REG - Nova Ljubljanska - NLB: Results of the 40th General Meeting

Nova Ljubljanska Banka dd LjubljanaAnnouncement

19/06/2023 15:00

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RNS Number : 1994D  Nova Ljubljanska Banka d.d.  19 June 2023

June 19, 2023

 

40th General Meeting of the Shareholders of NLB d.d.

In accordance with the provisions set out in the Rules of the Ljubljana Stock
Exchange and the relevant laws, the NLB Management Board hereby announce the
results of votes cast at the 40th General Meeting of the Shareholders of NLB
d.d.

71.64% of shares with voting rights were present at today's 40(th) General
Meeting of NLB d.d, with shareholders approving, among other things, the
decisions on the allocation of distributable profit from the previous year,
and appointing four members to the NLB Supervisory Board.

 

The shareholders decided that part of the distributable profit shall be paid
out as dividends in a total amount of EUR 55 million, which is EUR 2.75 gross
per share, on June 27, 2023. The remaining part of the distributable profit
shall remain undistributed and represents retained earnings.

 

This dividend payout is only the first one planned this year. The second
tranche is expected to be submitted for approval at the General Meeting taking
place towards the end of this year; together amounting to EUR 110 million in
2023. The anticipated payment of dividends in the amount of EUR 110 million
from the profit generated in 2022 is not included in the capital base, which
means that it will not affect NLB Group's capital ratios. With these payouts,
NLB remains firmly on the path to fulfil its ambition - a total capital return
through solid cash dividends in a cumulative amount of EUR 500 million by the
end of 2025, including 2022 pay-outs.

 

As the term of office of four members of the Supervisory Board of NLB d.d.,
namely Deputy Chairman Andreas Klingen, Shrenik Dhirajlal Davda, Gregor Rok
Kastelic, and Mark William Lane Richards expired, the General Meeting also
appointed four members, of whom two are existing and two are new. The
shareholders re-appointed Shrenik Dhirajlal Davda and Mark William Lane
Richards, and also appointed two new members, namely Cvetka Selšek, a former
CEO and Chairwoman of the Societe Generale SKB Bank (Slovenia), and Andre-Marc
Prudent-Toccanier, a seasoned banker who has held various managerial positions
in his 40-year career at Societe Generale. All four were appointed for a
four-year term of office, which shall begin on the day of their appointment or
in the case of newly appointed members after receiving all of the necessary
regulatory approvals.

 

"We would like to thank the outgoing members for their contribution to the
work of the Supervisory Board, and at the same time extend a warm welcome to
the members appointed today," said its Chairman Primož Karpe after the
General Meeting, adding: "Over the last few years, NLB's Supervisory Board has
evolved significantly to meet the challenges of the future and expectations of
shareholders. Today it is well-balanced and one of the most diverse
international supervisory boards in the region, aiming to add value by sharing
experience and expertise, as well as providing counsel and advice, seeking to
support growth with prudent risk management, developing its staff, and
delivering returns to NLB shareholders."

 

In addition to the members appointed today and its Chairman, the Supervisory
Board also consists of David Eric Simon, Verica Trstenjak, Islam Osama Zekry,
and two employee representatives Sergeja Kočar and Tadeja Žbontar Rems.

 

At the General Meeting, the shareholders also took note of various reports and
decided on payments to the members of the Supervisory Board and its
committees. All adopted resolutions, together with the voting results
(http://www.nlb.si/nlb/nlb-portal/eng/investor-relations/general-meetings/2023/izid-glasovanja-ang-junij-2023.pdf)
, are available to interested parties on the bank's website.

 

All adopted resolutions together with voting results are available to
interested parties at the bank's website.

 

Investor Relations

NLB d.d., Ljubljana

 

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