AS LHV Varahaldus share capital reduction
On 23 September 2016, AS LHV Group decided to reduce the share capital of its subsidiary company, Aktsiaselts LHV Varahaldus, from 12 million euros to 9.3 million euros, i.e. by 2.7 million euros.
The share capital is reduced by cancelling of shares. The number of cancelled shares is 2.7 million. The share capital reduction results in capital reduction payments to the sole shareholder (AS LHV Group) in the amount of 2.7 million euros within the time period set by the law.
The reason for reducing the share capital lies with managing the capital more efficiently on the level of the consolidation group. AS LHV Varahaldus is not required to keep the share capital in the present size. The legal requirements are fulfilled as well with the reduced share capital.
The Management Board of the Financial Supervision Authority decided on 12 September 2016 to give permission to AS LHV Varahaldus to reduce its share capital by 2.7 million euros. The list of shareholders entitled to receive the payments arising from the reduction of the share capital has been fixed as at 23 September 2016.
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