Resolutions of Annual General Meeting of LHV Group
The Annual General Meeting of Shareholders of AS LHV Group (Group), was held on 22 March at Hilton Tallinn Park Hotel. It was possible to participate in the meeting electronically and vote remotely on the draft decisions on the agenda, including watch the meeting via video broadcast. Shareholders entitled to participate in the meeting could also vote before the meeting.
A total of 1,639 shareholders participated in the meeting, representing a total of 218,580,401 votes, which corresponds to 69,3% of all votes entitled to participate in the meeting. Of the participants 1,491 shareholders, representing a total of 100,270,377 votes, voted before the meeting according to the procedure for pre-voting and electronic participation published with the notice on calling the meeting.
The notice on calling the Annual General Meeting was published in the stock exchange information system and on the Group’s website on 28 February 2023. On the same date, the notice was printed in Eesti Päevaleht daily newspaper.
The Annual General Meeting of the Shareholders of AS LHV Group adopted the following:
- Annual Report 2022
Approve the Group's Annual Report for 2022 as presented to the General Meeting.
In favor: 205,235,410 votes (93.89% of the represented votes)
Opposed: 634,855 votes (0.29% of the represented votes)
Neutral: 1,110,816 votes (0.51% of the represented votes)
Withheld: 11,601,854 votes (5.31% of the represented votes)
- Profit Distribution for 2022
The profit attributable to the Group as the parent company of the consolidation group in the financial year 2022 amounts to EUR 58,319 thousand. Transfer EUR 0 to the legal reserve. Approve the profit distribution proposal made by the Management Board and pay dividends in the net amount of 4 euro cents per share. The list of shareholders entitled to receive dividends will be established as of 5 April 2023 COB of the Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 4 April 2023. From this day onwards, persons acquiring the shares will not have the right to receive dividends for the financial year 2022. Dividends shall be disbursed to the shareholders on 12 April 2023.
In favor: 210,449,951 votes (96.28% of the represented votes)
Opposed: 205,665 votes (0.09% of the represented votes)
Neutral: 18,474 votes (0.01% of the represented votes)
Withheld: 7,908,845 votes (3.62% of the represented votes)
- Remuneration Principles
Approve the Remuneration Principles of the Group as presented to the General Meeting.
In favor: 206,614,349 votes (94.52% of the represented votes)
Opposed: 1,436,372 votes (0.66% of the represented votes)
Neutral: 2,342,927 votes (1.07% of the represented votes)
Withheld: 8,189,287 votes (3.75% of the represented votes)
- Overview of Economic Results for First Two Months of 2023
An overview was provided by the Management Board to the shareholders on the economic results of the Group for the first two months of 2023.
- Overview of 5-Year Financial Forecast
An overview was provided by the Management Board to the shareholders on the Group's five-year financial forecast.
- Extension of Mandates of Supervisory Board Members
Extend the term of office of the members of the Group’s Supervisory Board Rain Lõhmus, Andres Viisemann, Tiina Mõis, Heldur Meerits, Raivo Hein and Tauno Tats for a period of 3 (three) years and the term of office of the member of the Supervisory Board Sten Tamkivi for a period of 1 (one) year from the expiry of their current term of office.
In favor: 208,276,082 votes (95.28% of the represented votes)
Opposed: 2,740,130 votes (1.25% of the represented votes)
Neutral: 95,762 votes (0.04% of the represented votes)
Withheld: 7,470,961 votes (3.42% of the represented votes)
All relevant documents associated with the Group’s General Meeting (including the notice on calling the General Meeting, draft resolutions, the Group's annual report for 2022, including the independent auditor's report, proposal for the profit distribution, the remuneration report, the Supervisory Board's report on its activities and assessment of the 2022 annual report and remuneration principles) have been presented in more detail on the Group’s website (https://investor.lhv.ee/en/general-meetings/#22.03.2023), where the minutes of the meeting shall also be made available at the latest 7 days after the General Meeting.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group’s companies employ more than 910 people. As at February, LHV’s banking services are being used by 387,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus protects a total of 155,000 clients. LHV’s UK branch offers banking infrastructure to 200 international financial services companies, via which LHV’s payment services reach clients around the world.
LHV Communication Manager
Phone: +372 502 0786