JSC Ventspils nafta management points out that information published on LETA news agency today, 28 April at 13:50 regarding convening VN shareholders meeting on 1 June is false. No shareholders meeting has been convened on 1 June.

Taking into account the VN Supervisory Council decision and the request by several representatives of shareholders to convene a shareholders’ meeting expressed today, VN management has convened new annual shareholders meeting on 11 November, 2010, to be held at 10:00 at the Hotel de Rome, Kaļķu Str 28, Riga. VN management points out that the date for the shareholders meeting has been chosen because VN cannot approve their audited financial report for 2009 until the assoicated company „Latvijas Kuģniecība” has approved their audited financial report for 2009.

As informed, the VN Annual General Meeting (AGM) that was scheduled to be held today, 28 April did not take place. Therefore no VN AGM resolutions, including resolutions on convening new shareholders meeting or regular shareholders meeting, were made today.

VN management also notes that in order to make any shareholders resolutions, a shareholders meeting must take place and it must be attended by shareholders owning at least 50% of the stock capital. Commercial law does not allow seperate shareholders to convene a shareholders meeting, therefore any such attempt from shareholders’ side can be judged as contrary to the Commercial law.

Ventspils nafta

Zane Bojāre
JSC „Ventspils nafta” PR Manager
E-mail: zane.bojare@vnafta.lv
Phone.: 67821691; 29706733