Published: 2018-04-11 13:54:30 CEST
LHV Group
Minutes of annual general meeting

Resolutions of the Annual General Meeting of AS LHV Group

The annual general meeting of shareholders of AS LHV Group, held today in Tallinn Hilton Hotel „Ballroom“ hall (Fr. R. Kreutzwaldi St 23), approved the Annual Report, decided the dividend payment for 2017 and appointed an auditor for a new period.

A total of 142 shareholders participated and were represented at the meeting, with their corresponding shares representing a total of 18,261,414 votes. This means 70,87% of the votes determined by shares were represented at the meeting.

The notice on calling the annual general meeting was published in the stock exchange information system and on LHV website on 16 March. On the same date, the notice was printed in the Postimees daily newspaper.

The annual general meeting of the shareholders of AS LHV Group resolved:

1. Approval of the Annual Report 2017
The general meeting unanimously resolved to approve the Annual Report 2017 of the Group, as presented to the general meeting.

2. Profit allocation for 2017
The profit attributable to the Group as the parent company of the consolidation group in the financial year 2017 amounted to EUR 14,500 thousand.
The general meeting decided to transfer EUR 980 thousand to the legal reserve. The general meeting unanimously resolved to approve the profit allocation proposal made by the Management Board and pay dividends in the net amount of 16 euro cents per share.

The list of shareholders entitled to receive dividends will be established as at 26 April 2018 COB of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 25 April 2018. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2017. Dividends shall be disbursed to the shareholders on 27 April 2018.

3. Overview of the economic results for the first two months of 2018
The management provided the shareholders with an overview on the economic results for the first two months of 2018, that have been disclosed:

4. Overview of the business environment
The management gave an overview on the business environment and the Group's five-year financial forecast.

5. Appointment of the auditor for the financial year 2018/2019
The general meeting unanimously resolved to appoint AS PricewaterhouseCoopers (registry code: 10142876) as the auditor for the financial year 2018/2019, and to establish the procedure for remuneration of the auditor in accordance with the contract to be entered into with the auditor.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV employs over 360 people and over 135,000 customers use LHV’s banking services. Pension funds managed by LHV have over 176,000 active customers.