Latvijas kugnieciba
About share capital decrease

Latvijas kugnieciba 

22.08.2014 15:13

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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 the commitments 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/
News Source: NASDAQ OMX



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Language:     English
Company:      Latvijas kugnieciba
              
               
              Latvia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LV0000101103
WKN:          
 
End of Announcement                             DGAP News-Service
 
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