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International Internet Magazine. Baltic States news & analytics Saturday, 11.07.2020, 19:48

Ventspils oil terminal to cut its share capital by EUR 65.275 mln

BC, Riga, 05.06.2020.Print version
Ventspils Nafta Terminals (VNT), a stevedore of Ventspils Nafta holding, will cut its share capital by EUR 65.275 million in order to cover the loss of the previous years, writes LETA, according to business database.

At present the company's share capital is EUR 86.755 million, and after reduction it will be EUR 21.48 million.

The share capital is reduced with an aim to cover losses from the previous years and optimize the share capital.

The company's share capital will be reduced by cutting 65.275 million company's shares. The new VNT share capital will consist of 21.48 million shares. The face value of one share will remain at EUR 1.

VNT was registered in 2003. In 2018, VNT generated EUR 57.814 million in turnover and sustained loss worth EUR 43.804 million.

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