Pursuant to the resolution of the extraordinary shareholders’ meeting of JSC Latvijas kuģniecība (LK) (associated company of JSC Ventspils nafta) held today, December 17, the member of the LK Supervisory Council Simon D.Boddy has convened the first meeting of the newly elected LK Supervisory Council.

During the meeting, members of the Supervisory Council adopted a resolution on election of the Chairman of the LK Supervisory Council – Simon D.Boddy is appointed in this position, in turn Mikhail Dvorak is elected as the Deputy Chairman of the Supervisory Council.

Taking into account that members of the LK Management Board have lost the trust of the LK Supervisory Council, have not been able to manage LK in accordance with regulatory enactments of the Republic of Latvia, have not duly fulfilled their duties, have concluded transactions that are disadvantageous to LK and its Group, thus incurring losses and causing damages to the interests of LK and its subsidiaries, as well as grossly breaching their powers, members of the LK Supervisory Council as of December 17, 2010 dismissed Imants Sarmulis, Andris Linužs, Edvīns Bērziņš and Pavel Semenyuta from the position of member of the LK Management Board.

The LK Supervisory Council has appointed Ashley John Neale and Michael Main King as members of the LK Management Board, by fixing the beginning of term of powers on December 17, 2010, in turn Paul Thomas is appointed as the Chairman of the LK Management Board.
 

Ventspils nafta

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