Published: 2021-08-10 16:51:28 CEST
DelfinGroup
Decisions of general meeting

Shareholders of the AS DelfinGroup have decided to set up the Risk and Audit Committee and appoint BDO ASSURANCE as the sworn auditor

On 9 August 2021, the shareholder meeting of AS DelfinGroup endorsed the decision to set up the Risk and Audit Committee. Independent members of the Supervisory Board of AS DelfinGroup: Edgars Voļskis, Gatis Kokins and Jānis Pizičs were elected to serve on the Committee for a period of three years.

Edgars Voļskis, Supervisory Board Member and Chairman of the Risks and Audit Committee of AS DelfinGroup: "The decision to establish the Risk and Audit Committee was an important step in improving the corporate governance of AS DelfinGroup. It will reinforce the trust of shareholders and investors in achieving and fulfilling the strategic objectives of AS DelfinGroup. In cooperation with other Committee members, I have the honour of chairing the Risk and Audit Committee and rely on my professional experience to ensure operational and strategic monitoring of the financial performance of AS DelfinGroup, and to regularly monitor and assess the efficiency of the AS DelfinGroup internal control environment.”

The Risk and Audit Committee will operate independently and will report on its activities and performance to the shareholders and the Supervisory Board of AS DelfinGroup. After an assessment of the required competencies and professional experience, the members of the Risk and Audit Committee were elected at the shareholders’ meeting. All members of the Risk and Audit Committee are professionals who are not involved in the daily operations of the company.

The Risk and Audit Committee will monitor financial reporting processes, control the budget and compliance (legal, consumer protection, AML, GDPR), and deal with risk management and internal control, cooperate with the independent (external) auditor and monitor the efficiency of internal audit and whistleblowing procedures.

In addition to the decision to set up the Risk and Audit Committee and appoint its members, the shareholders’ meeting elected sworn auditors BDO ASSURANCE as the external auditor for the 2021 DelfinGroup financial accounts and consolidated financial accounts.

 In March 2021, AS DelfinGroup announced its plans for the launch of an initial public offering (IPO) of its shares on the Nasdaq Riga exchange during the second half of 2021. LHV Bank and law firm Eversheds Sutherland Bitāns are acting as DelfinGroup planned IPO advisors. For more information about the planned IPO, sign up to news on our homepage: https://www.delfingroup.lv/invest.

 About DelfinGroup 

AS DelfinGroup is a licensed financial services company founded in 2009 and represents the brands Banknote, VIZIA, and Rīgas pilsētas lombards (Riga City Pawnshop). The company employs 277 professionals in 93 branches operating in 38 Latvian cities. AS DelfinGroup is a member of the Latvian Chamber of Commerce and Industry and the Latvian Association of Alternative Financial Services and has received the Gold Level status of the State Revenue Service cooperation programme. AS DelfinGroup core services are the retail sale of pre-owned goods in branches and online, pawn loans, consumer loans, and loans specifically designed for people at retirement age. AS DelfinGroup bonds are listed on the Nasdaq Riga First North bond list. In 2020, the company's revenue was 23.7 million euros, the loan portfolio reached 34.7 million euros, EBITDA increased to 9.3 million euros and profit before taxes reached 4.6 million euros. AS DelfinGroup estimated taxes for 2020 are 3.42 million euros. 

 

         Additional information:
         Kristaps Bergmanis,
         Member of the Management Board of AS DelfinGroup
         Phone: +371 29144168
         E-mail: kristaps.bergmanis@delfingroup.lv