LHV Group Bolsters Capital Through Recent Share Acquisitions
LHV Group's Strategic Share Acquisitions
LHV Group has taken significant steps to strengthen its capital base by acquiring its own shares on the Nasdaq Tallinn Stock Exchange during a recent trading period. This move, occurring from August 29 to September 4, demonstrates LHV's commitment to enhancing shareholder value.
Details of the Share Acquisitions
During the specified period, LHV Group completed multiple transactions of share buybacks, totaling significant volumes each day. Here’s a brief summary of these transactions:
Daily Acquisition Summary
The company's buyback actions included:
- August 29: 3,200 shares at an average price of 3.53 EUR
- September 1: 3,200 shares at the same average price
- September 2: A larger purchase of 12,688 shares at an average price slightly above 3.53 EUR
- September 3: 12,400 shares acquired
- September 4: Closing the week with another purchase of 12,000 shares
Background of the Acquisition
LHV Group's decision to repurchase shares stems from resolutions passed during its general meeting. Such buybacks are not only a strategic move but also a signal of confidence from management to investors regarding the company's future prospects.
Authorized Transactions
The authorized agent managing these transactions is AS LHV Pank, ensuring that all acquisitions are handled transparently and in compliance with market regulations. Cumulative data from these acquisitions will be disclosed to regulators and made available to investors shortly thereafter.
Significance of LHV Group in the Financial Sector
As the largest domestic financial group in Estonia, LHV Group plays a crucial role in the region's economic landscape. With key subsidiaries including LHV Pank, LHV Varahaldus, and LHV Kindlustus, the firm employs over 1,100 professionals. As of late July, the bank serves approximately 476,000 valued customers, while its pension funds manage investments for around 109,000 active participants.
Expansion and Development
Moreover, LHV Bank Limited, a subsidiary of LHV Group, operates under a banking license in the UK. It offers essential banking services tailored for the needs of international financial technology firms and supports numerous small to medium-sized enterprises with necessary financing.
Contact Information for Investors
If you wish to learn more about LHV Group's activities or have inquiries, you can reach the Head of Investor Relations:
Sten Hans Jakobsoo
Email: stenhans.jakobsoo@lhv.ee
For communication inquiries, please contact:
Paul Pihlak
Email: paul.pihlak@lhv.ee
Frequently Asked Questions
What is LHV Group?
LHV Group is the largest financial group in Estonia, providing banking, investments, and insurance services.
What recent actions has LHV Group taken?
LHV Group has recently undertaken share buybacks to strengthen its capital and enhance shareholder value.
How does LHV Group support its customers?
LHV Group offers a wide range of financial services including banking, pension fund management, and insurance products.
Where can I find more information about LHV Group?
For more information, visit LHV Group's official website and their investor relations section.
Who can I contact for investor relations at LHV Group?
For investor-related inquiries, you can contact Sten Hans Jakobsoo, Head of Investor Relations.
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