LatRosTrans
This company is part of Ventspils nafta group This company is part of Ventspils nafta group
 
 

About resolution of shareholders’ meeting of “LatRosTrans” Ltd

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About resolution of shareholders’ meeting of “LatRosTrans” Ltd

february 24, 2015 / News

On Friday, February 13, the shareholders’ meeting of JSC “Ventspils nafta” subsidiary “LatRosTrans” Ltd adopted a resolution to reduce the share capital of “LatRosTrans” Ltd by EUR 66 million to EUR 27’496’550.

66’000’000 shares were cancelled, which were submitted by the company’s shareholders for cancellation in proportion with their investment. After reduction of the share capital, both shareholders will own the same proportion of shares – 66% of shares is owned by JSC “Ventspils nafta” while 34% is owned by “AK Transnefteprodukt”, which is a subsidiary of the Russian company “Transneft”.

The decision to reduce the company’s share capital was made after revising the “LatRosTrans” Ltd company assets.

Reduction of the share capital will not affect the company’s operation and financial stability.

About “LatRosTrans” Ltd

 “LatRosTrans” Ltd is the only crude oil and petroleum product transport company that provides transport of diesel fuel via the main pipeline Polotsk-Ventspils. The company also owns oil pipelines – Polotsk-Mazeikiai and Polotsk-Ventspils, which have not pumped oil for transit needs in the last years.

“LatRosTrans” Ltd is the largest Latvian-Russian joint venture in the Baltic States. Joint stock company “Ventspils nafta” (NASDAQ OMX RIGA: VNF1R) owns 66% of the company’s shares, while 34% of the shares are owned by the Russian partner - joint stock company “Transnefteprodukt” (subsidiary of “Transneft”).

Elīna Dobulāne, Communications Consultant

JSC “Ventspils nafta”

Telephone: +371 25959447

E-mail: elina.dobulane@vnafta.lv