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Wednesday 08.04.2020 | Name days: Dana, Dans, Danute, Edgars

Olainfarm: Olmafarm misleads society about alleged shareholder meeting

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Olainfarm, Olmafarm, board, council, changes, shareholders, meetingBy reporting information about the shareholder meeting that allegedly took place Friday, 24 January, medicines manufacturer Olainfarm’s largest shareholder LLC Olmafarm council and board mislead society and ignore the ruling of the court, Olainfarm representatives say.

Olainfarm representatives stress that the extraordinary shareholder meeting that was organized in accordance with the law at 11:00 a.m. on 24 January in the company’s building on Rūpnīcu Street 5, Olaine, did not take place because of shortage of quorum. This means Olainfarm’s current council and board will continue working in their unchanged composition.

Olainfarm statement mentions that Monday’s «information publicly reported by Olmafarm board chairman Pēteris Rubenis, which suggests that a new council and board has been elected for the company contains false information and should be considered disinformation».

Company representatives mention that Olainfarm board’s duty is perform registration of shareholders and keep track of shareholders with voting rights present at meetings, which was done. Conclusions were reported to present shareholders and relevant information was published by Nasdaq Riga. Information was also reported to mass media.

Olainfarm reminds that there was no sufficient quorum for the shareholder meeting, because shareholders who own a total of 2 978 701 shares or 21.15% of vote-worthy shares had registered for the meeting.

Read also: BNN investigation | Rebenoks and Krieķis may have plans to return to Olainfarm board despite ties to serious crimes

According to the company’s statutes, a shareholder meeting cannot happen if a specific number of shareholders with rights to vote on declared topics on the agenda do not take part in it. For a shareholder meeting to come to force, it needs to happen in accordance with the company’s statutes, Olainfarm representatives say.

As stressed by company representatives, in September Zemgale District Court satisfied the plea to temporarily deny Olmafarm the rights to vote in Olainfarm shareholder meetings until the dispute has been resolved.

This means that Olmafarm and Rubenis, as board chairman, have clearly ignored the court’s ruling.

On Monday Rubenis claimed that a meeting of shareholders of Olainfarm did take place on Friday, 24 January, and that a new council was put together, which later added changes to Olainfarm board. Rubenis says it was decided at the shareholder meeting that Olainfarm council will consists of Pēteris Rubenis, Irina Maligina, Ingus Balandins, Andrejs Saveļjevs, as well as Valentīna Andrejeva, who was picked as council chairman.

This means Gundars Bērziņš, Jānis Buks, Haralds Velmers and Kārlis Krastiņš have been dismissed from their respective posts.

Also Rubenis reported Raimonds Terentjevs and Mārtiņš Pūriņš remain in the board of Olainfarm. Other board members have been removed from their posts. Jeļena Borcova and Mārtiņš Tambaks have been re-elected to the board.

Borcova was elected board chairperson. Her prior work experience is related to pharmacy business. She had previously worked for AS Grindeks for 15 years, as well as for Tallinn pharmaceutical plant for two years. Borcova had previously worked in Olainfarm’s board.

With that said, as of Friday Olainfarm board chairman Jerūns Veitess and board members Milana Beļeviča, Signe Baldere-Sildedze, Elena Bušberga and Lauris Macijevskis have been dismissed from their posts.

Decisions in regards to changes to Olainfarm management structure have been submitted to the Register of Enterprises.

Information from the Register of Enterprises shows that two applications from Olainfarm were received – one submitted by Beļeviča and the other by Tambaks. The register will review both and make its decision on 29 January.

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