In order to assess the activities, transactions and decisions of UAB „Lietuvos žirgynas“, an internal audit of the company will be conducted. This decision was taken today at the Extraordinary General Meeting of Shareholders of UAB „Lietuvos žirgynas“.

The audit will be carried out by external auditors, who will assess the legality and efficiency of the use of assets, find out whether sufficient measures have been taken to achieve the objectives of the company's strategic plan, and identify the reasons for the failure to meet the objectives set out in the State Expectations Letter submitted to the company.

This decision has been taken after taking into account the complex situation of UAB „Lietuvos žirgynas“ and the potential risks to the future prospects of the company. The Audit Committee of the Seimas also proposed an internal audit of the company.

The meeting amended the Articles of Association of UAB „Lietuvos žirgynas“, allowing the Ministry of Agriculture, as the company's main shareholder, to ensure direct control of the company during the transitional period until a new board of directors is appointed and a new CEO is elected.

Thus, until a new board is in place, its functions have been distributed between the General Meeting of Shareholders and the acting CEO.

The Ministry of Agriculture owns 89.6% of the shares in the company.