LHV Extends Authorities of AS LHV Varahaldus Manag

The Supervisory Board of AS LHV Varahaldus decided today to extend authorities of all members of the Management Board of AS LHV Varahaldus. The authorities are extended by 5 years, so the new mandate expiration date will be 9 October 2022. The members of the Management Board are Mihkel Oja and Joel Kukemelk.

Mihkel Oja is a member and the chairman of the Management Board of LHV Varahaldus since 2007. Additionally he is the chairman of the Management Board of Estonian Association of Fund Managers and a member of Management Board of Korteriühistu Narva mnt. 70 and Grotta Azzurra OÜ. Mihkel Oja holds 42,312 shares of AS LHV Group. He has the opportunity to acquire 54,271 shares of AS LHV Group for options issued in 2015, 2016 and 2017.

Joel Kukemelk is a fund manager since 2010 and a member of the Management Board of LHV Varahaldus since 2014. Since 2016 he is a member of the Supervisory Board of the Guarantee Fund. Joel Kukemelk holds 18,099 shares of AS LHV Group. He has the opportunity to acquire 21,370 shares of AS LHV Group for options issued in 2015, 2016 and 2017.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV employs about 350 people and over 125,000 customers use LHV’s banking services. Pension funds managed by LHV have over 177,000 customers.

         Priit Rum          Communication Manager          Phone: +372 502 0786          Email: priit.rum@lhv.ee