Riga Stock Exchange                                                            04.02.2005



“Latvijas kuģniecība” remains under surveillance



Riga Stock Exchange on February 3, 2005 received a letter from JSC “Latvijas kuģniecība” as a 

response to the RSE request to the company to disclose the nominees to Supervisory Board. 

“Latvijas kuģniecība” maintains that they do not have the information about the candidates to 

Supervisory board at their disposal. They refer to Article 296 of the Commercial Law, which 

stipulates that the general meeting of shareholders is the body which nominates and elects 

Supervisory Board members. The Company will inform the shareholders on the RSE requirement and 

will request to provide the names of the Supervisory Board member candidates. “Latvijas kuģniecība” 

will disclose the information to the RSE as soon as it has been made available by the shareholders.



The information on the nominees to Supervisory Board is material issuer’s information, to be 

disclosed to the RSE according to the listing and disclosure rules.



Considering the above, and the failure on behalf of “Latvijas kuģniecība” to disclose the nominees 

to Supervisory Board, to be elected by the EGM of February 11, 2005, which is a breach of the RSE 

listing and disclosure rules, RSE Management Board on its meeting of February 4, 2005 resolved:

1.	To issue a warning to “Latvijas kuģniecība”;

2.	To retain the surveillance status, assigned by the RSE Management Board Resolution of February 

2, 2005.



For more information, please contact:

Krista Grīntāle

Corporate Communications Director

Riga Stock Exchange

Phone: +371 7212431