JSC “Latvian Shipping Company” has sold House of Press

| Source: Latvijas kugnieciba

JSC “Latvian Shipping Company” (LSC) subsidiary SIA "LASCO Investment" has sold Preses nams to SIA "PN Project" managed by “Lords LB Asset Management”, a Lithuanian real estate development company. The deal value is 16.8 million EUR.

“As a socially responsible company we are delighted that Preses nams has been acquired by a company with significant real estate experience and we very much look forward to witness the redevelopment of the site over the coming 5-10 years,” explains the LSC Chairman of the Management Board Robert Kirkup.

About JSC “Latvian Shipping Company”

JSC “Latvian Shipping Company” (Nasdaq Riga: LSC1R) is vessel owner in the segment of medium and handy size tankers. The company owns 16 modern vessels employing more than 1300 professional and high-skilled seamen from Latvia. Besides, LSC subsidiary “LSC Ship management” Ltd is technically serving 9 more vessels, thus managing a fleet of 25 vessels. The average age of the LSC fleet is 9 years. All of the vessels have received ISM (International Safety Management) certificates.

About UAB "Lords LB Asset Management"

“Lords LB Asset Management” is an investment management company licensed by the Bank of Lithuania that has been providing services to institutional and private investors since 2008. In total, Lords LB Asset Management manages 13 funds, including eight real estate funds, three private equity funds, and two energy and infrastructure funds. Total value of the assets under management of the fund amounted to EUR 310 million at the end of December 2016.

         Laima Zēmele, Communications Consultant
         JSC “Latvian Shipping Company”
         Telephone: +371-26486958
         E-mail: LZemele@golin.com