Key Decisions from the Recent Shareholders' Meeting
On July 16, 2025, a Repeated Ordinary General Meeting of Shareholders took place for Novaturas AB, a notable player in the travel industry. The meeting convened with shareholders controlling 3,023,085 shares, representing 39.003% of the company's voting shares, thus ensuring a quorum for the meeting's legitimacy. With a total of 7,807,000 shares issued, including the purchase of 55,997 shares that do not confer voting rights, the meeting was imperative for steering the future of the company.
Financial Reports and Auditor's Consultation
During the meeting, several critical financial items were addressed. Notably, no decision was made regarding the Consolidated Annual Report for the year 2024. Similarly, the auditor’s independent report on the company’s 2024 financial statements did not yield a decisive outcome. However, shareholders approved the audited financial statements for the same year, marking a vital step in transparency and governance.
Profit Distribution and Remuneration Report
The shareholders discussed the distribution of profits and losses from the financial year. An outline was provided, which indicated an undistributed profit of 11,430.00 EUR from the previous year. Significant corrections were recorded, reflecting adjustments on prepayment and expense misstatements, totaling (1,745.00 EUR) and (541.00 EUR) respectively. After considering these adjustments, the net profit for the year was noted as (5,613.00 EUR).
Election of Board Members
Another critical aspect of the meeting was the election of new Board members, which included Gediminas Almantas, an independent member, along with Sebnem Gunel and Chris Mottershead. These members will officially begin their tenure following the conclusion of the current meeting, which is a standard procedure aimed at ensuring a seamless transition.
Board Members' Remuneration
The shareholders agreed on remuneration for the new Board members, setting it at EUR 1,900 monthly for members and EUR 2,500 for the Chairman. This decision highlights the company's commitment to attracting skilled professionals to lead its strategic direction.
Appointment of Audit Firm
In another crucial decision, Grant Thornton Baltic, UAB was re-appointed as the audit firm for the years 2025 and 2026. The shareholders approved a remuneration not to exceed EUR 106,500 for 2025 and EUR 114,200 for 2026, ensuring stringent financial oversight and compliance. Such measures are vital for maintaining investor confidence and operational integrity.
Final Decisions and Governance Strategies
Throughout the meeting, decisions regarding the additional remuneration for Board members and the terms of payment for audit services of Ernst & Young Baltic were deliberated, with additional terms set not to exceed EUR 25,000 for the 2024 audit.
Contacts:
Auks? Kriau?i?nait?
Temporarily acting as CFO
J. Jasinskio str. 16C, Vilnius, Lithuania
Tel. +370 630 37367
Tel. +370 614 44228 (Head of Legal)
E-mail: shareholder@novaturas.lt
Frequently Asked Questions
What were the key points discussed during the meeting?
The meeting focused on the approval of financial statements, election of Board members, and the appointment of the audit firm.
Who were the newly elected Board members?
The new Board members are Gediminas Almantas, Sebnem Gunel, and Chris Mottershead.
What remuneration was set for the Board members?
Newly elected Board members will receive EUR 1,900 monthly, while the Chairman will receive EUR 2,500 monthly.
Which audit firm was appointed for the 2025-2026 periods?
Grant Thornton Baltic, UAB was re-appointed as the audit firm for the upcoming years.
What is the importance of this meeting for Novaturas AB?
This meeting is crucial for ensuring transparent governance, setting financial strategies, and maintaining stakeholder trust.
