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Court of Appeal decides in favour of JSC Latvijas balzams

The management of JSC Latvijas balzams (hereinafter also referred to as the Company) informs that the appellate court has reviewed the non-pecuniary claim filed by individuals in October 2018.

The claimants complained about the disregard of the procedural rules of commercial law, the wording of the announcement about the convocation of the shareholders’ meeting, the failure to issue copies of documents, as well disputed JSC Latvijas balzams Shareholders’ Meeting (held on 14th June, 2018) decision on the approval of the annual report and profit distribution. The claimants also requested the court to order the Company to disclose information to which they were not entitled, and which to the extent legally possible, was already publicly available.

The appeal court ruled that the action was unfounded and dismissed it entirely. The management of the Company emphasizes that it complies with the requirements of corporate governance and legislation.

JSC Latvijas balzams
Chairman of the Management Board
Intars Geidāns