Comment on news

Referring to media news about the blocked accounts of JSC Olainfarm, we would like to inform that at the moment this situation has been resolved and the company’s accounts are continuously active. The bank accounts were blocked twice due to, as far as JSC “Olainfarm” believes, unjustified actions of the bailiff, which could have been avoided if the bailiff would have impartially assessed the financial position of JSC Olainfarm.

We draw attention to the fact that the actions taken by the previous members of the Supervisory Board of JSC Olainfarm H.Velmers and K.Krastiņš, demanding compensation for dismissal, which was based on the loss of confidence by the majority of shareholders, are fundamentally contrary to the Guidelines of the Ministry of Justice on Good Corporate Governance for Companies in Latvia, which do not support the payment of compensation for dismissal.