SIA ExpressCredit increases share capital to 1,5 m

Riga, 2016-12-30 15:27 CET (GLOBE NEWSWIRE) -- On 29 December, 2016 SIA ExpressCredit shareholders meeting approved decision to increase share capital from 426 861 EUR to 1 500 000 mio EUR. Share capital was increased transferring previous year's undistributed profits and making payment for shares in the amount of 200 000 EUR, keeping the same share proportion among current shareholders.

Agris Evertovskis, Chairman of the Board of the Company, comments on share capital increase: "Share capital increase justifies the shareholder will to strengthen share capital base and finance further growth of the Company".

On 30 December, 2016 Enterprise register of the Republic of Latvia has registered changes in the charter and share capital of SIA ExpressCredit. Share capital increase has been registered in the changes in the charter of SIA ExpressCredit. New charter includes point on possibility of extraordinary dividends according to legislation of the Republic of Latvia. Additionally there are registered surname change for the council member Ramona Miglāne (previously Ramona Tiltiņa).

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SIA ExpressCredit is a licenced non-banking consumer crediting company established in 2009. SIA ExpressCredit operates under the brands “Banknote” (up to 23.11.2015 - “Lombards24.lv”) and “Rīgas pilsētas lombards” in 39 biggest Latvian cities and populated areas through 90 branches offering pawnshop loans, consumer loans and money transfers in cooperation with "Western Union". More than 330 thousand natural persons have used the company’s services by in Latvia. SIA ExpressCredit employs 275 professional employees. SIA ExpressCredit has paid 2.6 million euro in taxes in 2015.

         Contact person:          Kristaps Bergmanis          Phone: +371 29144168          E-mail address: Kristaps.Bergmanis@banknote.lv