Customer service +371 67 723 511

Resolutions of the Shareholders' Meeting of Latvenergo AS

24.11.2017.

Today, on the 24 November, the Shareholders' Meeting of Latvenergo AS was held and the following resolutions were adopted:

- to reduce the capital of Latvenergo AS by EUR 454,412,749.00.

After the capital release the share capital of Latvenergo AS will constitute EUR 834,302,243.00. In accordance to the Section 264 of the Commercial Law of the Republic of Latvia, in case of capital release Latvenergo AS shall provide security to those creditors who have submitted a written application within one month after the date of publication of the notice on the capital release in the newspaper Latvijas Vēstnesis [Official Journal];

During the last few years the financial performance of Latvenergo Group has improved significantly. According to researches carried out by independent  international third-parties, the capital structure ratios of Latvenergo Group are better than those of many benchmark companies and they will remain like that even after capital release. In accordance with Moody’s comment, published in the beginning of September, from Moody’s perspective, Latvenergo will be able to maintain adequate financial flexibility and key financial metrics in accordance with the guidance for the current rating Baa2 with stable future outlook. 

 

- to approve the amendments in the General Terms and Conditions of the Notes set forth in the Base Prospectus of the programme for the issuance of Notes of 22 November 2012 (see Annex 1 on 1 page) and the General Terms and Conditions in a new wording (see Annex 2 on 10 pages), to approve the amendments in the General Terms and Conditions of the Notes set forth in the Base Prospectus of the programme for the issuance of Notes of 25 May 2015 (see Annex 3 on 1 page) and the the General Terms and Conditions in a new wording (see Annex 4 on 10 pages).

Amendments in the above mentioned Base Prospectuses of the programmes for the issuance of Notes entered into force at the moment of their approval by the Shareholders'  Meeting of Latvenergo AS.

© Copying or reproduction of the content of Latvenergo AS website for commercial purposes is prohibited. A reference to the source is required when quoting.