On election of members of Supervisory BoardInside information, 2024-04-30 15:10 CEST --
The shareholder meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) has approved Ansis Grasmanis and Krišjānis Znotiņš as members of ALTUM’s Supervisory Board. The new members of the Supervisory Board will start fulfilling their job duties on 1 May 2024 and the term of office of each new member is three years. At the same time, the shareholders' meeting recalled the previous members of the Supervisory Board Ilze Baltābola and Jānis Šnore, who performed the duties of the members temporarily - until the moment when ALTUM elects candidates to the position of members of the Supervisory Board in accordance with the nomination procedure established in Article 31 of the Law on Management of Capital Companies.
Ansis Grasmanis and Krišjānis Znotiņš have been selected for the position in accordance with laws and regulations, by organizing an open tendering procedure (competition) and following good corporate governance practices.
The open competition for the position of Members of ALTUM’s Supervisory Board was organized and the candidates were selected and assessed in three rounds by a nomination commission, set up in accordance with the Order of the State Chancellery as of 18 September 2023.
Ansis Grasmanis has more than 20 years of experience in the management and corporate governance and more than 10 years of experience in risk management and internal control, working in top management positions in financial sector companies (SEB bank, Swedbank), as well as being the Chairman of the Board of Directors of Banka per Biznes (Kosovo) as the EBRD’s nominated member of the Board of Directors, a member of the Supervisory Board at the First Ukrainian International Bank (Ukraine), Banku Augstskola and SJSC State Real Estate. Ansis Grasmanis has obtained a master's degree in mathematics from the University of Latvia. Ansis Grasmanis has FCT (Association of Corporate Treasurers) and FCCA (Chartered Association of Certified accountants) qualifications confirming his international professional competence in the financial management.
Krišjānis Znotiņš has more than 15 years of experience in the management and corporate governance, working in executive positions in financial sector companies (DNB leasing, Luminor bank, Eleving Group Latvia, Wandoo finance). Krišjānis Znotiņš has a bachelor's degree from the Banku Augstskola and a master's degree in business management in international finance and banking from SBS Swiss Business School (Switzerland).
From 1 May 2024, the Supervisory Board of ALTUM will continue to work in the following composition – Chairman of the Supervisory Board Līga Kļaviņa, Members of the Supervisory Board Ansis Grasmanis and Krišjānis Znotiņš.
JSC Development Finance Institution Altum is a Latvian state-owned company providing enterprises and households access to 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 2 February 2024 Moody’s Investors Service (Moody’s) affirmed the Company’s Baa1 long-term issuer rating, with outlook stable, following update of rating methodology. The rating and the short-term issuer rating at P-2, same as affirmed on 16 December 2022. As of 2 February 2024, the Altum’s stand-alone assessment set at current baa3 replaces the withdrawn Baseline Credit Assessment. 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.
Laura Lapkovska
AS Attīstības finanšu institūcija Altum Investors Relationships Division
Tel.: +371 26165699
E-mail: Laura.Lapkovska@altum.lv
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