Key Decisions from INVL Baltic Farmland's Recent Meeting
Important Resolutions of INVL Baltic Farmland Shareholders
In a pivotal meeting, INVL Baltic Farmland's shareholders gathered to discuss key matters regarding the company’s future. The resolutions passed during this gathering are crucial for both governance and transparency.
Appointment of New Audit Firm
One of the primary topics addressed was the election of an auditor to oversee the annual financial statements. After an extensive period of service, PricewaterhouseCoopers, UAB has reached a limit on its tenure under EU regulations, necessitating a change.
Selection Process and New Auditor
Given this circumstance, INVL Baltic Farmland undertook a comprehensive review of potential audit firms. They ultimately decided to appoint BDO Auditas ir Apskaita, UAB as the new audit firm for the years 2024 through 2026. This selection was guided by insights from a company survey and recommendations from the audit committee, ensuring a thorough examination of available options.
Details of Audit Services Agreement
The company’s management has been authorized to finalize the audit services contract. The agreed fee for this three-year engagement will not exceed 68,000 euros excluding VAT, striking a balance between cost efficiency and service quality. In light of potential changes in audit scope, a provision allows for up to a 25 percent increase in the audit firm’s remuneration, ensuring that comprehensive and adaptive audit services are maintained.
Company Management and Contact Information
Egle Surpliene, the director of INVL Baltic Farmland, has been designated as the contact person for further inquiries regarding these resolutions. Stakeholders are encouraged to reach out for any additional details or clarifications necessary. Egle’s email is [email protected].
Conclusion and Future Outlook
As INVL Baltic Farmland continues to navigate the complexities of the financial landscape, these strategic decisions mark a significant step towards maintaining rigorous auditing standards and enhancing corporate governance. With a solid foundation in place, stakeholders can look forward to transparent financial reporting and operational integrity in the forthcoming years. The company also keeps its ticker Vilnius:INL1L at the forefront to signify its market presence and continued commitment to excellence.
Frequently Asked Questions
What were the main resolutions made during the meeting?
The shareholders primarily focused on appointing a new audit firm for the years 2024-2026 and setting the payment terms for audit services.
Who is the newly appointed auditor for INVL Baltic Farmland?
BDO Auditas ir Apskaita, UAB has been appointed as the new audit firm.
How much will the audit services cost?
The fees for the audit services over three years will not exceed 68,000 euros, excluding VAT.
Can the audit firm's fees be increased?
Yes, the company’s management can increase the auditor's remuneration by up to 25 percent if the scope of work changes significantly.
Who can I contact for more information about these resolutions?
Egle Surpliene, the director, is available for any inquiries at [email protected].
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