In accordance with section 270 of Latvian Commercial Law, the VN management confirms that it will convene an extraordinary shareholders meeting in Riga (with that sole agenda item) within the time limit specified by section 270 (2¹) of this law, and will confirm all details (date, location, etc) of the meeting in due time (at least 30 days in advance) according to the law.

 

However the VN management wishes to advise all its other shareholders that we regard this request as frivolous, unnecessary and a complete waste of the company’s time and money. The current composition of the VN supervisory council as elected six weeks ago admirably reflects the interests of the major shareholders, including LNT, who were clearly prepared for the last shareholders’ meeting (contrary to their assertions) as evidenced by current Supervisory Council member R. Meroni’s consent to serve as a VN Supervisory Council member dated 5 days prior to the meeting. We therefore urge our other shareholders to convince LNT to cancel their request and save all of your time and money.

 

 

 

Additional information:
         Elīna Dobulane
         Press Secretary
         JSC “Ventspils nafta”
         Phone: 25959447
         E-mail: elina.dobulane@vnafta.lv