July 25, 2022.
The information was prepared by Sandra Joksta.
About starting the reorganization or reduction of the share capital of the joint-stock company “Latvijas Gāze”.
To take note of the assessment made by the Board of the joint-stock company “Latvijas Gāze” (hereinafter – the Company) regarding the impossibility of fulfilling the task given at the June 27, 2022 shareholders’ meeting of the Company – the reorganization of the Company through separation and the reduction of the Company’s share capital – due to the limitations set by the National Security Law.
2. Start:
2.1. Reorganization of the Company by way of separation in accordance with the fourth part of Article 336 of the Commercial Law, as a result of which the Company would transfer part of its property – namely, 39,900,000 shares of the joint-stock company “GASO”, registration number 40203108921, which make up 100% of its share capital – to a newly established company. As a result of the reorganization, all shareholders of the Company would become shareholders of the newly established company in proportion to their participation in the Company.
or
2.2. Reduction of the Company’s share capital in accordance with Section 262, Part One, Clause 2 of the Commercial Law, as a result of which the Company’s shareholders would receive the shares of the Company’s joint-stock company “GASO”, registration number 40203108921, in proportion to the shareholders’ participation in the Company’s share capital, as payment for the transferred shares.
Riga, July 25, 2022
On behalf of the joint-stock company “Latvijas Gāze”,
Chairman of the Board
Aigars Kalvītis
About AS “Latvijas Gāze”
Latvijas Gāze is one of the leaders of the energy industry in the Baltic region.
Our goal is to strengthen the leadership position of Latvijas Gāze Group in the Latvian and Baltic energy market, becoming the first choice of customers among natural gas suppliers and ensuring the most stable natural gas supply for the entire region.
Wholesale and sale of natural gas to business customers is carried out in Latvia, Lithuania and Estonia. After the opening of the Finnish gas market on January 1, 2020, Latvijas Gāze has successfully started trading natural gas in Finland as well. In the household segment, Latvijas Gāze is the largest and most important natural gas trader in Latvia.
After regaining Latvia’s independence in 1991, the joint state company “Latvijas Gāze” was established by combining the existing gas infrastructure and institutions on the territory of Latvia. In 1997, the privatization of the company was started, concluding it in 2002. Since February 15, 1999, AS “Latvijas Gāze” shares have been listed on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the creation of the natural gas market, as well as the expiry of the privatization agreement concluded between the state and the shareholders of Latvijas Gáza, the unified transmission and storage company AS “Conexus Baltic Grid” was separated from Latvijas Gáza at the beginning of 2017, but on 1 January 2017 In December, the distribution system operator JSC Gaso was separated.
Additional information:
Sandra Joksta
tel. + 371 67 374 369
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