Attīstības finanšu institūcija Altum
Decisions of general meeting

JSC Development Finance Institution Altum - Decisions Passed by Extraordinary Shareholder Meeting

Inside information, 2024-07-01 12:51 CEST -- The extraordinary shareholder meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) was held on June 28, 2024, in the premises of ALTUM at Dome Square 4, Riga. Meeting was organized by using remote connection options.

The extraordinary shareholders' meeting discussed issues on (i) the increase of the reserve capital and transfer of funding to reserve capital for the financing of study and student guarantee programme, (ii) the planned investment in the growth stage venture capital fund FlyCap AIFP SIA, (iii) the performance indicators for 2023 of venture capital funds co-financed by Altum, (iv) the regulations on the lease of the Latvian Land Fund’s real estate, (v) convening an extraordinary meeting of shareholders.

The following decisions were made in the extraordinary shareholder meeting:

1. to increase the reserve capital and transfer of funding to reserve capital for the financing of study and student guarantee programme

2. to approve investment in the growth stage venture capital fund FlyCap AIFP SIA

3. to accept the performance indicators for 2023 of venture capital funds co-financed by Altum

4. to accept the regulations on the lease of the Latvian Land Fund’s real estate

5. to convene an extraordinary shareholders' meeting on July 5, 2024 at 12.00 for the issue on the Audit Committee.

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 As of 2 February 2024, the Altum’s stand-alone assessment set at current baa3 replaces the withdrawn Baseline Credit Assessment.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