Increase of Share Capital in Connection with Realisation of the Staff Options Programme and Subscription Results
May 02 2024 - 1:00AM
Increase of Share Capital in Connection with Realisation of the
Staff Options Programme and Subscription Results
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 RumCommunications ManagerPhone: +372 502 0786Email:
priit.rum@lhv.ee