NOTICE OF ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
Shareholders of Latvian Forest Company AB (publ), org. no. 556789-0495, (the "Company") is hereby invited to the Annual General Meeting on Monday, June 29, 2020, at 11:00 a.m. CET. 10.00, in Galjaden Fastigheter's premises at Linnégatan 18 in Stockholm.
Due to the uncertainty surrounding the new corona virus, precautions will be taken at the meeting. The Meeting will be held as short as possible and no meals will be offered in connection with the Meeting. The Company is following developments closely and may, if necessary, take additional precautions at short notice. We ask shareholders to follow the Company's website www.latvianforest.se for updated information.
RIGHT TO PARTICIPATE ETC.
In order to participate in the Annual General Meeting, shareholders must be registered in the share register kept by Euroclear Sweden AB as of Tuesday, June 23, 2020, and notify the Company of their participation no later than June 23, 2020. Registration can be made in writing to the Company under address: Latvian Forest Company AB, Ringvägen 22, 182 46 Enebyberg, by phone +371 29203972 or by e-mail: info@latvianforest.se. The notification shall include the name and personal or corporate identity number, address and telephone number and an indication of shareholdings.
Proxy forms for shareholders who wish to participate at the Annual General Meeting by proxy will be available on the Company's website and sent by mail to shareholders who contact the company and state their address. If shareholders intend to be represented by a proxy, power of attorney and other documents of competence should be attached to the notification. If the power of attorney has been issued by a legal person, a certified copy of the registration certificate or equivalent document of jurisdiction of the legal person must be attached. Power of attorney may not be more than five years old. Shareholders who have registered their shares in a nominee must temporarily register the shares with Euroclear Sweden AB in their own name to be entitled to participate in the Annual General Meeting. Such registration must be completed with Euroclear Sweden AB latest June 23, 2020 and should therefore be requested from the administrator well in advance of the that date.
AGENDA
1. Opening of the Meeting and election of the Chairman of the Meeting.
2. Establishment and approval of the electoral roll.
3. Approval of agenda.
4. Selection of one or two adjusters.
5. Examination of whether the meeting has been duly convened.
6. Presentation of the annual report and auditor's report, consolidated financial statements and consolidated auditor's report.
7. Statement by the CEO.
8. Resolution on
(a) determination of the income statement and balance sheet, as well as the consolidated income statement and balance sheet.
(b) dispositions of the Company's profit or loss in accordance with the established balance sheet.
(c) discharge from liability for the members of the Board and the Managing Director.
9. Establishment of fees for the Board of Directors and the Auditor.
10. Election of Board Directors and Auditor.
11. Proposal for a decision amending the Articles of Association.
12. Proposal for a resolution authorizing the Board of Directors to resolve on a new issue of shares, as well as the issue of warrants and/or convertibles.
13. Closing of the Meeting.
Proposal for a Resolution:
Election of Chairman of the Meeting (item 1). The company's major shareholders have proposed that the Chairman of the Board, Martin Hansson, be elected chairman of the 2020 Annual General Meeting.
Resolution on dispositions regarding the Company's profit or loss in accordance with the established balance sheet (item 8 b). The Board of Directors proposes that no dividend be paid for the financial year 2019.
Proposals regarding the Board of Directors, auditors, and fees (items 9 and 10). The
company's major shareholders have proposed the following:
- The number of board members shall be four without deputies.
• Fees to the Board of Directors shall amount to a total of SEK 200,000 to be distributed among the members as follows: SEK 80,000 to the Chairman and SEK 60,000 to each of the other members elected by the Annual General Meeting, who are not employees of the Company. Fees to the auditor shall be paid in accordance with approved invoice.
• Re-election of board members Martin Hansson, Anders Nilsson, Andreas Norman and Aleksandrs Tralmaks as board members.
• Re-election of Martin Hansson as Chairman of the Board.
• Re-election of authorized public accountant Håkan Andersson for a term of one year, thus until the end of the 2021 Annual General Meeting.
Proposal for a resolution amending the Articles of Association (item 11). In order to enable issues under the authorization proposed in accordance with item 12, the Board of Directors proposes that the Annual General Meeting decide to change the limits of the share capital and the number of shares in the Articles of Association in accordance with the following:
Current wording
§ 4. Share capital. The share capital shall not be less than EUR 840,022.50 and not more than EUR 3,360,090.00.
- 6. Number of shares. The number of shares shall not be less than 7,500,000 and not more than 30,000,000.
Proposed wording
§ 4. Share capital. The share capital shall not be less than EUR 1,260,033.75 and not more than EUR 5,040,135.00.
