Resolutions of the Annual Shareholders’ Meeting

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| Source: Latvenergo
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Riga, 2014-05-12 16:23 CEST (GLOBE NEWSWIRE) -- The Shareholders’ Meeting of Latvenergo AS was held on 12 May 2014 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 or by his authorized representative.

The resolutions adopted at the Annual Shareholders’ Meeting:

1. To approve Latvenergo konsolidētais 2013.gada pārskats”, with financial statements prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

2. To approve „Latvenergo Group Consolidated Annual Report 2013”, with financial statements prepared in accordance with the International Financial Reporting Standards as adopted by the European Union;

3. To approve „AS „Latvenergo” 2013.gada pārskats” [Latvenergo Public Limited Company Annual Report 2013], prepared in accordance with the Annual Accounts Law;

4. To approve the document „Latvenergo koncerna Ilgtspējas un Gada pārskats par 2013.gadu” and its English translation Latvenergo Group Sustainability and Annual Report 2013”;

5. To approve the distribution of the net profit of Latvenergo AS for the year 2013 of EUR 26,227,927 as follows:

1) EUR 23,605,134 to be paid out to the state in dividends;

2) EUR 2,622,793 to be transferred to Latvenergo AS reserves for further development of the capital company;

6. To appoint ERNST & YOUNG BALTIC SIA to conduct the audit of Latvenergo AS for the year 2014, determining a remuneration of the auditor up to EUR 35,145 excl. VAT.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail:
investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. 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.

Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (management of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity  supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply), as well as Elektrum Latvija SIA (electricity supply), a subsidiary of Elektrum Eesti OÜ.