ABLV Bank performed issue of employee shares

Riga, Latvia, November 5, 2015, 15:20 / Investments

On 30 October 2015, extraordinary meeting of shareholders of ABLV Bank made the decision on increasing the bank’s share capital by issuing new employee shares, likewise in the previous year.

The decision on issue of 265 000 employee shares was made. Following the increase of ABLV Bank share capital, it will amount to EUR 35.3 million and will be comprised of 31 770 000 ordinary shares and 3 530 000 employee shares.

Continuing the motivation programme initiated in 2012, the employee shares will be used to increase the long-term loyalty of the bank’s key officers and their interest in efficient company management. Under the programme, the shares can be allocated to senior managers free of charge. The employee shares provide the right to receive dividends, but no voting rights are attached to those. The list of officers and the number of shares allocated to them are approved by the bank’s Council.

ABLV Bank, AS, is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86.25% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, and Limassol.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296
ilmars.jargans@ablv.com