Today the Shareholders’ Meeting of AS Sadales tīkls reviewed a resignation letter from Andis Pinkulis and passed a decision to recall him from the duties of the Chairman of the Management Board. In his resignation letter, which is addressed to the Shareholders’ Meeting, A.Pinkulis bases his decision on assuming the responsibility for the shortcomings in the control of the company's internal regulations.  He wishes to the workers of Sadales tīkls to carry out the commenced network modernization and efficiency increase programmes.

Until the new Members of the Management Board are elected, the Management Board of Sadales tīkls AS will perform its duties with three Members of the Management Board, as the work will be continued by Baiba Priedīte, Inga Āboliņa and Raimonds Skrebs. The duties of the Chairperson of the Management Board will be carried out by B.Priedīte who has worked in the Management Board of Sadales tīkls AS since 2016. Previously B.Priedīte held the position of Business Process Manager at SEB banka AS, where she implemented large and important projects for the bank operation, and developed management of customer relations and customer service of the bank. An open competition will be held to fill in the vacant positions of the Members of the Management Board of Sadales tīkls AS.

Sadales tīkls AS is the largest distribution system operator in Latvia, which operates independently and distributes electricity to more than one million customer sites, with its service covering 99% of the territory of Latvia. The company ensures the operation, renewal and scheduled development of electricity distribution networks, supervision of electricity consumption, loss reduction measures and electricity tracking, as well as formation of new connections. Sadales tīkls AS is supervised by the Shareholders' Meeting, whose interests are represented by Latvenergo AS as the Shareholder of AS Sadales tīkls.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is the largest pan-Baltic power supply utility operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.