| 1. Reports of the Management Board, the Supervisory Board and the statement of the sworn auditor, approval of the Annual reports for 2024. |
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1) To take note of the reports of the Management Board, the Supervisory Board and statement of the sworn auditor of AS “MADARA Cosmetics”. 2) To approve separate annual report and annual consolidated report for the financial year 2024 that has been prepared by the Management Board and reviewed by the Supervisory Board of AS “MADARA Cosmetics”. |
| 2. Distribution of the profit. |
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1) To distribute in dividends from AS “MADARA Cosmetics” profit of the year 2024 in the amount of EUR 3 480 345.28, which amounts to EUR 0.92, or ninety-two euro cents per share. 2) To set that the dividend Ex-date (namely, the date from which no dividends will be paid for the shares in respect to which a decision was made to pay dividends) shall be 8 July 2025. To set that the dividend record date shall be 9 July 2025. To set that the dividend payment date shall be 10 July 2025. 3) To transfer part of the profit of 2024 in the amount of EUR 1 709 363.72 to the retained earnings of AS “MADARA Cosmetics”. |
| 3. Election of the auditor and determining the remuneration to the auditor. |
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1) To elect SIA “Deloitte Audits Latvia” (commercial company licence No. 43) as the auditor of the Annual Report of AS “MADARA Cosmetics” for the years 2025, 2026, 2027. 2) To determine the remuneration for the auditor for audit of the Annual Report for the years 2025, 2026, 2027 in the amount of EUR 42 700 per year, excluding VAT. |
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3) To assign the Management Board of AS “MADARA Cosmetics” to sign the contract with the elected auditor for audit of the Annual Report of AS “MADARA Cosmetics” for the years 2025, 2026, 2027. |
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4. Approval of amendments and new version to Articles of Association. 1) To approve the amendments to AS “MADARA Cosmetics” articles of association, by expressing the current wording of Clause 2.1. of articles of association: “2.1. The main types of commercial activities performed by the Company in accordance with the General Economic Activity Classification (NACE 2) are: 2.1.1. Manufacture of perfumes and toilet preparations (NACE 20.42); 2.1.2. Wholesale of perfume and cosmetics (NACE 46.45); 2.1.3. Retail sale of cosmetic and toilet articles in specialised stores (NACE 47.75); 2.1.4. Retail sale via mail order houses or via Internet (NACE 47.91).” 2) To approve the amendments to AS “MADARA Cosmetics” articles of association, by expressing the current wording of Clause 5.1. of articles of association: “5.1. The Supervisory Board consists of 3 supervisory board members.”. 3) To approve the new version of AS “MADARA Cosmetics” articles of association. 5. Election of the Supervisory Board and determining the remuneration to members of the Supervisory Board. |
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1) To elect to the position of a member of the Supervisory Board of AS “MADARA Cosmetics” for a period of 5 (five) years, determining the beginning of the term of office of the Supervisory Council from the date of registration in the Commercial Register: 1. Anna Ramata Stunda 2. Edgars Pētersons 3. Kati Sulin 2) To determine the remuneration for the performance of AS “MADARA Cosmetics” supervisory board member duties according to hourly rate, which is set at EUR 72,56 per hour (before tax), but in any case not more than EUR 1000 per month (before tax) for each supervisory board member. |
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.
About AS MADARA Cosmetics
Founded in 2006, AS MADARA Cosmetics is the largest cosmetics manufacturer in Latvia. The Company develops and produces natural skincare and decorative cosmetics, certified by ECOCERT/COSMOS, and exports to more than 35 countries. Since 2017, MADARA shares have been listed on Nasdaq Baltic’s alternative market First North. The Company and the MÁDARA brand have received multiple awards for innovation, sustainability, design, and product excellence, both in Latvia and internationally.
In 2025, MADARA obtained B Corp certification, affirming its commitment to responsible, sustainable, and transparent business practices. It has also been recognised as a family-friendly workplace (2023) and a top employer in the manufacturing sector (2023, 2024), while the MÁDARA brand was named the greenest brand in the Baltics (2023).
In 2024, AS MADARA Cosmetics reported a consolidated turnover of EUR 21.52 million, marking an 11% like-for-like year-over-year increase.