Financial Services, Latvia, Transport

International Internet Magazine. Baltic States news & analytics Monday, 05.05.2025, 07:17

Latvian Shipping Company reduced the share capital to EUR 60 mln

Alla Petrova, BC, Riga, 26.08.2014.Print version
JSC Latvijas kugnieciba informs that in accordance to the decision of annual general meeting that took place on June 11, 2014 to reduce the share capital of JSC Latvian Shipping Company by EUR 220 million to EUR 60 million, informed BC communications consultant at JSC Latvian Shipping Company Elīna Dobulāne.

The nominal value of a bearer share reduced from EUR 1.4 to EUR 0.3, the respective amendments to the Articles of association are registered within Commercial registry on August 21, 2014.

 

The calculation date for reduction of the share capital is set on September 1 of this year.


The share capital is reduced with an aim for shareholders of JSC Latvian Shipping Company to be able to decide about distribution of the possible profit in dividends, if the circumstances and the commitments would allow that.

 

In the medium-sized and handy tankers categories JSC „Latvian Shipping Company (NASDAQ OMX RIGA: LSC1R) is among the leading ship owners in the world, and in terms of transport volumes of petroleum products it is also in a leading position among similar companies in Northern Europe. It owns 16 modern ships, employing more than 700 professional and highly qualified seamen from Latvia. The average age of the fleet is 6.5 years. All ships have received ISM (International Safety Management) certificates.





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