OREANDA-NEWS. November 23, 2011. The Supervisory Council of the holding company JSC Ventspils nafta (VN) was re-elected in the extraordinary shareholders’ meeting of JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R) that was convened on November 22 on request of one shareholder – JSC “Latvijas naftas tranzits” (LNT).

The Supervisory Council was dismissed and a Supervisory Council in new composition was elected in the extraordinary shareholders’ meeting, in which 92.82% of the shares with voting rights were represented. Eleven members are elected to the Supervisory Council of JSC Ventspils nafta – Javed Ahmed, Mikhail Dvorak, Vladimir Egger, Rubil Yilmaz, Mark Ware, Christophe Theophanis Matsacos, David Guy Anstis, Rudolf Meroni, Janis Haze, David Alexander Schlaff and Aivars Gobinsh.

Out of 11 members of the company’s Supervisory Council who were dismissed, Mihhail Dementjev and Hardija Vaivade were not repeatedly elected to the company’s Supervisory Council. They were previously nominated for election to the Supervisory Council by LNT.

David Alexander Schlaff and Aivars Gobiņš were elected anew to the VN Supervisory Council – they were nominated by the JSC Ventspils nafta shareholder LNT.

David Alexander Schlaff is the Chief Investment Officer of the company M-Tel, previously he was a member of Management Board at LH Financial. Schlaff has been elected to the VN Supervisory Council earlier as well.

Aivars Gobiņš is in the management of the association “Baltijas asociacija – transports un logistika” and is the Deputy Chairman of the Supervisory Council of JSC Ventbunkers and JSC Latvijas naftas tranzits.

The shareholders’ meeting assigned the member of the newly-elected Supervisory Council Vladimir Egger to convene the first meeting of the newly elected Supervisory Council of joint stock company “Ventspils nafta”.

The shareholders’ meeting adopted a resolution that the new Supervisory Council will work without remuneration – in the same way as it did before.

Out of 11 of the elected members of the VN Supervisory Council 6 were nominated for election by the shareholder „Euromin Holdings (Cyprus) Limited” and 5 – by the shareholder LNT.

Management of JSC “Ventspils nafta” plans to advise investors of more detailed plans for the future development of the company in the early December, 2011.