Shareholders' meeting of the public joint stock company Ventspils nafta was not held today, on October 15, 2009, due to unpredictable circumstances - one of the Management Board members had post-surgical complications. For that reason, according to requirements of Section 278 of the Commercial Law, it was not possible to ensure quorum of Management Board in order to make and sign list of shareholders, which is necessary to hold a shareholders' meeting. In order to ensure reviewing of the issues on the agenda of today's meeting - inter alia regarding payment of dividends - the Chairman of the Supervisory Council for JSC Ventspils nafta informed that a Supervisory Council meeting has been urgently called to elect a new Management Board member of the company. The Management Board for JSC Ventspils nafta will therefore further on work in composition of four members as provided in the Articles of Association, thus avoiding possibility of lack of quorum due to extraordinary circumstances. A resolution will also be adopted in the nearest future on convocation of a new extraordinary shareholders' meeting. “We will soon announce convocation of a new extraordinary shareholders' meeting, because we have to review really relevant issues - both on amendments to Articles of Association and payment of dividends. As we have informed before, JSC Ventspils nafta has paid already 6 million lats in corporate income tax for 2008, and we are glad that all shareholders have the opportunity to decide on such an important issue as a result of the effective work in the previous years,” emphasizes President and Chairperson of the Management Board for JSC Ventspils nafta Olga Pētersone. JSC Ventspils nafta has already informed that two issues were included in the agenda of the extraordinary shareholders' meeting - Amendments to Articles of Association and Payment of Dividends. JSC Ventspils nafta is the central holding company in a transit-oriented Group whose task is to manage the investments in subsidiaries by promoting the Group's joint values and growth in the value of each subsidiary individually. JSC Ventspils nafta Group is working in the following areas: transshipment of crude oil and petroleum products; transport of crude oil and petroleum products by pipelines; a shipping business. JSC Ventspils nafta For further information - Gundega Vārpa, Public Relations and Advertising Manager, tel.: +371 67229182; e-mail: gundega.varpa@vnafta.lv www.vnafta.lv
Extraordinary shareholders' meeting of JSC Ventspils nafta is hot held due to unpredictable circumstances
| Source: Ventspils nafta