The extraordinary shareholder meeting of JSC Development Finance Institution Altum (hereinafter – ALTUM) was held on October 30, 2023, in the premises of the ALTUM at Dome Square 4, Riga. Meeting was organized by using remote connection options.

The extraordinary shareholders' meeting discussed issues on (i) the increase of the reserve capital and transfer of funding to the special reserve capital for the housing guarantee support programme, (ii) the transfer of funding to the special reserve capital for the creation of the Initial Public Offering Fund for the Baltic small and medium enterprises, (iii) the increase of the share capital and amendments to the Statutes and (iv) the operational results of the venture capital funds as of June 30, 2023.

The following decisions were made in the extraordinary shareholder meeting:

1. to increase the special reserve capital in the amount of EUR 1.98 million for the housing guarantee support programme,
2. to reduce the general reserve capital in the amount of 13.83 million EUR and to reallocate the said funding to the special reserve capital for the creation and implementation of the Initial Public Offering Fund for the Baltic small and medium enterprises.
3. to increase the share capital in the amount of EUR 6.17 million, providing additional funding for the implementation of existing and new support programmes. The decision on increasing of the share capital of the ALTUM will enter into force after the adoption of a corresponding decision of the Cabinet of Ministers.
4. to accept the operational results of the venture capital funds as of June 30, 2023.

JSC Development Finance Institution Altum is a Latvian state-owned company providing enterprises and households access to 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 16 December 2022 Moody’s Investors Service (Moody’s) affirmed the Company’s Baa1 long-term issuer rating, with outlook stable, same as affirmed on 25 March 2019. The baseline credit assessment (BCA) is also affirmed at Baa3, together with the short-term issuer rating at P-2. 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.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv