AS LHV Group to terminate the activities of subsidiary OÜ Cuber Technology and initiate liquidation proceedings
AS LHV Group decided to terminate the activities of OÜ Cuber Technology and begin liquidation proceedings for the company.
OÜ Cuber Technology is not a significant subsidiary of the Group, and its termination will not affect the Group’s obligations or operating results. OÜ Cuber Technology’s main area of activity has been programming and software development, as well as the development of information systems in the financial technology sector. The company is economically inactive and there are no changes compared to the numerical indicators presented in the approved annual report for 2020. OÜ Cuber Technology has no known creditors.
The liquidator of OÜ Cuber Technology is Member of the Management Board Daniel Haab. The purpose of terminating the company is to liquidate and delete a Group company from the commercial register, which is no longer economically active. The dissolution of the company is not considered a significant transaction or a transaction with a related person within the meaning of stock exchange regulations, and the members of the Group’s management board do not have a personal interest in the transaction.
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. LHV employs over 570 people. LHV’s banking services are used by 279,000 clients, the pension funds managed by LHV have 175,000 active clients, and LHV Kindlustus protects a total of 128,000 clients. LHV’s UK branch offers banking infrastructure to 150 international financial services companies, via which LHV’s payment services reach clients around the world.
LHV Head of Communications
Phone: 502 0786