The Supervisory Board of AS LHV Group decided to increase the share capital of
the Company by EUR 435,619. The increase of the share capital was triggered by
the need to issue new shares to staff members participating in the share options
programme approved with the resolution of the general meeting on 13 March 2020.
A total of 138 current and former employees of LHV participated in the issue of
AS LHV Group shares, subscribing a total of 4,356,190 shares for a total of EUR
4,020,763.37. The share issue was 100% subscribed.
Decisions of the Supervisory Board of LHV Group:
* LHV Group's share capital will be increased by EUR 435,619, i.e., from EUR
31,983,274.30 to EUR 32,418,893.30.
* Within the framework of the increase of the share capital, LHV Group will
issue 4,356,190 new ordinary shares with a nominal value of EUR 0.1 per
share. The shares will be issued with a share premium. The issue price is
EUR 0.923 per share, with the nominal value of the share amounting to EUR
0.1 and the share premium to EUR 0.823.
* Pursuant to the resolution of the general meeting of 13 March 2020, which
approved the LHV Group's share options programme and its basic conditions,
the management and equivalent staff as well as key employees of the
companies incorporated within the LHV consolidation group, as determined by
the Company's Supervisory Board and with whom the Company has concluded the
relevant option agreements (option beneficiaries), shall have the pre-
emptive right to subscribe the Company's new shares.
* LHV Group's shareholders, who are not intended to benefit from share options
programme, shall not have any pre-emptive right to subscribe LHV Group's
shares within the framework of the increase of the share capital.
* The increase of the share capital and payment for the new shares will be
carried out fully by way of monetary contribution. The due date for
exercising the pre-emptive right of subscription and the due date for
subscribing shares was 30 April 2024 at 5.00 pm.
* All of the option beneficiaries submitted their subscription notes in a
timely manner and made payments for the subscribed shares.
* The increase of the share capital will not trigger any specification of the
LHV Group's ordinary shares, and will not grant any special rights. The new
shares to be issued will grant the right to receive dividends starting with
the 2024 financial year.
* The emission of new LHV Group shares was subscribed to in full and there is
no need to cancel unsubscribed shares. The increase of the share capital in
the amount subscribed to by the option beneficiairies will be registeres in
the Estonian Central Register of Securities (Nasdaq CSD) and in the
Commercial Register.
All new shares issued by LHV Group within the framework of the issue of shares
will be listed on the Nasdaq Tallinn Stock Exchange on the day following the day
on which the Estonian Central Register of Securities (Nasdaq CSD) will rank pari
passu the additionally issued shares with temporary ISIN-code with all the
existing shares with the main ISIN-code.
LHV Group is the largest domestic financial group and capital provider in
Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV
Kindlustus, and LHV Bank Limited. LHV employs more than 1,090 people. As at the
end of March, LHV's banking services are being used by 428,000 clients, the
pension funds managed by LHV have 120,000 active clients, and LHV Kindlustus
protects a total of 164,000 clients. LHV Bank, a subsidiary of LHV Group, holds
a banking licence in the UK and provides banking services to international
financial technology companies, as well as loans to small and medium-sized
enterprises.
Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee (mailto:priit.rum@lhv.ee)
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