OREANDA-NEWS. March 22, 2009. About approval of the AS “Latvijas Krajbanka” annual report for 2008.

The shareholders` meeting decides:

1. To approve the AS “Latvijas Krajbanka” (hereinafter referred to also as the Bank) Management report on the operational results of 2008, as attached in appendix.

2. To approve the AS “Latvijas Krajbanka” Council report on its work in 2008, as attached in appendix.

3. To approve the AS “Latvijas Krajbanka” consolidated annual report for the year ended 31 December 2008, as attached in appendix.

4. To admit the work of the AS “Latvijas Krajbanka” Council in 2008 to be pursuant to the aims and interest of the Bank. When evaluating the information, provided by the Council, to admit:

- The Council work organization to be efficient;

- The Council composition to be optimal, the council is made of the members, whose qualification, experience and number allows the Council to perform its duties successfully;

- That during 2008 all the Council members have worked efficiently and successfully. 

About the AS “Latvijas Krajbanka” profit disposition

The shareholders` meeting decides:

1. To determine the disposition of the audited profit of the AS “Latvijas Krajbanka” for the year 2008 in the amount of LVL 3 008 033.29, - (three million eight thousand thirty-three lats 29 santims) as follows:

1.1. in accordance with the Clause 8.5.1 of the AS “Latvijas Krajbanka” Issue prospectus (approved by the  AS “Latvijas Krajbanka” Board on October 31st 2006, minutes no. 77, the 5th item of the agenda) and with the Articles of Associations of AS “Latvijas Krajbanka”, dividends for the “A” category preference shares shall be paid to the shareholders in the total amount of LVL 691,84 (0,023% from the audited profit) or LVL 0,244121 per one preference share; 

1.2. the residual amount of the AS “Latvijas Krajbanka” audited profit for the year 2008 shall be transferred to the undivided profit.

2. To pay out dividends pursuant to the Clause 1.1 of the present decision in accordance with the order stated in the Rule no. 8 of the JSC Latvian Central Depositary “On payment of dividends, coupons, principal and other cash proceeds”, to determine April 7th 2009 to be the date of calculation of dividends, and April 15th 2009 to be the date of dividend payout.

Election of the sworn auditor

The shareholders` meeting decides:

1. To elect the limited liability company “ERNST & YOUNG BALTIC”, registration no. 40003593454, to be the sworn auditor of the AS “Latvijas Krajbanka” for the year 2009.

2. To determine the remuneration of “ERNST & YOUNG BALTIC” Ltd in the amount, which does not exceed LVL 75 000,- (seventy-five thousand lats), including VAT.

About the AS “Latvijas Krajbanka” Council Remuneration Policy

The shareholders` meeting decides:

To approve the Remuneration Policy of the Council Members of the Joint-Stock Company “Latvijas Krajbanka”, as attached in appendix.

APPROVED BY
Regular Shareholders’ Meeting of  the Joint-Stock Company Latvijas Krajbanka                    
23 March 2009
(protocol No.2, agenda item No 4).