Published: 2021-04-26 15:46:06 CEST
Attīstības finanšu institūcija Altum
Decisions of general meeting

AS Attīstības finanšu institūcija Altum regular shareholder meeting decisions

Inside information, 2021-04-26 15:46 CEST -- The regular shareholder meeting of AS Attīstības finanšu institūcija Altum (hereinafter – the Company), the parent company of AS Attīstības finanšu institūcija Altum Group (hereinafter – the Group), was held on 26 April 2021 from 13.00 to 14.00.

The regular shareholder meeting made decisions on (i) approval of the Group’s annual report for the year ended on 31 December 2020, (ii) approval of the Company’s annual report for the year ended on 31 December 2020, (iii) approval of the Company’s profit of EUR 5 539 249.13 for the year 2020 and capitalizing it in full as the Company’s reserve capital, as well as (iv) reducing:

  • the special surplus funds to the loans for financing the current assets in the amount of EUR 2 667 707.77;
  • the special surplus funds for the individual guarantees in the amount of EUR 3 082 851.72;
  • the special surplus funds for the portfolio guarantees in the amount of EUR 101 339.87;
  • the special surplus funds for the portfolio guarantees of student loans in the amount of EUR 392 009.06;
  • the special surplus for ensuring the operation of AIF “Altum kapitāla fonds” in the amount of EUR 185 469.24;

for the total amount of EUR 6 429 377.66, redirecting the entire amount to the general surplus funds and covering the provisions made in 2020 as well as the costs of ensuring the operation of the limited partnership AIF “Altum kapitāla fonds” included in the profit results 2020 from it.

AS 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. 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 67774023, +371 26165699
         E-mail: Laura.Lapkovska@altum.lv