Minutes of annual general meeting
Resolutions of the Annual General Meeting of AS LHV Group
The annual general meeting of shareholders of AS LHV Group, held today in Hilton Tallinn Park Hotel „Las Vegas“ hall (Fr. R. Kreutzwaldi St 23), approved the Annual Report, decided the dividend payment for 2018, appointed an auditor for a new period and established remuneration of the members of the Supervisory Board.
A total of 148 shareholders participated and were represented at the meeting, with their corresponding shares representing a total of 19,378,728 votes. This means 74.49% of the votes determined by shares were represented at the meeting.
The notice on calling the annual general meeting was published in the stock exchange information system and on LHV website on 19 February 2019. On the same date, the notice was printed in the Postimees daily newspaper.
The annual general meeting of the shareholders of AS LHV Group resolved:
1. Approval of the Annual Report 2018
The general meeting unanimously resolved to approve the Annual Report 2018 of the Group, as presented to the general meeting.
2. Profit allocation for 2018
The profit attributable to the Group as the parent company of the consolidation group in the financial year 2018 amounts to EUR 25,237 thousand.
The general meeting decided to transfer EUR 1,262 thousand to the legal reserve. To approve the profit allocation proposal made by the Management Board and pay dividends in the net amount of 21 euro cents per share.
The list of shareholders entitled to receive dividends will be established as at 27 March 2019 COB of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 26 March 2019. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2018. Dividends shall be disbursed to the shareholders on 28 March 2019.
3. Overview of the economic results for the first two months of 2019
The management provided the shareholders with an overview on the economic results for the first two months of 2019, that have been disclosed:
4. Overview of the business environment and the five-year financial forecast
The management gave an overview on the business environment and the Group's five-year financial forecast.
5. Appointment of the auditor for the financial years 2020-2022
The general meeting unanimously resolved to appoint KPMG Baltics OÜ (registry code 10096082) as the auditor for the financial years 2020-2022, to establish the procedure for remuneration of the auditor in accordance with the contract to be entered into with the auditor and to authorize the Management Board to conclude the relevant contract.
6. Remuneration of the members of the Supervisory Board
The general meeting unanimously established a remuneration for the members of the Supervisory Board in the amount of 1,500 EUR per each meeting of the Supervisory Board where the member participates.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 390 people, and more than 166,000 customers use LHV’s banking services. Pension funds managed by LHV have more than 177,000 active clients.
Phone: +372 502 0786