As already previously it was informed by the AS „Rīgas kuģu būvētava” (Company) on March 20^th, 2019 the Riga City Vidzeme Urban District Court resolved to initiate the legal protection proceedings of the Company. The sole purpose of the measure is to preserve the activities of the Company and retain its working profile, as well as to fulfil its liabilities towards creditors and to restore the Company’s solvency.

The Company currently has developed and presented the legal protection proceedings measures plan of the Company to its creditors for approval, where the plan will be submitted to the court for approval not later than on June 20^th, 2019.

As one of the most important provisions of the plan are the conditions that all employees of the Company will be paid the full amount of calculated and unpaid wages and compensations immediately after the plan has been approved by the court. Moreover the necessary financial assets for these payments have already been credited to the respective current account.

Company is thankful to the State Revenue Service and other creditors for the shown understanding and support in implementation of the legal protection proceedings measures plan of the Company.

The Company also informs that the term of the publication of financial information for the first three report months of 2019 is delayed, but considering that preparation of the financial report of year 2018 is delayed and accordingly preparation of the financial report of year 2018 is an essential precondition for the preparation and publication of the financial information for the first three report months of 2019, the Company will publish the financial information for the first three report months of 2019 within a two weeks after the publication of the financial report of year 2018.

The Board of Directors of AS „Rīgas kuģu būvētava”