Emitents | Latvijas kuģniecība, AS (48510000VYR04HZGC213) |
Veids | Citi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2014-06-10 17:33:59 |
Versijas komentārs | |
Teksts |
For shareholders of JSC “Latvian Shipping Company” to be able to decide about distribution of the possible profit in dividends, if the circumstances and the commitments would allow that, pursuant to the opinions of independent experts, the company’s Management has proposed in the meeting on June 11 to decide to cover the accumulated losses by reducing the company’s share capital. It is a standard procedure supported both by experts of the audit company “Pricewaterhouse Coopers” Ltd and by consultants of the international law office “EvershedsBitans”. During the shareholders’ meeting it is proposed to reduce the share capital of JSC “Latvian Shipping Company” by EUR 220 million to EUR 60 million, thereby reducing the nominal value of a bearer share from EUR 1.4 to EUR 0.3, as well as to set the calculation date for reduction of the share capital on September 1 of this year. “In the course of several years JSC “Latvian Shipping Company”
has accumulated considerable losses. Theoretically there is a
possibility to cover these losses from the possible future profit
of the company, however, after carrying out due diligence with
independent experts, the company’s Management Board is proposing to
reduce the share capital, which is a standard procedure in such
cases. For shareholders that would mean a possibility to gain real
income from the invested capital in the future, when circumstances
would allow that, or to decide about commencement of a new
investment program, which would most likely mean increase in the
investment value,” points out the Chairman of the Management Board
of JSC “Latvian Shipping Company” Robert Kirkup. The agenda of the regular shareholders’ meeting of JSC “Latvian
Shipping Company” to be held on Wednesday, June 11, is available
here: About JSC “Latvian Shipping Company” In the medium-sized and handy tankers categories JSC „ Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the leading ship owners in the world, and in terms of transport volumes of petroleum products it is also in a leading position among similar companies in Northern Europe. It owns 16 modern ships, employing more than 700 professional and highly qualified seamen from Latvia. The average age of the fleet is 6.5 years. All ships have received ISM (International Safety Management) certificates. Elīna Dobulāne, Communications Consultant |
Pielikumi |
|