Announcements

OEG: Minutes of annual general meeting

Posted on 18.04.2013

The annual general meeting of shareholders of OLYMPIC ENTERTAINMENT GROUP AS (hereinafter the Company) was held today, on 18 April 2013, at 10:00 AM at Reval Park Hotel & Casino, Park Lounge, Kreutzwaldi 23, Tallinn (hereinafter the Meeting). 

The agenda of the Meeting contained the items set out in the notice of the Meeting published on 26 March 2013 on the website of the Company http://www.olympic-casino.com, via the information system of NASDAQ OMX Tallinn and Warsaw Stock Exchange and on 27 March 2013 in the daily newspapers Eesti Päevaleht and Äripäev, including approving the annual report for the previous financial year, deciding on the distribution of profit, extending the term of office of the Supervisory Board members of the Company and appointing an auditor.

The Meeting started at 10:00 AM and ended at 11:22 AM. Sixty one (61) shareholders attended the Meeting representing 113,567,985 votes, constituting 75.05% of the share capital. Therefore the Meeting was competent to pass resolutions regarding the items on the agenda of the Meeting.

The following resolutions were passed at the Meeting:

 

1. Approving the Company’s 2012 consolidated annual report

The Meeting resolved to approve the consolidated annual report of the Company for the financial year
1 January 2012 - 31 December 2012, according to which the net profit amount is 24,198,716.09 Euros.

Tabulation of votes: 

In favour: 113,378,985 votes 99.83% of the votes represented at the Meeting
Against: 0 votes 0% of the votes represented at the Meeting
Impartial: 6,000 votes 0.01% of the votes represented at the Meeting
Did not vote: 183,000 votes 0.16% of the votes represented at the Meeting
Invalid: 0 votes 0% of the votes represented at the Meeting

 

2. Deciding on the distribution of profit

The Meeting resolved to distribute the net profit of the financial year that ended on 31 December 2012 in the amount of 24,198,716.09 Euros as follows:

2.1 To pay a dividend of 0.10 Euros per share, in the total amount of 15,132,950.50 Euros;
2.2 Transfer to the mandatory reserve capital: 1,209,935.80 Euros;
2.3 The remaining balance of retained earnings after the distribution of profit: 10,983,611.03 Euros.

The list of shareholders who are entitled to dividends shall be fixed on 3 May 2013 as at 11:59 PM. The dividends shall be paid to the shareholders on 15 May 2013 by a transfer to the shareholder’s bank account.

Tabulation of votes: 

In favour: 113,318,519 votes 99.78% of the votes represented at the Meeting
Against: 35,000 votes 0.03% of the votes represented at the Meeting
Impartial: 6,266 votes 0.01% of the votes represented at the Meeting
Did not vote: 208,200 votes 0.18% of the votes represented at the Meeting
Invalid: 0 votes 0% of the votes represented at the Meeting

 

3. Extending the term of office of the Supervisory Board members of the Company

The Meeting resolved to extend the term of office of the Supervisory Board members of the Company as follows:

3.1.   The term of office of the Supervisory Board member of the Company Armin Karu was extended for the next 5 (five) year period as of 14.08.2013 till 13.08.2018 (included).
3.2.    The term of office of the Supervisory Board members of the Company Liina Linsi, Peep Vain and Jaan Korpusov was extended for the next 5 (five) year period as of 12.09.2013 till 11.09.2018 (included).

Tabulation of votes: 

In favour: 112,653,818 votes 99.20% of the votes represented at the Meeting
Against: 643,375 votes 0.57% of the votes represented at the Meeting
Impartial: 87,792 votes 0.08% of the votes represented at the Meeting
Did not vote: 183,000 votes 0.16% of the votes represented at the Meeting
Invalid: 0 votes 0% of the votes represented at the Meeting

 

4. Appointing the auditor for auditing the financial year covering the period from 01.01.2013 - 31.12.2013  

The Meeting resolved to appoint AS PricewaterhouseCoopers (registry code 10142876) as the auditor to the Company and to remunerate the auditor for auditing the Company’s annual report for the financial year of 2013 in accordance with the agreement signed between the Company and AS PricewaterhouseCoopers.

Tabulation of votes: 

In favour: 112,841,609 votes 99.36% of the votes represented at the Meeting
Against: 465,200 votes 0.41% of the votes represented at the Meeting
Impartial: 78,176 votes 0.07% of the votes represented at the Meeting
Did not vote: 183,000 votes 0.16% of the votes represented at the Meeting
Invalid: 0 votes 0% of the votes represented at the Meeting

 

The resolutions were adopted at the Meeting following the procedure for passing of resolutions set forth in laws and in the Articles of Association of the Company.

 

For further information, please contact:

Madis Jääger
CEO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-mail madis.jaager@oc.eu
http://www.olympic-casino.com

« Back to list