Decisions of extraordinary shareholders’ meeting of JSC Attīstības finanšu institūcija Altum
Inside information, 2021-03-22 15:21 CET --
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 March 22, 2021.
During the extraordinary shareholders’ meeting, the following issues were on the agenda: (i) on the supervisory board member, (ii) on composition of the Audit Committee, based on the changes in the Supervisory Board, (iii) on increase of reserve capital and transfer of funds to the reserve capital, (iv) on JSC Attīstības finanšu institūcija Altum Internal Audit Division’s annual report on 2020.
The shareholders’ meeting decided:
1. as of March 22, 2021, to elect Ilze Baltābola as a Supervisory Board Member of JSC Attīstības finanšu institūcija Altum for the time until a new candidate is selected in line with the procedures of nominating supervisory board members, according to Section 31 of the Law on Governance of Capital Shares of a Public Person and Capital Companies,
2. to postpone revision of the issue on the Audit Committee until the Supervisory Board’s decision is received,
3. on reserve capital:
3.1. for financing study and student loan guarantee programme;
3.2. for financing crisis loan programme;
3.3. for financing housing guarantee support programme;
4. to take note of the Internal Audit Division’s annual report on 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) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to investment grade rating baa3, which is an investment level rating. 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 Attīstības finanšu institūcija Altum, Investors Relations Department
Phone: 67774023, 26165699