JSC Ventspils nafta (VN) management informs that today it has received a letter from the Register of Enterprises of the Republic of Latvia (RE) where RE has expressed an opinion, from which can be inferred that the recurrent general shareholders’ meeting on June 1, 2010 has been convened unlawfully. RE acknowledges in the letter that on April 28, 2010, shareholders representing 48.03% of the share capital of VN were not entitled to take any decisions, including on convocation of the recurrent general shareholders’ meeting on June 1, 2010.

RE also confirms in the letter that Sections 269 and 270 of the Commercial Law names subjects who are entitled to convene a shareholders’ meeting, therefore individual shareholders are not entitled to convene a shareholders’ meeting.

Management of VN emphasizes that no shareholders’ meeting can take place tomorrow, June 1, because it has not been convened in accordance with requirements of the Commercial Law and the Financial Instrument Market Law.
 

Ventspils nafta

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