bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 23.03.2017 | Name days: Mirdza, Žanete, Žanna
LatviaLatvia

Latvijas Gāze shareholders support creation of a new company

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOn Friday, 2 September, shareholders of Latvijas Gāze supported the company’s reorganization, formation of a new company hand entrusting it with transmission and storage system assets, as confirmed by LG.

The decision received support from 99.98% of shareholders.

During the meeting, shareholders also interviewed the management of LG. Many minority shareholders used this opportunity.

Questions that were asked to the management of LG were mostly related to the division of the company, separation of assets, compensation amounts for shareholders that do not wish to be members of the new company and other related topics.

Some minority shareholders voiced concerns about the lack of clarity on the size of compensation for shareholders who do not want to keep their shares.

The management of LG provided answers to specific questions. However, in relation to shares, the value of the company and the compensation size, the management admitted that there are no clear answers right now.

Shareholders also decided to add amendments to LG’s statutes to allow the management board to call extraordinary meetings to make decisions on payments of dividends.

Division of LG would also include the formation of a new company – Conexus Baltic Grid. The base capital of the new company will not exceed EUR 39.9 million – the worth of a single share will be EUR 1.

In accordance with the Commercial Law, shares of the new company will be provided to LG shareholders who voted in favour of reorganization and submitted a written request to become shareholders in the new company. Approximately 75% of shareholders (5,000) have already submitted written requests to become shareholders in the new company.

In accordance with the government’s decision, shares of Conexus Baltic Grid will be provided to the Latvian state, which owns 117 shares in LG.

The precise size of the new company’s base capital will be determined by the management board of LG once a full list of shareholders has been compiled.

On 10 February, the Seaima approved amendments to the Energy Law to facilitate the liberalization of the gas market in Latvia and the division of LG. Included norms state that LG has the duty to form two companies by 3 April 2017 – one company will perform the management of the transmission and storage system and the other will perform the functions of the natural gas operator and trader.

By the end of December 2017, the operator of the unified gas transmission and storage system needs to have become legally independent from gas traders.

At the moment, there is only one company working in Latvia’s gas market – Latvijas Gāze. This company provides procurement, storage, transmission and trade of natural gas in Latvia. LG’s largest shareholders include Russian Gazprom, European Investment Bank’s Marguerite Fund, Germany’s Uniper Ruhrgas International GmbH and Itera Latvija.

Ref: 102.109.109.6791


Leave a reply

Saeima agrees to publish names of disciplinary punished judges

Publication of information about disciplinary penalties applied to judges, their names and surnames will no longer be prohibited, as stated by amendments to the Judicial Disciplinary Liability Law supported by the Saeima in the first reading on Thursday, 23 March.

Experts: internet users open up 30% of fraudulent e-mail letters

Cyber criminals are becoming more and more cunning and their fraudulent e-mails – harder and harder to differentiate from real ones. Internet users open up to 30% of fraudulent e-mail letters, explains eScan antivirus developers.

Minister: Latvia supports International Coalition’s fight against Daesh

«The fight of the International Coalition against Daesh has become a very effective instrument to help reduce Daesh military, financial and recruitment capabilities,» said Latvian Foreign Affairs Minister Edgars Rinkevics.

New pulp factory planned in Estonia

Estonian entrepreneurs have envisaged building a high-tech pulp-making plant near the city of Tartu and have submitted the plan for confirmation from Estonian national special planning authorities.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Russian singer barred from going to Eurovision in Kyiv

Ukrainian authorities have banned Russian Eurovision representative from entering Ukraine, where the pop song contest Eurovision is to be held in May.

Travel passports planned to be introduced in Latvia

Deputies have submitted amendments to the Personal Identification Documents Law, suggesting the adoption of travel passports to avoid situations when people are denied the right to travel freely or participate in elections.

Tragic attack in London

In a tragic attack on civilians and police in London, five people have been killed and no less than 40 injured.

Farmers urge voting in favour of preserving land in the hands of local residents

A letter with a request to support farmers, countryside residents and amendments to the Law on Land Privatisation in Rural Areas has been sent to members of the Saeima.

Officials support Finance Ministry’s proposals for medium-term tax strategy

At the 22 March meeting of the National Economy Council, members of the parliament decided to conceptually support Finance Ministry’s proposals for medium-term tax strategy.

Ameriks received nearly 200,000 euros from fast loan companies in interest pay

Vice-Mayor of Riga Andris Ameriks received income of nearly 200,000 euros in interest pay from fast loan companies 4finance and Mogo last year, according to the declaration for 2016 submitted to the State Revenue Service.

Estonia to reduce availability of plastic bags in shops

Having passed amendments to the Estonian «Packaging Law», the Riigikogu has adopted a plan to reduce the use of plastic bags in the Baltic country over the coming years.

Latvian businesses in Japan to be provided with stable tax payment regime

Latvia businesses working in Japan will be provided with a stable tax payment regime that will not be influenced by amendments to Japan’s tax regulations, as stated in Saeima’s report.

Multiple parties to gather in a single candidate list to compete with Lembergs

Latvian Association of Regions, National Alliance, For Latvia’s Development and Unity will start at municipal elections in Ventspils under a single candidate list, said the leader of this unified list Girts Valdis Kristovskis in an interview to Latvijas Avīze.

Reirs: ministry’s offered tax reform will change nothing for most pensioners

Finance Ministry’s offered tax reform will add only slight changes. Most pensioners will not feel any changes from this reform – neither good, nor bad, said Welfare Minister Janis Reirs in an interview to Rīta panorama.

Canadian ambassador: Latvia and Canada are closer than ever before thanks to CETA

«All Latvian exporting companies – those that already export goods to Canada and those that consider doing that – will benefit from the Comprehensive Economic and Trade Agreement,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalnina-Lukasevica.

Expert: cargo transports through Iran offer a major step for international logistics market

Over the course of nine months, since Latvian logistics company Pro Logistic Services opened an office in Iran, the volume of cargoes and the number of serviced clients has grown by 15%.

Eastern Hospital’s Gynaecology Clinic to be provided with 500,000 euros to reduce queues

Riga Eastern Clinical University Hospital’s Gynaecology Clinic will be provided with funding of EUR 513,622 from the state budget to help reduce queues.

In pictures: Victims of Brussels’ terror attacks remembered in first anniversary

Remembering those killed and injured in last year’s terror attacks, remembrance events are held on Wednesday, March 22, in the Belgian capital.

Fourteen asylum seekers relocated from Greece to Latvia

As part of the European asylum-seeker resettlement programme, fourteen people in need of international protection were relocated from Greece to Latvia, as confirmed by a representative of Office of Citizenship and Migration Affairs.

Fiat Chrysler investigated over alleged breaking of emissions tests

French investigators have opened a probe into possible emissions tests breaking by the Italian-American car builder Fiat Chrysler Automobiles in relation to its diesel cars.

National Alliance does not support increased ticket prices in Riga shuttle buses

On Tuesday, 21 March, Riga City Council’s faction of the National Alliance voted against Transport Department’s proposal to set one ticket price for Rīgas mikroautobusu satiksme shuttle bus services – EUR 1.15.

Visitors will be allowed to take photos of documents stored in National Archive

To simplify the use of documents stored in Latvia’s National Archive, visitors will be allowed to take photos of documents for research and personal purposes, announces Culture Ministry.

Rimi Baltic commences construction of a major logistics centre in Riga

Rimi Baltic has commenced construction of a retail trade industry project in Riga. This project will attract investments of EUR 75 million and make Latvia a Baltic logistical hub, as BNN was informed by the project’s representatives.