JSC „Ventspils nafta” management points out that on 30 April associated company JSC „Latvijas Kugnieciba” (LASCO) has published false information regarding convening VN shareholders meeting on 1 June, 2010 on FCMC and NASDAQOMX Riga reporting systems. VN management has not issued such statement. VN asks shareholders to ignore misleading information, as no shareholders meeting has been convened on 1 June, 2010.

VN management also points out that on 29 and 30 April fake announcements on convening VN shareholders meeting on 1 June has been published on „Dienas bizness”, „Diena”, „Chas” and „Neatkariga rita avize”. The requisites and logo of VN have been illegally used in the publications where falsified information has been published. VN will use the possibilities provided by law for protection of its rights.

Taking into account the VN Supervisory Council decision and the request by several representatives of shareholders to convene a shareholders’ meeting expressed on 28 April, 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, and informed officially about it already on 28 April. 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 published their approved audited financial report for 2009.

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

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