AUGA Group Invites Shareholders to Extraordinary Meeting
Overview of the Extraordinary General Meeting of AUGA Group
AUGA group, AB is preparing for an important rendezvous with its shareholders, highlighting significant corporate matters that need attention. This assembly, also known as an extraordinary general meeting, has been called forth by shareholders holding at least one-tenth of the voting rights. With strategic restructuring underway, the meeting stands as a pivotal opportunity for members to engage actively in shaping the future of the Company.
Details of the Meeting
Scheduled for March 19, 2025, at 10:30 a.m., shareholders will gather at the designated venue within the QUADRUM NORTH business center. Registration will commence at 10:00 a.m., allowing attendees a brief window to prepare for discussions. It’s crucial for participants to be registered shareholders as of the record date, which is set for March 12, 2025.
Meeting Agenda
The agenda for the meeting is structured to facilitate robust discussion around key operational components:
- Provision of actual information regarding the restructuring process.
- Withdrawal of the existing Board.
- Election of a new Board of Directors.
- Approval of remuneration for the newly elected Board members.
Proposed Draft Decisions
As part of the meeting, several decisions are laid out for consideration:
1. Restructuring Process Update
The Company will present a comprehensive update on the status of its restructuring efforts. It is important to note that shareholders will not be voting on this agenda item, as it serves to inform.
2. Board Withdrawal
The proposal includes the withdrawal of the entire existing Board before their term concludes, a significant shift aimed at revitalizing the Company’s leadership structure.
3. New Board Election
Shareholders will also engage in electing a new Board, composed of five members. Candidates will be put forth and voted upon based on their ability to drive the Company toward success. Notably, initial candidates suggested include Ramut? Razmien? and Giedrius Barcys.
4. Remuneration Approval
The proposal outlines a monthly remuneration set at EUR 2,280 for Board members and EUR 3,000 for the Chairman, regardless of the number of meetings during the year. Furthermore, members located outside the country will be eligible for travel cost compensation, subject to specific limits.
Participation Rights
Shareholders are entitled to participate in the meeting either personally or through a power of attorney. It’s essential for shareholders not only to have proper identification but also to prepare any necessary documentation that affirms their right to vote. This includes situations where the voting rights are delegated to others.
Submitting Proposals and Voting
Shareholders holding at least one-twentieth of all voting rights may suggest additional agenda items. These proposals must be submitted well in advance to ensure consideration. Also, members can present draft resolutions regarding issues on the agenda, fostering an environment where collective decision-making thrives.
The Company will provide necessary ballots for those wishing to vote in advance. Ensuring transparency and democratizing the voting process remains paramount. Completed ballots and relevant documentation must be submitted prior to the meeting’s conclusion, allowing adequate time for acknowledgment.
Engagement with Company Documents
Shareholders are encouraged to familiarize themselves with essential documents pertaining to the meeting agenda. These documents, including prior notifications and proposed resolutions, will be available for review at the Company’s registered office and on their official website.
Contact Information
For any inquiries, shareholders can reach out to Kristupas Baranauskas, the CFO of AUGA group, AB under restructuring, at +370 5 233 5340.
Frequently Asked Questions
1. What is the purpose of the extraordinary general meeting?
The meeting aims to discuss the Company’s restructuring, elect a new Board, and address remuneration matters.
2. When and where will the meeting take place?
It is scheduled for March 19, 2025, at QUADRUM NORTH, starting at 10:30 a.m.
3. How can shareholders participate in the meeting?
Shareholders can attend personally or authorize another person through a power of attorney. Proper identification is required.
4. What are the significant decisions to be made during the meeting?
Key decisions include the withdrawal of the current Board, election of new members, and approval of their remuneration.
5. How can I propose an additional agenda item?
Shareholders must submit a proposal at least 14 days prior to the meeting for it to be considered.
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