OREANDA-NEWS. Draft resolutions of annual shareholders’ meeting of joint stock company “Latvijas kugnieciba” to be held on April 27, 2015

1.    Approval of annual reports for 2014

1)    To take notice of the report of the Supervisory Council of joint stock company “Latvijas kugnieciba”, report of the Audit Committee and the Corporate Governance Report for 2014.

2) To approve the annual report of joint stock company “Latvijas kugnieciba” for 2014 (in appendix No. ___).

3) To approve the consolidated annual report of joint stock company “Latvijas kugnieciba” for 2014 (in appendix No. ___).

2.    Use of profit of 2014

To use the 2014 profit of joint stock company “Latvijas kugnieciba” (parent company) in the amount of 1 611 473 EUR (one million six hundred eleven thousand four hundred seventy three euro) to cover losses of previous years.

3.    Election of auditor for audit of annual reports for 2015

1)    To elect auditing firm “PricewaterhouseCoopers” Ltd (commercial enterprise license No. 5) as the auditor of joint stock company “Latvijas kugnieciba” for audit of the annual reports for 2015.

2)    To assign the Management Board of joint stock company “Latvijas kugnieciba” to conclude an agreement with “PricewaterhouseCoopers” Ltd on audit of the annual reports of joint stock company “Latvijas kugnieciba” for 2015, by fixing the remuneration up to EUR 90 000 (ninety thousand euro), excluding value added tax.

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.