Announcements

OEG: Minutes of annual general meeting

Posted on 16.06.2016

The annual general meeting of shareholders of OLYMPIC ENTERTAINMENT GROUP AS (hereinafter the Company) was held today, on 16 June 2016, at 3:00 PM at the Conference centre of Hilton Tallinn Park (Kreutzwaldi 23, Tallinn, Estonia).

The announcement regarding the Meeting was published on 23 May 2016 on the webpage of the Company www.olympic-casino.com and through the information system of the NASDAQ Tallinn and Warsaw Stock Exchange. The announcement regarding the Meeting was published in the daily newspapers Eesti Päevaleht and Äripäev on 24 May 2016.

The Meeting started at 3:00 PM and ended at 3:38 PM. One hundred and seven (107) shareholders attended the Meeting representing 115,632,992 votes, constituting 76.18% 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 2015 consolidated annual report

The Meeting resolved to approve the consolidated annual report of the Company for the financial year 1 January 2015 - 31 December 2015, according to which the net profit amount is 25,718,587.02 Euros.

Tabulation of votes: 

In favour: 114,112,345 votes 98.68% of the votes represented at the Meeting
Against: 1,303 votes 0.00% of the votes represented at the Meeting
Impartial: 186,830 votes 0.16% of the votes represented at the Meeting
Did not vote: 1,332,514 votes 1.15% 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 2015 in the amount of 25,718,587.02 Euros as follows:

2.1 To pay a dividend of 0.15 Euros per share, altogether in the amount of 22,768,680.90 Euros, whereas 0.10 Euros per share shall be paid to the shareholders on 15 July 2016 and 0.05 Euros per share shall be paid to the shareholders on 14 October 2016;
2.2 Transfer to the statutory reserve capital: 1,285,929.35 Euros;
2.3 The remaining balance of retained earnings after the distribution of profit: 27,766,116.39 Euros.

The list of shareholders who are entitled to receive dividends shall be closed as follows:

The list of shareholders entitled to receive the dividend of 0.10 Euros per share that will be paid on 15 July 2016 shall be closed on 14 July 2016 as at 11:59 PM. The dividends of 0.10 Euros per share shall be paid to the shareholders on 15 July 2016 by a transfer to the shareholder’s bank account.

The list of shareholders who are entitled to receive the dividend of 0.05 Euros per share that will be paid on 14 October 2016 shall be closed on 13 October 2016 as at 11:59 PM. The dividends of 0.05 Euros per share shall be paid to the shareholders on 14 October 2016 by a transfer to the shareholder’s bank account.

Tabulation of votes: 

In favour: 115,498,092 votes 99.88% of the votes represented at the Meeting
Against: 25,200 votes 0.02% of the votes represented at the Meeting
Impartial: 3,770 votes 0.00% of the votes represented at the Meeting
Did not vote: 105,930 votes 0.09% of the votes represented at the Meeting

 

3. Appointing the auditor for auditing the financial year covering the period from 01.01.2016 - 31.12.2016 

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 2016 in accordance with the agreement signed between the Company and AS PricewaterhouseCoopers.

Tabulation of votes: 

In favour: 109,684,751 votes 94.86% of the votes represented at the Meeting
Against: 5,490,972 votes 4.75% of the votes represented at the Meeting
Impartial: 118,184 votes 0.10% of the votes represented at the Meeting
Did not vote: 339,085 votes 0.29% 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.

 

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

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