AS MADARA Cosmetics has received notification of the resignation of Supervisory Board member Sari Hannele Rosin with effect from 29 November 2024.

MADARA Cosmetics announces that the Supervisory Board of the company is authorized to act and will continue its work until the next Shareholders' Meeting in the composition of 4 members: Anna Ramata-Stunda (Chairperson), Anna Andersone, Liene Drāzniece and Edgars Pētersons.

"We appreciate Sari Rosin's contribution to the development of MADARA Cosmetics. Sari has contributed with her professional experience and has been present at many important decisions in the development of MADARA Cosmetics during these almost 5 years. On behalf of the company, I would like to thank her very much and appreciate the cooperation to date," says Gunta Šulte, CEO.

New Supervisory Board elections will take place at the 2025 Annual Shareholders' Meeting.

Management Board of AS “MADARA Cosmetics”

The shares of AS Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.

AS MADARA Cosmetics was founded in 2006 and has become one of the leading cosmetics manufacturers in Northern Europe and a leader in Latvia. The company' s brand MÁDARA is a pioneer in the natural skincare and make-up segment in Latvia. Since November 2017, the company's shares have been listed on the Nasdaq Baltic alternative market First North. For more information, visit investors.madaracosmetics.com.