Published: 2021-07-05 16:22:50 CEST
Attīstības finanšu institūcija Altum
Decisions of general meeting

Decision of extraordinary shareholders’ meeting of JSC Attīstības finanšu institūcija Altum

Inside information, 2021-07-05 16:22 CEST -- Extraordinary shareholders’ meeting of the joint stock company Attīstības finanšu institūcija Altum (hereinafter – the Company), parent company of the JSC Attīstības finanšu institūcija Altum Group (hereinafter – the Group), was held on July 5, 2021.

The extraordinary shareholders’ meeting made decisions on: (i) the reserve capital of Company (ii) increasing the reserve capital and transferring funds to the reserve capital for financing of crisis support programmes for entrepreneurs in the cultural sector  (iii) Regarding the inclusion of JSC Attīstības finanšu institūcija Altum into the respective group of capital companies (iv) the Assessment of the performance of the Head of Internal Audit Division in 2020. 

The shareholders’ meeting passed the following decisions:

  1. to increase the Company’s reserve capital and transfer 10 million to the reserve capital for funding of the Working capital loans for economic operators whose activity has been affected by the spread of Covid-19 programme;

to increase the Company’s reserve capital and transfer EUR 2 million to the reserve capital for funding of the Provisions on guarantees of improving the competitiveness of economic operators programme;

 to earmark the EUR 2.5 million transferred to the reserve capital for implementation of the Guarantees for economic operators whose activity has been affected by the spread of Covid-19 programme to financing the programme Provisions on guarantees of improving the competitiveness of economic operators;

  1. to increase the Company’s reserve capital and transfer EUR 815 488 to the reserve capital for funding of the crisis support programme for entrepreneurs in the cultural sector;
  2. on the Group’s inclusion into the respective group of capital companies;
  3. on the Assessment of the performance of the Head of Internal Audit Division in 2020.

 

JSC Attīstības finanšu institūcija 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 25 March 2019 Moody’s Investors Service (Moody’s) affirmed Altum’s Baa1 long-term credit rating with outlook stable. The baseline credit assessment (BCA) was upgraded to investment grade rating baa3. The Moody’s rating assigned to 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 – in the Baltic Debt Securities List of Nasdaq Riga.

         Laura Lapkovska
         JSC Attīstības finanšu institūcija Altum, Investors Relations Department
         Phone: 67774023, 26165699
         E-mail: Laura.Lapkovska@altum.lv