The Commercial Law and the rules of the stock exchange stipulate that any shareholder has the right to get acquainted with the list of shareholders three days before the meeting. However, JSC Olainfarm the board has grossly violated this principle and has not provided the shareholders with the opportunity to get acquainted with this list neither three calendar days nor three business days before the shareholders’ meeting scheduled for September 22. Such actions may also indicate a desire to manipulate the list data on the day of the shareholders’ meeting.
Without a / s Olainfarm The board and the company’s representative Jānis Dubrovskis, in response to the shareholders, have provided contradictory information, some stating that the list of shareholders will be available in Olaine, the company from Friday, September 18, and others that it will be available in Olaine, but from Saturday, September 19th.
In reality, until now, it was not possible for the shareholders to get acquainted with the list of shareholders for the September 22 shareholders’ meeting, which is open to the Commercial Law, JSC. Olainfarm violation of the rules of procedure of the shareholders’ meeting, as well as the rules of the stock exchange. Several shareholders and their representatives have filed a complaint with the FCMC regarding this fact and the violations of the law. Section 278, Paragraph one of the Commercial Law and joint stock companies Olainfarm Clause 7.2 of the Rules of Procedure of the shareholders ‘meeting stipulates the obligation of the board to compile a list of shareholders available to the shareholders not later than 3 days before each shareholders’ meeting.
Given that JSC Olainfarm is a regulated market company, shareholders and their representatives have applied to the Financial and Capital Market Commission with a request to intervene in the said situation and invite JSC Olainfarm the Board to convene a new shareholders’ meeting, ensuring the observance of the rights of all shareholders.
In contrast, a / s Olainfarm the board rejects Rubenis’ public statements. “All shareholders who expressed an interest in getting acquainted with Olainfarm the list of shareholders and contacted the company, the arrival time was individually agreed so that the Diena.lv said company representatives.
Please comment Olainfarm shareholder statement, FCMC representatives noted that the FCMC does not monitor compliance with the provisions of the Commercial Law, however, in order to promote the rule of law and the principles of corporate governance, the FCMC calls on the Olainfarm management to ensure the availability of shareholder lists Olainfarm shareholders.
In turn, the question of whether the FCMC will refer to someone else Olainfarm the FCMC emphasized the shareholder’s invitation to the FCMC to exercise the rights provided by law and to participate in the regular and extraordinary general meetings scheduled for 22 September to ensure compliance with the requirements of regulatory enactments binding on regulated market participants, “FCMC does not disclose information on market participants’ supervision measures.”
FCMC commentary in paragraphs 7 and 8 added.
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