Attīstības finanšu institūcija Altum
Decisions of general meeting
JSC Development Finance Institution Altum – Decisions Passed by Extraordinary Shareholder Meeting
Inside information, 2020-11-06 14:27 CET --
The extraordinary shareholder meeting of JSC Development Finance Institution Altum (hereinafter – the Company), the parent company of JSC Development Finance Institution Altum Group (hereinafter – the Group), was held on November 3, 2020 from 16:00 to 16:15 and on November 6, 2020 from 8:00 to 8:40 (with a break).
At the extraordinary shareholders’ meeting, decisions were made on (i) the increase of the reserve capital and transfer of funds to the reserve capital to finance the crisis guarantee program, (ii) the auditor for the financial statements of JSC Development Finance Institution Altum for the years 2020, 2021 and 2022, (iii) for the election of the members of the Audit Committee to a new term.
The shareholder meeting passed the following decisions:
1. to increase the reserve capital of the Company and transfer EUR 20,000,000 to the reserve capital of JSC Development Finance Institution Altum to finance the crisis guarantee program;
2. to elect Deloitte Audits Latvia, a limited liability company (Reg.No. 40003606960), as the auditor of the financial statements of JSC Development Finance Institution Altumfor the years 2020, 2021 and 2022;
3. to elect the Audit Committee to a three year term as from 1 December 2020. The committee will be made up of chairwoman Gunta Darkevica, and will also include committee members Kristaps Soms and Gints Trupovnieks.
JSC Development Finance Institution Altum is a Latvia state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 9 April 2020 Moody’s Investors Service (Moody’s) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable, and the baseline credit assessment (BCA) investment grade rating baa3. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga. Altum was the winner of Stock Exchange Event of the Year award in Nasdaq Baltic Awards 2019.
JSC Development Finance Institution Altum,
Investors Relationships Division
+371 67774023 (tel), +371 26165699 (cell)