Changes in share capital and votes
Increase of Share Capital in Connection with Realisation of the Staff Options Programme and the Results of the Subscription
The Supervisory Board of AS LHV Group decided today to increase the share capital of the Company by EUR 365,013. The increase of the share capital was triggered by the need to issue new shares to staff members participating in the options programme approved with the resolution of the general meeting on 29 April 2015. A total of 69 former and current employees of LHV participated in the issue of AS LHV Group shares, subscribing a total of 365,013 shares for a total of EUR 1,697,310.45. The share issue was thus subscribed 100% by the option beneficiaries.
Decisions of the Supervisory Board of AS LHV Group (hereinafter the Company):
- The Company's share capital will be increased by a maximum of EUR 365,013, i.e. from EUR 28,454,079 to EUR 28,819,092.
- Within the framework of the increase of the share capital, the Company will issue 237,594 new ordinary shares with a nominal value of EUR 1 per share. The increase of the share capital and payment for the new shares will be carried out fully by way of monetary contribution. The shares will be issued with a share premium. The issue price is EUR 4.65 per share, with the nominal value of the share amounting to EUR 1 and the share premium to EUR 3.65.
- The increase of the share capital will not trigger any specification of the Company's ordinary shares, and will not grant any special rights. The shares to be issued within the framework of the increase of the share capital will grant the right to receive dividends from the date of registration of the increase of the share capital in the commercial register.
- Pursuant to the resolution of the general meeting of 29 April 2015, which approved the Company's share options programme and its basic conditions, the CEOs and executive employees of the companies incorporated within the Company, as determined by the Company's Supervisory Board and with whom the Company has concluded the relevant option agreements (option beneficiaries), shall have the pre-emptive right to subscribe the Company's new shares.
- The Company's shareholders, who are not intended to benefit from share options programme approved with the resolution of the Company's general meeting of 29 April 2015, shall not have any pre-emptive right to subscribe the Company's shares within the framework of the increase of the share capital.
- The due date for exercising the pre-emptive right of subscription and the due date for subscribing shares was 8 April 2020. All of the option beneficiaries submitted their subscription notes in a timely manner and made payments for the subscribed shares.
With the share issue subscribed 100%, there is no need to cancel unsubscribed shares.
All new shares issued by AS LHV Group within the framework of the issue of shares will be listed on the Nasdaq Tallinn Stock Exchange on the day after the day when LHV has notified Nasdaq Tallinn about the registration of increase of share capital in commercial register.
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 450 people, and 212,000 customers use LHV’s banking services. Pension funds managed by LHV have 177,000 active clients.
Phone: +372 502 0786