Latvian Shipping Company moves toward delisting

The Latvijas Kuģniecība (Latvian Shipping Company) company is moving towards removing its shares from the bourse, the company said in a market announcement December 5.

The company has called an extraordinary general meeting for December 20 with several items on the agenda including the dismissal of the current supervisory board, the appointment of a new board and, in a supplementary announcement, it also gave notice of an intention "To delist and exclude all 200 000 000 (two hundred million) bearer shares of AS “LATVIJAS KUĢNIECĪBA” from the regulated market – Baltic Official list of AS Nasdaq Riga."

The move comes at the request of shareholder Vitol which owns more than 90% of the company.

The recent financial indicators of the company are available HERE.

In response, Nasdaq Riga said it was applying "Observation status" to the company, standard practise if in the next 6 months it is planned to perform activities as a result of which the shares would be delisted.

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