AUGA Group's Annual Shareholders Meeting Reveals Key Decisions

Key Decisions from AUGA Group's Annual General Meeting of Shareholders

The Annual General Meeting of Shareholders of AUGA Group took place recently, with significant participation reflecting the trust and engagement of the shareholders. Gathering representatives of 90.88% of the voting shares, this year's meeting underscored the importance of strategic planning and collaboration as the company navigates through restructuring.

Engagement and Trust from Shareholders

During the meeting, the shareholders expressed robust engagement with a total of seven candidates proposed for the Board. K?stutis Juš?ius highlighted the record-high participation, emphasizing the commitment to a shared future, reinforcing a collaborative approach during this pivotal time for AUGA Group.

“The dedication displayed by our shareholders is impressive,” Juš?ius stated, reinforcing the sentiment that collective effort is vital for meeting future obligations and rebuilding value within the company.

New Board Election

The company elected a new Board of Directors, comprising proficient individuals ready to implement the restructuring plan effectively. The Board welcomes members Peter Bryde, Andrej Cyba, K?stutis Juš?ius, Linas Str?lis, and Aleksandras Šutovi?ius. This diverse leadership team brings a wealth of experience and perspectives crucial as AUGA Group moves forward.

Financial Statements and Profit Allocation

Shareholders approved the consolidated financial statements for the year, reinforcing transparency and accountability. The allocation of profits, amounting to EUR 22,762,493, was pivotal, as it laid the groundwork for future investments and financial strategies to secure the company’s growth post-restructuring.

The allocation was detailed as follows: the non-allocated profit from the previous year and the net profit/loss for the current year illuminate the ongoing financial considerations that the company must navigate carefully. Special attention was given to distributing the stipulated allocated profit among necessary reserves and shareholder expectations.

Strategic Vision and Articles of Association Amendments

The negotiations to amend the Articles of Association reinforce AUGA Group’s commitment to adapt its governance structures to meet evolving market demands. The amendments emphasize essential decisions regarding the acquisition and management of assets, allowing greater flexibility and responsiveness as the company conditions itself for future growth.

Juš?ius reiterated the importance of these adjustments, noting that they are designed to align the company with best practices and ensure ongoing compliance with financial regulations and stakeholder expectations.

Remuneration of Board Members

Decisions related to the remuneration of Board members were also made. The newly elected members will receive monthly compensations of EUR 2,280 before taxes, with the Chairman receiving EUR 3,000. This structure aims to attract top talent while maintaining accountability at the highest levels of leadership.

Travel compensations for Board members residing abroad underline the company’s commitment to inclusivity, allowing diverse participation in decision-making processes, especially as the company prepares for future challenges.

Future Outlook and Implementation Plans

The Board's new mandate emphasizes restoring the Company’s obligations to creditors and aiming to build shareholder value efficiently. The committed efforts of the newly appointed members position AUGA Group strategically within the market, forging paths that favor sustainable growth and innovation.

Current strategies focus on not only addressing existing financial challenges but also enhancing operational efficiencies and market competitiveness.

Frequently Asked Questions

What were the main outcomes of the Annual General Meeting?

The meeting featured the approval of financial statements, profit allocation, and the election of a new Board to guide the company through restructuring.

Who are the newly elected Board members?

The new Board comprises Peter Bryde, Andrej Cyba, K?stutis Juš?ius, Linas Str?lis, and Aleksandras Šutovi?ius.

What is the profit allocation for the year?

The total profit available for allocation is EUR 22,762,493, with detailed allocations planned for necessary reserves and other financial strategies.

What changes were made to the Articles of Association?

Amendments were made to ensure that critical decisions regarding asset management and company governance align with contemporary regulatory frameworks.

How does the Board's remuneration system work?

Newly elected Board members will receive fixed monthly compensations and travel allowances for attending meetings, ensuring fair remuneration while promoting participation.

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