Riga Stock Exchange                                                              28.02.2005



RSE announcement on JSC “Latvijas kuģniecība” information dissemination policies



RSE Management Board, considering the ambiguous situation with the company management bodies, 

in order to provide the investors with complete information, on February 28, 2005 resolved to 

disseminate the information via the RSE information system disclosed to the Riga Stock Exchange by 

both conflicting parties, specifying the source of information. 



This decision has been passed considering the below listed circumstances related to JSC “Latvijas 

kuģniecība”: 



·	On February 11, 2005 JSC “Latvijas kuģniecība” (Company) shareholders elected a new 

Supervisory Board, which, in its turn, on February 14, 2005 elected a new Management Board. The latter 

on February 25, 2005 declared that it took over the functions of the previous Management Board. On 

February 25 Company released the news to public. 

·	Company shareholders have initiated litigation, which includes disputing the legitimacy of the 

shareholders’ meeting convened on February 11, 2005.

·	Company Register, obeying the court decision banning the registration of the changes in Supervisory 

Board and Management Board, has not made any entries.

·	The fact that the previous Management Board does not recognize the legitimacy of the new officials.

·	Mass media offers contradictory information on the present as well as future operations of the 

Company.

·	The Riga Stock Exchange possesses neither the authority nor a mandate to involve itself in “Latvijas 

kuģniecība” shareholders’ disputes. The legitimacy of the decisions taken by the company management bodies is 

exclusively the competency of the respective public institutions. 





To alert the investors on the ambiguous situation, on February 11, 2005 “Latvijas kuģniecība” is under 

surveillance.  



For more information, please contact:

Krista Grīntāle

Corporate Communications Director

Riga Stock Exchange

Phone: +371 7212431