OREANDA-NEWS. August 19, 2011. 1. Approval of the consolidated annual report for 2009

To approve the consolidated annual report of joint stock company “Ventspils nafta” for 2009 that has been prepared in accordance with the International Financial Reporting Standards, reported the press-centre of Ventspils Nafta.

Voting results: decision is taken with the simple majority of the votes.

2. Approval of annual reports for 2010

1. To take notice of the report of the Supervisory Council and of the report of the Audit Committee of joint stock company “Ventspils nafta”.

2. To approve the annual report of joint stock company “Ventspils nafta” for 2010 that has been prepared in accordance with the Law on Annual Accounts of the Republic of Latvia.

3. To approve the consolidated annual report of joint stock company “Ventspils nafta” for 2010 that has been prepared in accordance with the International Financial Reporting Standards.

Voting results: decision is taken with the simple majority of the votes.

3. Utilization of profit of 2010

To postpone consideration of the agenda item on utilization of profit of 2010.

Voting results: decision is taken with the simple majority of the votes.

4. Election of auditor for audit of annual reports for 2011

1. To elect audit firm„PricewaterhouseCoopers” Ltd. (commercial enterprise license No.5) as auditor of the annual report and consolidated annual report of joint stock company “Ventspils nafta”for 2011.

2. To authorize the Management Board of joint stock company “Ventspils nafta” to conclude a contract with „PricewaterhouseCoopers” Ltd.on audit of the annual reports of joint stock company“Ventspils nafta” for 2011, by fixing a remuneration within the approved budget of 2011 of joint stock company “Ventspils nafta”.

Voting results: decision is taken with the simple majority of the votes.

Recalling of the members of the Supervisory Council and election of new Supervisory Council:

1. As of July 27, 2011 to recall from the Supervisory Council: Javed Ahmed, Mikhail Dvorak, Vladimir Egger, Rubil Yilmaz, Mark Ware, Christophe Theophanis Matsacos, Olegs Stepanovs, Edgars Jansons, Rudolf Meroni, Michael Hason, David Alexander Schlaff.

Voting results: decision is taken with the simple majority of the votes.

2. As of July 27, 2011 to appoint the following persons to Supervisory Council:

1) Javed Ahmed,

2) Mikhail Dvorak,
3) Vladimir Egger,

4) Rubil Yilmaz,

5) Mark Ware,

6) Christophe Theophanis Matsacos,

7) David Guy Anstis,

8) Rudolf Meroni,

9) Mihhail Dementjev,

10) Janis Haze,

11) Hardija Vaivade.

Voting results: decision is taken splitting votes between all elected members of the Supervisory Council.

3. To assign Vladimir Egger to call the first meeting of the newly elected Supervisory Council, inform Supervisory Council members about the time and place of the meeting, set agenda for the first meeting of the newly elected Supervisory Council, open the meeting, as well as perform other necessary activities related to calling and holding of the first meeting of the newly elected Supervisory Council.

4. To fix a remuneration fund for Supervisory Council members for fulfilling duties of VN Supervisory Council members in amount of LVL 0.00 (zero lats) per year

Voting results: decision is taken with the simple majority of the votes.