The extraordinary shareholder meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) was held on August 29, 2025, 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
1. On the planned investment of ALTUM in the Baltic Capital Market Acceleration Fund;
2. On amendments to the Internal Audit Division’s 2025 annual action plan;
3. On approval of the transaction with related party of ALTUM;
4. On support for the agricultural sector;
5. On classification of ALTUM;
6. On the temporary appointment of the Chairperson of the Supervisory Board;
7. On permission to the Chairperson of the Supervisory Board to combine corporate positions;
8. On convening an extraordinary shareholders' meeting.
The following decisions were made in the extraordinary shareholder meeting:
1. Agree on ALTUM making an investment in the Baltic Capital Market Acceleration Fund of up to 20 million euros;
2. Approve amendments to the Internal Audit Division`s 2025 annual action plan;
3. Agree to approve the financing to related party of ALTUM;
4. Take note of the information provided and the prepared proposals for support to farmers;
5. Classify ALTUM as a "large capital company";
6. Appoint Ieva Jansone-Buka as the temporary Chairperson of the ALTUM Supervisory Board as of September 1, 2025;
7. Take note of the information provided by the Ministry of Finance regarding the permission to combine corporate positions for ALTUM Supervisory Board Chairperson Ieva Jansone-Buka;
8. Convene an extraordinary shareholders' meeting on September 1, 2025, at 8:30 am.
JSC Attīstības finanšu institūcija Altum (JSC Development Finance Institution Altum) is a Latvian 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 28 January 2025 Moody’s Ratings affirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The rating as well as the short-term issuer rating at P-2, the same as affirmed on 2 February 2024. ALTUM is rated by Moody’s Finance Companies Methodology, published in July 2024. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.