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LSC: Comments by the Latvian Shipping Company:

Spekuliantai.lt | 2009-07-31 | NASDAQ OMX biržų naujienos | perskaitė: 1723
Raktiniai žodžiai: Latvijas kugnieciba, LSC
LSC: Comments by the Latvian Shipping Company:

Latvijas kugnieciba Company Announcement 31.07.2009

Comments by the Latvian Shipping Company:

JSC Latvijas kuģniecība (Latvian Shipping Company - LASCO) is closely following
the information published by the newspapers the “Biznes & Baltija” (29.08.09)
and the “Dienas bizness” (31.08.09), which informed about alleged interest
expressed by the State Security Police about the initiative of a
Greek-registered legal entity “Atholl Greece Ltd.”, a LASCO shareholder, which
questions the merits of some of LSC business transactions and attempts to
damage the company reputation. It is unfortunate that until today, July 31st,
2009, Atholl Greece Ltd has not deemed it necessary to contact the company and
discuss the matters of interest in a constructive manner but has rather elected
to make absolutely false assumptions and allegations thereby misleading the
LASCO investors and the public at large.

It needs to be noted, that the LASCO is not aware of any information, which
would support the claims made by the media about any alleged law enforcement
interest in the matter.

Taking into account, that the initiatives carried out by “Atholl Greece Ltd.”
need to be seen in close context with the successful efforts of LASCO
management to uncover the ship charter fraud schemes, which, over a number of
years, allowed a group of persons to defraud the company of some 30 - 40 USD
million, LASCO would welcome any law enforcement interest about “Atholl Greece
Ltd.”, the origins of this legal entity, its true intentions and
representatives.



For more detailed information:
Marita Ozoliņa-Tumanovska
Manager of PR & Advertising Department
Telephone +371-67020120, 29287169
[email protected]

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