The Management Board of AS “MADARA Cosmetics”, registration number: 40003844254, legal address: 131 Zeltiņu Street, Mārupe county, Mārupe, LV 2167, Latvia (hereinafter – the “Company”), hereby convenes the Company’s Annual General Meeting of shareholders. The meeting will take place on 20 June 2025 at 11:00 at the Company’s premises: 131 Zeltiņu Street, Mārupe county, Mārupe, LV 2167, Latvia.
The Management Board of the Company will provide the shareholders with the possibility to vote before the meeting and to connect to the meeting remotely, without physical attendance.
The agenda:
- Reports of the Management Board, the Supervisory Board and statement of the sworn auditor, approval of the Annual reports for 2024.
- Distribution of the profit.
- Election of the auditor and determining the remuneration to the auditor.
- Approval of amendments and new version to Articles of Association.
- Election of the Supervisory Board and determining the remuneration to members of the Supervisory Board.
The record date for shareholders’ participation at the Annual Meeting of shareholders of the Company is 12 June 2025. Only the persons who are shareholders on the record date with the number of shares held by them on the record date are authorized to participate in the Annual Meeting of shareholders of the Company on 20 June 2025, as well as to vote in writing before the shareholders' meeting.
Shareholders have a right to participate in the meeting (including filling and submitting the voting before the meeting) in person or by mediation of their legal representatives or authorized persons. If the shareholder is represented by the authorized person, the power of attorney should be attached to the voting or the application form but legal representatives should attach to the voting or the application form the document proofing representation rights. The power of attorneys issued by natural persons should be notarised. The form of a written power of attorney is available on website the Company https://investors.madaracosmetics.com/ and website of AS Nasdaq Riga http://www.nasdaqbaltic.com, and is published together with this notification.
Voting prior to the meeting
Shareholders are invited to exercise their rights to vote in writing before the shareholders' meeting by sending a vote signed with a secure electronic signature to the e-mail: ir@madaracosmetics.com or signed in paper form by post to the legal address of the Company: Zeltiņu iela 131, Mārupes novads, Mārupe, LV-2167, Latvija.
The required voting form will be available on the Company webpage at https://investors.madaracosmetics.com/ as well as on AS Nasdaq Riga www.nasdaqbaltic.com.Such a vote will be considered if received by 19 June 2025. The voting form is published together with this notification.
Shareholders who voted before the meeting will be considered present at the meeting. A shareholder who has voted before the shareholders' meeting may ask the Company to confirm the receipt of the vote. The Company shall send a confirmation to the shareholder immediately upon receipt of the shareholder's vote.
Participation and voting at the meeting
The registration and identification of shareholders will take place in the following order:
- The shareholder must submit the application form signed with a secure electronic signature to the e-mail address: ir@madaracosmetics.com or a signed in paper form by post to the legal address of the Company: 131 Zeltiņu Street, Mārupe county, Mārupe, LV 2167, Latvia, by 19 June 2025 at 17:00. If the shareholder wants to participate in the meeting remotely, a copy of shareholder’s (or representative’s) identification document together with contacts (phone number and e-mail) should be attached to the application form in order to carry out identification of the shareholder. The application form is published together with this notification.
- Shareholders applied for participation in the meeting remotely will receive an individual connection link to the meeting by indicated e-mail until 9:30 on 20 June 2025.
- Shareholders who have applied for participation in the meeting remotely using the link provided must join the meeting not later than at 10:00 and be prepared to present a personal identification document to carry out the video identification.
- The registration of shareholders who have applied for participation in the meeting in a presence will take place on the day of the shareholders’ meeting on 20 June 2025 from 10:30 to 11:00 at the meeting venue. Shareholders or their representatives should present passport or other identification document upon registration.
The shareholders representing at least one-twentieth of the Company's share capital, have the right to request the Company's Board to include additional issues on the agenda of the Meeting no later than by 5 June 2025 (including), by sending them by post to the legal address of the company at 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia, or by sending them to the e-mail address: ir@madaracosmetics.com signed with a safe electronic signature.
The Company’s Management Board proposal for the profit distribution, the draft resolutions including candidates of the Supervisory Board members proposed by shareholders are published together with this notification.
Information on the shareholders’ meeting is also available on the website of the Company https://investors.madaracosmetics.com/ and website of AS Nasdaq Riga http://www.nasdaqbaltic.com. The total amount of shares and the total amount of the shares with voting rights of the Company is 3 782 984.
Annexes:
Application form for the participation at the shareholders’ meeting.
- Power of Attorney form.
- Management Board proposal on distribution of profit.
- Draft resolutions.
- Voting form.
- Report of the Supervisory Board.
- Amendments to Articles of Association.
- New version to Articles of Association.
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.