Role of the Audit Committee

The Audit Committee’s key task is to independently review and monitor how the company prepares its financial statements, manages risks and implements internal control procedures. By evaluating these areas regularly and from a neutral perspective, the committee helps ensure that key project and financing decisions are thoroughly assessed, well-documented and aligned with investors’ long-term interests. For bond investors in Preses Nama Kvartāls, this means stronger assurance that the raised capital is used responsibly and that potential risks are identified and managed in a timely manner.

 Members and their experience

The Audit Committee is composed of three members: Roberts Stūģis, Kęstutis Kirejevas and Marius Žemaitis. Together they bring many years of experience in finance, business leadership, investment and real estate fund management across the Baltic region, providing a strong and diverse competency mix for overseeing a large-scale development like Preses Nama Kvartāls.

Roberts Stūģis, an independent member,  has a long-standing background in corporate finance, audit and financial management, including senior roles in the Big Four audit company, banking and corporate sectors, where he has been responsible for financial reporting, risk oversight and capital allocation decisions. His experience on management boards and in working as auditor gives valuable insight into how to build robust financial control systems.

Kęstutis Kirejevas, an independent member, is an experienced manager and finance professional with a proven track record in growing company value through strategic, operational and financial planning. He has held CFO, board and CEO positions and has been directly responsible for budgeting, financing arrangements, cash flow management and cooperation with auditors and banks, which is highly relevant for supervising a capital-intensive real estate project.

Marius Žemaitis is a fund manager and board member at Lords LB Asset Management with  nineteen  years of experience in real estate fund management and development. He manages sizeable commercial real estate portfolios and development programmes across the Baltics, including multiple award‑winning assets, and has deep knowledge of investment management, financing structures and international capital markets.

By combining strong internal management with an Audit Committee, Preses Nama Kvartāls aims to meet the expectations of institutional and private investors who demand high standards of governance and transparency. The committee’s diverse expertise in finance, management and real estate investment will support the Supervisory Council and management of AS PN Project in making balanced, well‑informed decisions throughout the development and operation of the project.