News

20
05.2019

Chairman of the Board Ted Alvenius leaves his post as board member and chairman of Latvian Forest Company AB with immediate effect.

Chairman of the Board Ted Alvenius leaves his post as board member and chairman of Latvian Forest Company AB with immediate effect.


LFC informs that Chairman of the Board, Ted Alvenius, is of a different opinion than the remaining Board of Directors regarding a transaction involving compensation for value increase in connection with the sale of all shares in the operating subsidiaries.


The Board of Latvian Forest Company AB considers that claims for compensation in connection with the increase in value of the sale of shares, in operating subsidiaries owned by LFC, are not applicable. This has previously been clarified in the company's annual report for 2017. The company's board has hired legal advisors to address the requirements and clarify its basis. It is too early to estimate the possible costs that this may entail for the company in addition to legal expenses, which, however, will be clarified as soon as the Board receives better documentation for the requirements presented. The claim directed at the company amounts to EUR 0.468.
Due to the situation, Ted Alvenius wishes to leave his post as board member and chairman of Latvian Forest Company AB and make it available with immediate effect.
 
For further information, please contact
Aleksandrs Tralmaks, CEO
+37129203972
aleksandrs.tralmaks@latvianforest.se
Or visit our website: www.latvianforest.se
This information is such information that Latvian Forest Company AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on May 20, 2019.

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