nauja redakcija)