- 6. Number of shares. The number of shares shall not be less than 11,250,000 and not more than 45,000,000.
The Board of Directors further proposes that the Annual General Meeting resolves to amend the Articles of Association in accordance with the following in order to adapt the Articles of Association to changes in the law and regulations made since the articles of association were last amended.
§ 1. Company name
The term "firma" has been replaced by the term "företagsnamn" (company name) in the new law on company names. The Board of Directors therefore proposes that the wording of the Articles of Association in § 1 be amended so that "firma" is replaced by "företagsnamn".
§ 5. Share Class
The Board of Directors proposes that § 5 of the Articles of Association be amended so that reference is made to the Swedish Companies Registration Office instead of the Swedish Patent and Registration Office.
§ 11. Record-keeping
The Board of Directors proposes that § 11 of the Articles of Association be amended to refer to the current wording of the constitutional title, i.e. law (1998:1479) on CSDs and the account keeping of financial instruments.
The Board of Directors further proposes that the Meeting authorizes the CEO, or the person appointed by the CEO, to make any adjustments to the decision that may prove necessary in connection with the registration of the decision with the Swedish Companies Registration Office.
The decision requires, for its validity, that it be supported by shareholders with at least two thirds of both the votes cast and the shares represented at the meeting.
Proposal for a resolution authorizing the Board of Directors to resolve on a new issue of shares, as well as the issue of warrants and/or convertibles (item 12) The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to decide on the issue of shares, warrants and/or convertibles on market terms, during the period until the next Annual General Meeting, with or without deviation from the shareholders' preferential rights. Payment shall be made in cash, by set-off, the addition of non-cash assets or otherwise with conditions under the Companies Act. The total number of newly issued shares and the number of shares that may be added through the exchange of convertible bonds or subscription of shares on the basis of warrants shall be able to reach a maximum of the number within the maximum number of shares under the Articles of Association.
The purpose of the authorization is to strengthen the Company's own funds and solvency or provide resources for the continued expansion of the business through further acquisitions.
Furthermore, the Board of Directors proposes that the CEO, or person appointed by the CEO, shall have the right to make any adjustments to the decision required for registration with the Swedish Companies Registration Office or in Euroclear Sweden AB's handling.
The decision requires, for its validity, that it be supported by shareholders with at least two thirds of both the votes cast and the shares represented at the meeting.
Disclosures and the provision of documents: The Board of Directors and the CEO shall, if requested by any shareholder and the Board of Directors considers that this can be done without material harm to the Company or subsidiaries, disclose at the Annual General Meeting information about circumstances that may affect the assessment of a matter on the agenda and circumstances that may affect the assessment of the Company's or a subsidiary's financial situation. The obligation to disclose also applies to the Company's relationship with the subsidiaries and the consolidated financial statements.
The financial statements and auditor's report will be available at the Company and on the Company's website no later than Monday, June 8, 2020, and also the Board's complete proposal for a resolution on issue authorization and amendment of the Articles of Association from Monday, June 15, 2020. These documents will also be sent to shareholders who so request and provide their postal address.
Processing of personal data: For information on how your personal data
is processed, see https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf
_______________
Stockholm in May 2020 Latvian Forest Company AB (publ)
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Interim report Jan-June 2020
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- Equity amounts to 0.669 (1.154) EUR per share
- Earnings per share 0.024 (0.474) EUR
- Property holdings amount to 4,324* (0) hectares
- Timber volume estimated at 500,000* (0) cubic meters
- Net sales 103.7 (15.6) TEUR
- Operating profit -498.6 (0) TEUR
- Change in value, forest 1,080.7(0) TEUR
- Net profit 498.3 (9,726.4) (0) TEUR
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Year- end report 2019
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Period January-December 2019
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Minutes kept at the Annual General Meeting of Latvian Forest Company AB (publ), org. 556789-0495, at 10.00, Monday, December 16, 2019 in Stockholm.
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22.11.2019
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NOTICE OF EXTRAORDINARY GENERAL MEETING LATVIAN FOREST COMPANY AB (PUBL)
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23.08.2019
All shares in the subsidiaries have been sold, leading to a surplus of 10,803 TEUR
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Record day to receive dividends
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Annual Report and Consolidated Financial Statements for Latvian Forest Company Aktiebolag (publ)
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INTERIM REPORT JAN-MAR 2019
24.05.2019
Book value of fixed assets amounts to 24,733.2 (21,924.3) TEUR
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- Earnings per share -0.028 (0.008) EUR
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NOTICE OF THE ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
23.05.2019
Notice of the Annual General Meeting of Latvian Forest Company AB (publ).
