The Supervisory Board of AS LHV Group decided today to increase the share
capital of the Company by EUR 299,781. The increase of the share capital was
triggered by the need to issue new shares to staff members participating in the
options programme approved with the resolution of the general meeting on 29
April 2015. A total of 72 current and former employees of LHV participated in
the issue of AS LHV Group shares, subscribing a total of 299,781 shares for a
total of EUR 1,597,832.73. The share issue was thus subscribed 100% by the
option beneficiaries.
Decisions of the Supervisory Board of AS LHV Group (hereinafter the Company):
* The Company's share capital will be increased by a maximum of EUR 299,781,
i.e. from EUR 28,819,092 to EUR 29,118,873.
* Within the framework of the increase of the share capital, the Company will
issue 299,781 new ordinary shares with a nominal value of EUR 1 per share.
The increase of the share capital and payment for the new shares will be
carried out fully by way of monetary contribution. The shares will be issued
with a share premium. The issue price is EUR 5.33 per share, with the
nominal value of the share amounting to EUR 1 and the share premium to EUR
4.33.
* The increase of the share capital will not trigger any specification of the
Company's ordinary shares, and will not grant any special rights. The shares
to be issued within the framework of the increase of the share capital will
grant the right to receive dividends from the date of registration of the
increase of the share capital in the commercial register.
* Pursuant to the resolution of the general meeting of 29 April 2015, which
approved the Company's share options programme and its basic conditions, the
CEOs and executive employees of the companies incorporated within the
Company, 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.
* The Company's shareholders, who are not intended to benefit from share
options programme approved with the resolution of the Company's general
meeting of 29 April 2015, shall not have any pre-emptive right to subscribe
the Company's shares within the framework of the increase of the share
capital.
* The due date for exercising the pre-emptive right of subscription and the
due date for subscribing shares was 12 April 2021. All of the option
beneficiaries submitted their subscription notes in a timely manner and made
payments for the subscribed shares.
With the share issue subscribed 100%, there is no need to cancel unsubscribed
shares.
All new shares issued by AS LHV Group within the framework of the issue of
shares will be listed on the Nasdaq Tallinn Stock Exchange on the day after the
day when LHV has notified Nasdaq Tallinn about the registration of increase of
share capital in commercial register.
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 540 people. LHV's banking services are used by
269,000 clients, and pension funds managed by LHV have 179,000 active clients.
LHV's UK branch offers banking infrastructure to 140 international financial
services companies, via which LHV's payment services reach clients around the
world.
Priit Rum
Communication Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee (https://www.globenewswire.com/Tracker?data=bjx6Iwb2W-
6r2r0xT6FitJwRqP9M-rGFbshAKcCXgPf2uv3R5-PFsj9XSpyGeVVgWy6jjaAqPvnUGiLnuzuCtA==)
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