|Emitents||Attīstības finanšu institūcija Altum, AS (5493007HPQSSX8BJ4315)|
|Veids||2.2. Iekšējā informācija|
Extraordinary shareholders’ meeting of the joint stock company Attīstības finanšu institūcija Altum (hereinafter – the Company), parent company of the JSC Attīstības finanšu institūcija Altum Group (hereinafter – the Group), was held on April 1st, 2022.
The extraordinary shareholders’ meeting reviewed the following topics (i) on changes to the list of job positions in the Internal Audit Department and expenditure estimate for 2022 (ii) on the annual report of the Internal Audit Department of JSC Attīstības finanšu institūcija Altum for 2021 (iii) on reducing the reserve capital in the Large Loan Programme, Portfolio Guarantee Programme and the Large Business Guarantee Programme.
The shareholders’ meeting resolved:
1. To approve changes to the list of job positions in the Internal Audit Department and expenditure estimate for 2022;
2. To take notice of the annual report of the Internal Audit Department for 2021;
3. To reduce the reserve capital of JSC Attīstības finanšu institūcija Altum by EUR 22,565,000 in the programme that has been implemented pursuant to Regulations No. 677 of November 10, 2022 Regulations on Loans and Loan Interest Rate Subsidies to Enterprises for the Promotion of Competitiveness”; reduce the reserve capital of JSC Attīstības finanšu institūcija Altum by EUR 16,000,000 in the program implemented pursuant to Cabinet of Ministers Regulations No. 537 of September 5, 2017 Regulations on Portfolio Guarantees to Foster Lending to Micro, Small and Medium-Sized Companies; reduce the reserve capital of JSC Attīstības finanšu institūcija Altum by EUR 20,000,000 in the program implemented pursuant to Cabinet of Ministers Regulations No. 454 of July 14, 2020, Regulations on Guarantees for Large Undertakings Affected by the COVID-19 Outbreak”.
Additional information on the approved decision:
The reduction of the reserve capital of Altum in the Large Enterprises Loan Program (EUR 22,565 thousand), the Portfolio Guarantee Program (EUR 16,000 thousand) and the Guarantee Program for Large Enterprises (EUR 20,000 thousand) was carried out pursuant to points 2.1, 2.2 and 2.3 of paragraph 13 of the Cabinet of Ministers Protocol Decision No.51 on reallocation of this funding for the financing of the new Loan Program with Capital Rebate for Investment Projects (EUR 58,565 thousand) by reducing the Special Reserve Capital in aforementioned programmes and accordingly reallocating this funding to Altum’s support programmes, classifying it as liabilities for the financing of the Loan Program with Capital Rebate for Investment Projects maintaining the same nature of funding – financing for the new support program and for the coverage of expected losses.
JSC Attīstības finanšu institūcija Altum is a Latvia 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 25 March 2019 Moody’s Investors Service (Moody’s) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to investment grade rating baa3, which is an investment level rating. 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. Altum was the winner of Stock Exchange Event of the Year award in Nasdaq Baltic Awards 2019.