At the Annual General Meeting of Latvian Forest Company AB (publ) held on June 26, 2023, the following resolutions were passed.
Board of Directors, auditor and fees
The number of members of the Board of Directors shall be four. Re-election of Martin Hansson, Anders Nilsson, Andreas Norman and Aleksandrs Tralmaks as members of the Board of Directors. Martin Hansson was re-elected as Chairman of the Board. Remuneration to the Board of Directors shall be paid with a total of SEK 200,000, of which SEK 80,000 shall be paid to the Chairman of the Board and SEK 60,000 to each of the other Board members who are not employed by the company.
Re-election of the accounting firm Baker Tilly Stint AB for a period of one year, thus until the end of the 2024 Annual General Meeting, whereby the accounting firm has informed that the authorized public accountant Mikael Nilsson is appointed as auditor in charge. Fees to the auditor shall be paid in accordance with approved invoices.
The Annual General Meeting resolved to discharge the Board of Directors and the CEO from liability for the financial year 2022.
Appropriation of profit
The Annual General Meeting resolved that the company’s profits shall be allocated in accordance with the Board of Directors’ proposal, meaning that no dividend will be paid for the financial year 2022.
Authorization for the Board of Directors to resolve to issue shares, warrants and/or convertibles
The Annual General Meeting resolved to authorize the Board of Directors to, on one or more occasions during the period until the next Annual General Meeting, with or without deviation from the shareholders’ preferential rights, resolve to issue shares, warrants and/or convertibles on market terms. Payment may be made in cash, by set-off, contribution in kind or otherwise on terms in accordance with the Swedish Companies Act. The total number of newly issued shares and the number of shares that may be issued through an exchange of convertibles or subscription of new shares by exercise of warrants may not exceed the number that can be accommodated within the maximum number of shares according to the Articles of Association. The purpose of the authorization is to be able to strengthen the company’s capital base and equity ratio or to provide resources for continued expansion of the business through further acquisitions.
About Latvian Forest Company
Latvian Forest Company AB (publ) is a Swedish listed company that acquires, sells and conducts forestry on favourably valued forest in Latvia. The three main foundations of the business are, in addition to the fact that forest is a sought-after real asset that grows on its own;
- an expected increase in the price levels of Latvian forest and agricultural real estate
- adding value through active forest management
- to create value increase by building up a larger property portfolio.
For further information, please contact
Aleksandrs Tralmaks, CEO
+371 29203972
Or visit our website: www.latvianforest.se