Announcements

Yesterday, the Supervisory Board of Latvenergo AS decided to start an audit regarding the information reflected in the LTV broadcast De facto, relating to officials of the Group and events of 2015 to verify whether there has been favourable attitude of Latvenergo towards individual entrepreneurs in recent years. The task of the internal audit subordinated to the Latvenergo Supervisory Board and external specialists will be to verify information about the procurements and other transactions performed by the Group. In order to ensure neutrality of the verification process, Ā.Žīgurs will go on an annual leave until October 30. During this time, the duties of the Chief Executive Officer of Latvenergo AS will be performed by the Chief Commercial Officer U.Bariss.

The TV broadcast reported on the investigation started in 2018 and completed in August this year, in which the information initially in the proceedings indicated possible illegal actions of several people, and the participation and statements of the Chairman of the Management Board of Latvenergo AS Ā. Žīgurs and former Member of the Management Board M. Kuņickis during informal conversations in 2015 were investigated. It is known from the decision by the Corruption Prevention and Combating Bureau (KNAB) that the constituent elements of a criminal offence were not established during the pre-trial investigation. The operational activities of Latvenergo are not affected in any way in connection with these events.