Hereby AS „Rīgas kuģu būvētava” declares that on November 14^th, 2018 Riga Regional Court rejected to initiate a legal proceedings concerning to the appeal of AS „Rīgas kuģu būvētava” on the Riga City Vidzeme Urban District Court’s judgment of October 02^nd, 2018.

Thus become effective the Riga City Vidzeme Urban District Court’s judgment of October 02^nd, 2018, where the application for legal protection proceedings of the AS „Rīgas kuģu būvētava” was rejected and case of legal protection proceedings was dismissed.

As it was already mentioned before on May 28^th, 2018 the Riga City Vidzeme Urban District Court resolved to initiate the legal protection proceedings of the Company, what at the opinion of the Company were the only right measures to get out of the complex conditions that have arisen under the influence of various circumstances.

Unfortunately, for reasons unknown to the Company, the Riga Regional Court did not even considered the appeal, although at the discretion of the Company the conclusions specified in the judgment of the Riga City Vidzeme Urban District Court were based on the wrong assessment of circumstances of the case, as well as the court have misinterpreted the rules of substantive law and breached rules of procedural law, which led to a misinterpreted judgment of the case.

The Company admits that decision of the Riga Regional Court could have a significant impact on the future of the Company, but notwithstanding to that the Company currently continues its daily economic activity and is determined to be able to re–establish its activities, thereby ensuring the stability and competitiveness of the Company, as well as the fulfilment of its obligations towards its creditors.

         The Board of Directors of AS „ Rīgas kuģu būvētava”