While continuing intense work on preparation of audited reports of the public joint stock company Ventspils nafta for 2008, the Management Board for JSC Ventspils nafta has gained firm certainty after being advised by auditor of the reports on possibility to convene general shareholders' meeting of JSC Ventspils nafta by July 31, 2009. Issue on approval of audited reports for 2008 will be included in the agenda of the meeting. JSC Ventspils nafta timely informed the supervision authorities that it would not be possible to submit the company's audited reports for 2008 to the Official Obligatory Information Centralized Storage System of and to JSC NASDAQ OMX Riga by 30 April. However their submission was strictly guaranteed within the deadline established in the Law on Consolidated Annual Reports - i.e. by 31 July. JSC Ventspils nafta has timely submitted all the necessary information for precise and comprehensive preparation of audited annual reports for 2008. Detailed and full preparation of audited reports of JSC Ventspils nafta for 2008 has been complicated by transactions which took place in late 2008. According to recommendations given by auditors and experts and requirements of the International Financial Reporting Standards (IFRS), more accurate and intense approach is necessary as to drawing up the consolidated report of JSC Ventspils nafta for 2008 in order to guarantee a proper reflection of the business assets in the annual reports in compliance with the respective Latvian and international standards. Currently, according to the opinion of certified auditor elected by shareholders' meeting of JSC Ventspils nafta, approval of audited reports of JSC Ventspils nafta will not delay the convening of the general shareholders' meeting before July 31, 2009. AS Ventspils nafta For further information - Gundega Vārpa, Public Relations and Advertising Manager, tel.: +371 67229182; e-mail: gundega.varpa@vnafta.lv www.vnafta.lv
JSC Ventspils nafta to hold general shareholders' meeting no later than 31 July
| Source: Ventspils nafta