OREANDA-NEWS. JSC “Latvian Shipping Company” (hereafter – Company) has sold its stake in SIA “Futbola klubs “Ventspils”” (hereafter – Soccer club). Company owned 23% stake in the Soccer club with the total nominal value of the shares 184 500 LVL (262 520 EUR). All the shares, using pre-emption rights are bought by 3 existing shareholders of Soccer club. The value of the deal is symbolic, considering negative equity of the Soccer club. This sale continues the policy of disposing of non-core assets of the Company.

About JSC “Latvian Shipping Company”

JSC “Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia. The average age of the LK fleet is 7 years. All of the vessels have received ISM (International Safety Management) certificates.