Riga, 2013-05-15 16:09 CEST (GLOBE NEWSWIRE) -- The Shareholders’ Meeting of Latvenergo AS was held on 15 May 2013 at 12:00 at the premises of Latvenergo AS at 12 Pulkveža Brieža Street, Riga.
All shares of Latvenergo AS are owned by the Republic of Latvia and held by the Ministry of Economics of the Republic of Latvia, whose interests at the Shareholders’ Meeting are represented by the State Secretary of the Ministry of Economics.
The resolutions adopted at the Annual Shareholders’ Meeting:
1. To approve „Latvenergo konsolidētais 2012.gada pārskats” and „Latvenergo Consolidated Annual Report 2012” (English translation), prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;
2. To approve „Akciju sabiedrības „Latvenergo” 2012.gada pārskats” [Latvenergo Public Limited Company Annual Report 2012], prepared in accordance with the Annual Accounts Law of the Republic of Latvia;
3. To approve the document „Latvenergo koncerna Ilgtspējas un Gada pārskats par 2012.gadu” and its English translation „Latvenergo Group Sustainability and Annual Report 2012”;
4. To approve the distribution of net profit of Latvenergo AS for the year 2012 of LVL 31,718,182 as follows:
1) LVL 28,546,620 to be paid out to the state in dividends;
2) LVL 3,171,562 to be transferred to Latvenergo AS reserves for further development of the capital company;
5. To appoint ERNST & YOUNG BALTIC SIA to conduct the audit for the year 2013 of Latvenergo AS, determining a remuneration of the auditor up to LVL 25,220 excl. VAT.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv
www.latvenergo.lv/investors/eng
About Latvenergo
The Latvenergo Group is the largest power supply merchant in the Baltics, engaging in electricity generation and trade as well as providing electricity distribution and management of transmission system assets. Latvenergo holds one-third of the entire Baltic electricity market. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa3/stable.
The Latvenergo Group includes the parent company Latvenergo AS (electricity generation and trade, thermal energy generation) and its subsidiaries Latvijas elektriskie tīkli AS (management of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity trade in Estonia), Elektrum Lietuva UAB (electricity trade in Lithuania) and Liepājas enerģija SIA (thermal energy generation and trade, electricity generation), as well as Elektrum Latvija SIA, a subsidiary of Elektrum Eesti OÜ.