Draft resolution for regular shareholders' meeting of JSC

DRAFT


RESOLUTION OF ANNUAL SHAREHOLDERS' MEETING OF JOINT STOCK COMPANY “VENTSPILS
NAFTA” OF NOVEMBER 11, 2010 


At the hotel “Hotel de Rome”                     				
Kaļķu Street 28, Riga 							November 11, 2010
	



Amendments to Articles of Association



1. To approve amendments to Articles of Association of joint stock company
“Ventspils nafta” (in appendix No. ___). 




Chairman of the Meeting:					/signature/
Secretary:							/signature/




DRAFT

APPROVED
by regular shareholders' meeting
of joint stock company “Ventspils nafta”
dated November 11, 2010
(minutes No. ___)

AMENDMENTS TO ARTICLES OF ASSOCIATION OF JOINT STOCK COMPANY “VENTSPILS NAFTA”

1.	To express title of Chapter 1 of Articles of Association of joint stock
company “Ventspils nafta” (hereafter referred to as the Articles of
Association) in the following wording: 
„1. Firm and types of business activity”.

2.	To supplement the Articles of Association with a new clause 1.2. in the
following wording: 
„1.2. The main types of the company's business activity according to
statistical classification (NACE 2nd wording) of economic activity are as
follows: 
1.2.1. Activity of holding companies (64.2);
1.2.2. Activity of head offices (70.1);
1.2.3. Other types of business activity.

3.	To express Chapter 7 in the following wording: 
„7. Audit Committee and Auditor
7.1.	Audit committee is elected by shareholders' meeting for the period of 3
(three) years. Audit committee consists of 3 (three) audit committee members. 
7.2.	Work of the audit committee is conducted by its Chairman who is elected by
audit committee members from among themselves. 
7.3.	The audit committee works in accordance with regulations approved by it.
7.4.	Remuneration of audit committee members is fixed by shareholders' meeting.
7.5.	Audit and auditor's opinion on annual report of the Company is provided by
a certified auditor. 
7.6.	 Every year auditor is selected upon approval of annual report by regular
meeting of shareholders.” 

In Riga, __________ ___, 2010

Chairman of the Management Board for 
Joint stock company “Ventspils nafta”				Simon D.Boddy
Draft resolution for regular shareholders' meeting of JSC Ventspils nafta, November 11, 2010
