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Draft decisions of Olainfarm JSC Annual shareholders meeting convened on July 31st, 2006

 Olainfarm JSC Annual shareholders meeting will be  convened on July 31st, 2006, said the media service of the company  on July 17th.

The agenda of the meeting will include the following points:
1. Management Board’s report on 2005 results; 2. Approval of Olainfarm audited 2005 Annual Report; 3. Approval of audited consolidated  2005 Annual Report; 4. Disposition of the company profits  for 2005 (this  draft resolution includes Olainfarm decision to direct 2005 profits-Ls 346 424 (USD 626,286)- for covering  the  previous years losses); 5. Election of certified auditors ( Ernst & Young Baltic SIA to be the certified auditor of Olainfarm for 2006; 6.  Management Board’s report on budget and activity plan for  2006 (acception of the Management Board report   concerning budget and activity plan of Olainfarm for 2006); 7. Changes in the Council (Mr Zigurds Jeromanovs's release from the  Council membership and Council elections for the following three years term); 8. Remuneration of the Council members; 9. Approval of new edition of the Statutes (approval of the Amendments of Olainfarm's Statutes and the new edition of the Statutes); 10. Transposition of the Olainfarm shares to the Official list.

Draft resolution suggests that the company oblige the Management Board to prepare  and submit  all the necessary documents to Riga Stock Exchange by December 31st, 2006 and carry out all the necessary activities to transpose shares of Olainfarm from Riga Stock Exchange Second list to the Official list.

Olainfarm JSC, based in Olaine, Latvia,  is one of the largest companies in the Baltic States with 30-years experience in the production of medicaments, active pharmaceutical ingredients and chemical substances.The company is represented in the USA, Poland, Ukraine, Russia, Azerbaijan, Kazakhstan, Moldavia, Georgia, Lithuania, Belorus. Some of the company's products are such intermediate chemicals as diphenylamino-3-
ethylcarbamate, phenothiazine-2-ethylcarbamate, 3-amino-5-acetyliminodibenzyl, 4-phenyl-3-carbethoxypyrrolidone-2 and other.


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