Latvijas Kuģniecība
THIS COMPANY IS PART OF VENTSPILS NAFTA GROUP THIS COMPANY IS PART OF VENTSPILS NAFTA GROUP
 
 

About the share capital decrease

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About the share capital decrease

august 25, 2014 / News

JSC “Latvijas kuģniecība” informs that in accordance to the decision of annual general meeting that took place on June 11, 2014 to reduce the share capital of JSC “Latvian Shipping Company” by EUR 220 million to EUR 60 million, reducing the nominal value of a bearer share from EUR 1.4 to EUR 0.3, the respective amendments to the Articles of association are registered within Commercial registry on August 21, 2014.

The calculation date for reduction of the share capital is set on September 1 of this year.

The share capital is reduced with an aim for shareholders of JSC “Latvian Shipping Company” to be able to decide about distribution of the possible profit in dividends, if the circumstances and thecommitments would allow that.

The new articles of Association attached.

About JSC “Latvian Shipping Company”
In the medium-sized and handy tankers categories JSC „ Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the leading ship owners in the world, and in terms of transport volumes of petroleum products it is also in a leading position among similar companies in Northern Europe. It owns 16 modern ships, employing more than 700 professional and highly qualified seamen from Latvia.The average age of the fleet is 6.5 years. All ships have received ISM (International Safety Management) certificates.

Additional information:
Elīna Dobulāne, Communications Consultant
JSC "Latvian Shipping Company"
Phone: +371-25959447
E-mail: elina.dobulane@vnafta.lv
www.lk.lv/lv/