JSC Development Finance Institution Altum - Decisions Passed by Extraordinary Shareholders' MeetingInside information, 2024-12-03 17:59 CET --
The extraordinary shareholders’ meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) was held on December 2, 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) operational plan and the budget for year 2025 of JSC Attīstības finanšu institūcija Altum, (ii) operational plan for year 2025 of the Internal Audit Division of JSC Attīstības finanšu institūcija Altum, (iii) the issue of transferable debt securities (bonds), (iv) the increase the special reserve capital for the housing guarantee support programme for members of the National Armed Forces, (v) the increase of the reserve capital and transfer of funding to the special reserve capital for the housing guarantee support programme, (vi) the decrease of the special reserve capital for support programme for mitigating the consequences of the Russian Federation's military aggression against Ukraine.
The extraordinary shareholders’meeting decided:
1. to approve the operational plan and the budget for year 2025 of JSC Attīstības finanšu institūcija Altum
2. to approve the operational plan for year 2025 of the Internal Audit Division of JSC Attīstības finanšu institūcija Altum
3. on an issue of transferable debt securities (bonds) in the form of issuance programme, quoting them on the Nasdaq Baltic Regulated Corporate Bonds List for a total nominal value of up to EUR 120,000,000;
4. to increase the special reserve capital for the housing guarantee support programme for members of the National Armed Forces
5.to increase of the reserve capital and transfer of funding to the special reserve capital for the housing guarantee support programme
6.to decrease of the special reserve capital for support programme for mitigating the consequences of the Russian Federation's military aggression against Ukraine
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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