The regular shareholder meeting of JSC Development Finance Institution Altum (hereinafter – the Company), the parent company of JSC Development Finance Institution Altum Group (hereinafter – the Group), was held on 29 April 2020 from 16.00 to 16.30 and on 6 May 2020 from 14.00 to 15.00 (with a break).

The regular shareholder meeting made decisions on (i) approval of the Group’s annual report for the year ended on 31 December 2019, (ii) approval of the Company’s annual report for the year ended on 31 December 2019, (iii) approval of the Company’s profit of EUR 8 130 685.25 for the year 2019 and capitalizing it in full as the Company’s reserve capital, as well (iv) took note of the Operational Report of the Company’s Internal Audit Division for year 2019, (v) approval of the new version of the Real Estate Renting Regulations of the Latvian Land Fund.

JSC Development Finance Institution 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 9 April 2020 Moody’s Investors Service (Moody’s) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable, and the baseline credit assessment (BCA) investment grade rating baa3. 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.

         Laura Lapkovska
         JSC Development Finance Institution Altum, Development Finance Institution Altum
         +371 67774023 (tel), +371 26165699 (cell)
         E-mail: Laura.Lapkovska@altum.lv