Invitation to LHV Group's Annual General Meeting
Greetings from the Management Board of AS LHV Group (hereinafter LHV Group), as we extend a warm invitation to the upcoming general meeting of shareholders (the General Meeting). This significant event is set to take place at the Hilton Tallinn Park Hotel, where shareholders can assemble and engage in crucial discussions.
Details of the General Meeting
The General Meeting is scheduled for 26 March 2025, commencing at 13:00 (Estonian time). To ensure that all interested shareholders can participate, it's essential to understand the registration process and the pertinent deadlines.
Shareholder Registration
Shareholders entitled to partake in the General Meeting will be identified based on records as of 19 March 2025 at the end of the day in the Nasdaq CSD settlement system. Registration for the meeting itself will occur on 26 March 2025, from 12:00 to 12:45, at the meeting venue. Late registrations may not be honored, so timely arrival is vital.
Agenda Overview
The Supervisory Board has outlined an engaging agenda for the General Meeting, consisting of items that promise to be beneficial to shareholders and allowing for valuable discourse. Each item will include background proposals from the Management Board and the Supervisory Board, advocating approval of all items on the agenda.
Key Agenda Items
1. **Annual Report for 2024** - Approval of the financial report detailing LHV Group’s performance for the past fiscal year is on the table.
2. **Profit Distribution for 2024** - A discussion on the consolidated net profit, which totaled EUR 152,405 thousand, will include a proposal to allocate 9 euro cents per share in dividends. This will be contingent on a review of shareholder records, leading to an ex-dividend date of 8 April 2025.
3. **Financial Overview of Early 2025** - A report covering the financial outcomes for the initial two months of the current year will provide insights into the company’s trajectory.
4. **Five-Year Financial Forecast** - Anticipated financial goals will be highlighted, giving shareholders a glimpse into LHV Group's strategic outlook.
5. **Amendments to Share Option Programs** - Revising the existing share option program from 2020–2024 to enhance stakeholder engagement, alongside introducing a new program effective from 2025 to 2029, ensuring alignment between management performance and shareholder interests.
6. **Performance Pay Conditions** - A proposal to increase performance pay caps for management up to 200% of base salaries, aimed at incentivizing performance aligned with shareholder expectations.
7. **Buyback of Own Shares** - The plan to repurchase shares will be discussed, enhancing value for shareholders by fulfilling share option programs over the next five years. Specific conditions will guide this process, ensuring compliance with applicable regulations.
Voting and Participation Details
Shareholders unable to attend the meeting in person can still have their voice heard through pre-voting, which will be available from 19 March until 24 March 2025 at 17:00. Electronic voting and pre-voting can be facilitated through the dedicated meeting website, ensuring broad participation.
Access and Shareholder Rights
During the General Meeting, shareholders will have the right to request information and propose additional agenda items. Questions regarding the agenda can be directed to LHV Group via email, ensuring all inquiries are acknowledged before the assembly. A recording of the live stream of the meeting will be accessible for remote observers, further promoting transparency.
Documentation and Resources
Up to the day of the meeting, all relevant documents, including agendas and previous reports, will be available for examination on the investor website. It's crucial for shareholders to familiarize themselves with these materials ahead of discussions to engage effectively during the meeting.
Conclusion
LHV Group is dedicated to fostering a transparent and participatory environment for all shareholders. By engaging with the agenda and utilizing available resources, every shareholder can contribute to LHV Group’s future trajectory.
Frequently Asked Questions
What is the date and time of the General Meeting?
The General Meeting will be held on 26 March 2025 at 13:00 Estonian time.
How can I participate in the General Meeting if I can’t attend?
Shareholders can participate by pre-voting until 24 March 2025, and also access the live stream of the meeting.
Where can I find the agendas and reports for review?
All relevant documents will be available on the investor website leading up to the General Meeting.
What are the proposed dividends for the financial year 2024?
The proposal includes a dividend payment of 9 euro cents per share.
Can I suggest additional items for the agenda?
Yes, shareholders can request additional items to be included in the agenda before the meeting.
