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Published: 2021-09-30 10:59:37 CEST
Amber Latvijas balzams
Decisions of general meeting

Latvijas balzams announces dividend payments to shareholders and a new name

After the Annual Meeting of Shareholders of JSC Latvijas balzams, which took place on 30 September 30, the management of the leading producer of alcoholic beverage in the Baltic States informs about the payment of dividends to the shareholders of JSC Latvijas balzams in the amount of 3.4 million euros. The meeting also decided that in May 2022 the name of the company will be changed. Retaining part of the historical name, next year it will be changed to Amber Latvijas balzams, adding a recognition mark from the parent company, Amber Beverage Group.

The Shareholders' meeting decided to pay dividends of EUR 3 448 574 or EUR 0.46 per share to the shareholders of JSC Latvijas balzams from accumulated before 31 December 2017 and not distributed profits. The dividend payment date is set for 18 October 2021.

“We assume that shareholders will be satisfied with this news. The decision made by the shareholders in favour of the payment of dividends testifies to the company's stability and faith in its further development,” said Intars Geidāns, Chairman of the Board of JSC Latvijas balzams

As previously reported, six years ago, JSC Latvijas balzams joined the rapidly-growing producer and distributor of alcoholic beverages, Amber Beverage Group, which has decided to include an additional recognition mark to several of its companies around the world - Amber. The Shareholders' meeting approved the decision to change the name from JSC Latvijas balzams to JSC Amber Latvijas balzams, stipulating that the changes will take effect on 1 May 2022.

"Being in the Group has brought us several benefits and these changes will help us to increase the visibility of the company in the global arena and attract new customers and larger orders," explains Intars Geidāns. "As far as employees are concerned, it is already expected that our employees will be affected by these changes only positively, as this will strengthen cooperation within the Group and, of course, employees will not have any changes in working conditions: contracts, jobs and other obligations."

In addition to the above-mentioned decisions, the Shareholders' meeting approved the Annual report of JSC Latvijas balzams for 2020, the reports of the Board and the Council and the statement of the Sworn auditor. It was decided to leave the 2020 profit of EUR 9 324 305 undistributed. During the Shareholders' meeting, an auditor was elected to carry out the audit of Annual reports 2021 - the auditing firm PricewaterhouseCoopers. At the end of the meeting, a new Council was elected for the next five years: Rolands Gulbis, Valizhan Abidov, Velga Celmiņa, Guntars Reidzāns and Boriss Nešatajevs.

Joint stock company Latvijas balzams is the leading producer of alcoholic beverages in the Baltics with a rich history since 1900. The company owns two alcoholic beverage plants in Riga – a strong alcoholic beverage plant and a sparkling wine and light alcoholic beverage plant. Latvijas balzams is one of Latvia’s leading exporters – its products are available in 180 countries around the world.

More information about the decisions of the Shareholders' meeting on 30 September 2021 can be read in the section Investors of the company's website.


JSC Latvijas balzams

Chairman of the Board

Intars Geidāns