JSC „Latvijas kuģniecība” reminds to its shareholders, stock exchange JSC “NASDAQ OMX Riga”, Financial and Capital Market Commission and law enforcement bodies that the JSC “Latvijas kuģniecība” extraordinary shareholders meeting that was due to be convened on 08 October 2010 will not take place as it has been postponed to 17 December 2010.

 

Management Board of JSC “Latvijas kuģniecība” warns about possible incitements and obvious attempts to hold an illegitimate meeting, as one of the company’s shareholders – JSC “Ventspils nafta” ignores the fact of calling off of the meeting and has released illegitimate invitation to attend a non-existing LSC shareholders meeting tomorrow, on 08 October 2010. The management Board of JSC „Latvijas kuģniecība” indicates that it has not drawn up a list of shareholders for the extraordinary shareholders meeting of 08 October 2010, thus any attempts to hold the JSC „Latvijas kuģniecība” shareholders meeting are to be regarded as illegal.

 

JSC “Latvijas kuģniecība” reminds that the planned extraordinary shareholders meeting was postponed taking into account the explicit objections of one of the shareholder’s – state of Latvia – representative State Social Insurance Agency against amendments to the JSC “Latvijas kuģniecība” Articles of Association that were proposed by JSC “Ventspils nafta” and included in agenda of the meeting, and that according to the Agency’s opinion foresee outright ignorance of the state interests and thus coarsely breaches the JSC “Latvijas kuģniecība” Privatization Regulations. State Social Insurance Agency has requested to not to permit review of such illegitimate amendments and discrimination of the state interests. A similar position in the notification that was released yesterday, 6 October 2010, to the Prime Minister and the Minister of Economics expressed the Minister of Welfare appealing to the government officials not to permit even the possibility to review such illegitimate amendments to the Articles of Associations that endanger the state interests.

 

Management Board of the JSC “Latvijas kuģniecība” will continue its operation in order to ensure execution of all shareholders’ interests pursuant to provisions of the law and other regulations.

 

Additional information:

Ģirts Apsītis

Adviser of the Chairman of the Management Board

Latvian Shipping Company

Phone: +371 67020126