OREANDA-NEWS. August 02, 2010. Due to the fact that JSC “Latvijas Kuмniecоba” (LASCO) is planning to submit their approved audited annual reports for 2009 until the end of 2010, JSC “Ventspils nafta” (VN) is now unable to meet the deadline of July 31 for the submission of their annual reports, that they had previously set.

As VN has previously stated, if LASCO was unable to submit their approved audited annual reports for 2009 by July 31, then VN would be unable to publish annual reports for 2009 within the advised deadlines.

With LASCO now updating the date for submission of their approved audited annual reports for 2009, VN will now be able to submit their annual reports by the end of 2010, the day after receiving Auditor’s conclusion. Till that time VN management will continue work for VN annual reports for 2009 to be prepared as soon as possible.

As previously advised VN has asked the LASCO Management Board and the Supervisory Council, on a number of times, to convene the annual shareholders' meeting of LASCO for approval of the annual reports for 2009 by the end of April, 2010.