Shareholders of Latvian Forest Company AB (publ), org. No. 556789-0495, (the "Company") is hereby invited to the Annual General Meeting on Thursday, June 27, 2019, at 10:00 a.m. in Galjaden Fastigheter's premises on Linnégatan 18 in Stockholm.
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LFC informs that Chairman of the Board, Ted Alvenius, is of a different opinion than the remaining Board of Directors regarding a transaction involving compensation for value increase in connection with the sale of all shares in the operating subsidiaries.
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Disclosure Notice
16.04.2019
Galjaden Invest AB has increased its holding in Latvian Forest Company AB to 20.03%.
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Press Release - sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.
08.04.2019
Latvian Forest Company has, in accordance with a resolution at the Extraordinary General Meeting on March 27, 2019, completed the sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.
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Disclosure Notice
29.03.2019
Nils Robert Persson has increased his holding in Latvian Forest Company AB.
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NOTICE FROM EXTRAORDINARY ANNUAL GENERAL MEETING
27.03.2019
Latvian Forest Company AB (publ) held the Extraordinary Annual General Meeting on March 27, 2019. The meeting resolved on the sale of all shares in the operating subsidiaries SIA Latvijas Mezu Kompaniju and Baltic Forest IV SIA to SCA Mezs Latvija, SIA
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Summons to Extraordinary General Meeting of shareholders in Latvian Forest Company AB (publ)
13.03.2019
The shareholders of Latvian Forest Company AB (publ), Reg. No. 556789-0495 ("The Company") are hereby summoned to the Extraordinary General Meeting of shareholders to be held on Wednesday, March 27, 2019 at 10.00 in Galjaden Fastigheter premises on Linnégatan 18, Stockholm.
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Latvian Forest Company undertecknar aktieöverlåtelseavtal med SCA Mezs Latvija
08.03.2019
LATVIAN FOREST COMPANY SIGNS SHARE TRANSFER AGREEMENT WITH SCA MEZS LATVIA
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Bokslutskommuniké 2018
22.02.2019
- Bokfört värde på mark- och skogstillgångar uppgår till 24.574 (21.323)TEUR
- Eget kapital uppgår till 1,145 (1,027) EUR per aktie
- Fastighetsinnehaven uppgår till 10.452 (9.599) hektar
- Virkesvolymen uppskattas till ca 1.015.000 (995.160) kubikmeter
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Latvian Forest Company signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the entire share capital of all its operating subsidiaries
04.02.2019
Latvian Forest Company AB signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the company’s operations by way of sale of all shares in the operating subsidiaries SIA Latvijas mezu kompanija and Baltic Forest IV, SIA. The total sale price is estimated to 26 000 000 Euro.
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Interim Report January - September 2018
23.11.2018
- Book value on land and forest assets of 23.840 (21.062) TEUR
- Owners’ Equity per share was 1,125 (0,979) EUR
- Property holdings of 10.357 (9.416) hectares
- Timber volume was 1.016.600 (960.000) cubic meter
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Interim Report January - June 2018
23.08.2018
- Book value on land and forest assets of 22.137 (20.850) TEUR
- Owners’ Equity per share was 1,047 (1,068) EUR
- Property holdings of 9.877 (9.368) hectare
- Timber volume was 1.034.000 (940.000) cubic meter
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Come follow us on Instagram!
17.08.2018
Come follow us on Instagram
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European Foresters' Orienteering Championships 2018
01.08.2018
We at Latvian Forest Company are proud supporters of orienteering in Latvia.
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Interim Report January - March 2018
24.05.2018
- Book value on land and forest assets of 21.924,3 (20.829,8) TEUR
- Owners’ Equity per share was 1,034 (1,06) EUR
- Earnings per share 0,008 (0,0039) EUR
- Property holdings of 9.665 (9.368) hectare
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Interim Report January - March 2017
22.05.2017
- Book value on land and forest assets of 20.829,8 (19.228) TEUR
- Owners’ Equity per share was 1,06 (1,03) EUR
- Earnings per share was 0,0039 EUR
- Property holdings of 9.368 (8.590) hectare
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Bronsstädet AB largest shareholder
23.09.2014
Bronsstädet AB (556612-1124) has purchased 1.878.616 B-shares in Latvian Forest Company AB (publ). The ownership, after purchases, corresponds to 14.81 percent of capital and 14.01 percent of votes which makes Bronsstädet AB the largest shareholder in Latvian Forest Co.
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Acquisitions will be completed
04.03.2014
Following the completion of its due diligence analyses, the Latvian Forest Company AB has decided to complete the previously announced acquisitions.
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