Changes have been made to the composition of the Board of Conexus Baltic Grid
Today, May 12, the joint shareholder meeting of the natural gas transmission and storage system operator JSC “Conexus Baltic Grid” (Conexus) was elected by the public council, with changes to its existing composition. 7 members of the Council have been approved for a period of three years.
7 members of the Council have been elected as members of the Council: Ilmārs Šņucins, Normunds Šuksts, Ilze Aleksandroviča, Zane Āboliņa and Tomohide Goto, who have worked on the Council until now, as well as Takumi Sasaki and Viktors Sentuhovskis, who represent the shareholder “MM Infrastructure Investments Europe Limited”. Ilmārs Šņucins, who also performed his duties in the former Council, was elected Chairman of the Council, while Tomohide Goto will continue to be Vice-President of the Council.
In addition to the election of the members of the Council, the shareholder meeting reviewed and approved the company's 2020 annual report, the dependency report and the non-financial report, the new version of the company's statutes, and the decision on the use of the company's profits has been taken. At the same time, the meeting sets out and approves the remuneration policy of the Board and the Board members, as well as the elected sworn auditor, PricewaterhouseCoopers SIA, who will be responsible for auditing the Company's next three-year financial statements and dependency reports.
"In view of the change of shareholders of Conexus in 2020, the shareholder meeting decided to use the company's profits by examining the possibility of paying higher dividends. In assessing the capital structure, Conexus has become accustomed to the possibility of paying higher dividends to shareholders of the company from the undistributed profits of previous years, notes Uldis Bariss, Chairman of Conexus Board.
At the same time, the U.Bariss stresses that this decision will not in any way affect end-users of natural gas and the price of services, as well as the company's operations and development plans.
In view of the limits imposed by Covid-19 in the country and in order to ensure the health of meeting members, the meeting of shareholders was organised remotely.