Approved at the meeting of the Board of joint stock company “Saldus mežrūpniecība”

on June 28, 2010.

DRAFT RESOLUTIONS 

of Annual General Meeting of Shareholders

of joint stock company “Saldus mežrūpniecība” to be held on June 28, 2010

1. Report of Board and statement of Sworn auditor on results of activity for 2009.

To take notice of the report of the Board and the statement of the sworn auditor of joint stock company “Saldus mežrūpniecība”. 

2. Approval of Annual report for the year 2009.

To approve the following Annual Reports for the year 2009 prepared by the Board

of joint stock company “Saldus mežrūpniecība” :

1) Annual Report for the year 2009 of joint stock company “ Saldus mežrūpniecība” prepared in accordance with the legislative acts of the Republic of Latvia; 

2) Consolidated annual Report for the year 2009 of joint stock company

“ Saldus mežrūpniecība” prepared in accordance with International Financial Reporting Standards (IFRS). 

3. Distribution of profit for the year 2009.

1) To approve the net profit of joint stock company “ Saldus mežrūpniecība” for the year 2009 in amount of  15 988 LVL. 

2) To leave undistributed the profit for the year 2009 and use it for the development of joint stock company “ Saldus mežrūpniecība” to increase the competitiveness of joint stock company “ Saldus mežrūpniecība”. 

4. Confirmation of the plan of action and budget for 2010.

1)      Planned the production and realization volumes in logging 250 000m³ yearly.

2)      Planned the production and realization volumes for sawn timber 70 000 m³ yearly.

3)      Planned the profit of JSC „Saldus mežrūpniecība” of Year 2010 from economic activities after tax deductions is ~ 200 000LVL.

4)      Planned  the turnover of JSC „Saldus mežrūpniecība” of Year 2010 is

 ~ 16 000 000 LVL.

5. Election of auditor and determination of the remuneration for the auditor.

1) To elect SIA  „KONSULTS” (LZRA number 39) as auditor of the

Annual Reports of joint stock company “Saldus mežrūpniecība” for the year 2010. 

2) To determine the remuneration for the auditor for audit of the Annual Reports

of joint stock company “ Saldus mežrūpniecība” for the year 2010 in the amount of 2000.00 LVL, not including taxes provided by the legislative acts. 

3) To assign the Board of joint stock company “Saldus mežrūpniecība” to sign the contractwith the elected auditor for audit of the Annual Reports of joint stock company “ Saldus mežrūpniecība” for the year 2010. 

Saldus, June 14, 2010

Joint stock company “ Saldus mežrūpniecība”,

Chairman of the Board                                          J. Bertrāns

Further information:

Sanita Gintala

Office manager

JSC “ Saldus mežrūpniecība”

Phones: (+371) 63807072, (+371) 26124635

Fax: (+371) 63807073

e-mail: office@saldusmr.lv