Resolutions of the General Extraordinary Shareholders assembly of INVL Baltic Farmland that was held on 31 October 2022.
1. Regarding the adjustment of the phrases of cost for audit providers
1.1. To set a further remuneration of as much as EUR 6,000 per yr (VAT can be calculated and paid moreover in accordance with the order established in authorized acts) to the Company’s audit firm UAB PricewaterhouseCoopers, authorized entity code 111473315, for the audit providers of the annual monetary statements for 2022 yr so as to meet the necessities of the Articles 3 and 4 of the Commission Delegated Regulation (EU) 2018/815 of 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical requirements on the specification of a single digital reporting format.
2. Regarding the election of an auditor to hold out of the audit of the annual monetary statements and setting circumstances of cost for audit providers
2.1. To conclude an settlement with UAB PricewaterhouseCoopers, authorized entity code 111473315, to hold out of the audit of the annual monetary statements of the INVL Baltic Farmland, AB for 2023 yr and set up the cost in the quantity of EUR 12,200 per yr plus indexation (worth improve) primarily based on the common annual inflation revealed by the Department of Statistics underneath the Government of the Republic of Lithuania in April of 2023, calculated primarily based on the harmonized index of shopper costs (HICP) plus EUR 6,000 for single digital reporting format (ESEF) verification (VAT can be calculated and paid moreover in accordance with the order established in authorized acts). The Board of the INVL Baltic Farmland, AB reserves the proper to extend the remuneration of the audit firm by not more than 25 p.c of the complete remuneration permitted by this resolution, if the scope of audit work modifications considerably.
Additional info:
At a rare normal assembly on Monday, the shareholders of INVL Baltic Farmland, an organization that invests in agricultural land, permitted larger bills for audit providers for 2022. By resolution of the shareholders, the audit of the firm’s monetary reviews for subsequent yr will even be carried out by PricewaterhouseCoopers.
PricewaterhouseCoopers is auditing INVL Baltic Farmland’s 2022 monetary reviews. Costs of the audit of the firm are rising following a rise in the quantity of work concerned as a consequence of necessities that listed corporations put together and publish audited annual reviews in the European Single Electronic Format (ESEF). According to the shareholders’ resolution, further compensation of not more than EUR 6,000 (excluding VAT) could also be paid to PricewaterhouseCoopers for the providers.
For PricewaterhouseCoopers, 2023 can be the final yr for which it’s going to audit the farmland funding firm’s monetary statements, since underneath present rules the similar audit agency can’t audit an organization’s actions for greater than 10 years. The price to be paid for the audit providers, along with ESEF prices, is EUR 12,200, which might be listed to the common annual inflation price for April of the present yr.
INVL Baltic Farmland plans income of EUR 718,000 this yr and a consolidated internet revenue of EUR 646,000. The working forecasts are primarily based on the rental agreements which are in place and assume that in this yr the worth of the firm’s land holdings won’t change, there can be no additional purchases or gross sales of land, and there can be no modifications in provisions for receivables or impression of tenant money owed on the measurement of the administration price.
INVL Baltic Farmland is listed on the Nasdaq Vilnius inventory change. Its subsidiaries personal roughly 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture corporations and farmers.
The individual approved to offer further info:
Egle Surpliene
Director
E-mail: [email protected]
