DelfinGroup becomes a joint-stock company

Riga, 2021-01-19 14:27 CET -- DelfinGroup, which operates in Latvia’s financial sector, has completed the process of reorganization by changing its legal status from a limited liability company to a joint-stock company. The share capital of AS DelfinGroup is EUR 4 million and consists of 40 million shares, the value of each share being EUR 0.10.

Agris Evertovskis, a shareholder and a co-founder of AS DelfinGroup: “The reorganization of the company is very positively perceived by both the existing shareholders and the existing and potential bondholders. The governance of DelfinGroup will become even more transparent and efficient. After concluding the reorganization process, the company’s first ESG (Environmental, Social, and Corporate Governance) report will be prepared together with the 2020 audited financial statement. As of today, I am leaving the Management Board to continue working in the Supervisory Board. The current Management Board member, Didzis Ādmīdiņš, will take up my duties as the chairman of the Management Board.”

As of January 19, 2021, the new charter of AS DelfinGroup is registered. The Supervisory Board is represented by Agris Evertovskis (chair), and Anete Ozoliņa (co-chair) and Uldis Judinskis will continue to work in the Supervisory Board. The Management Board is represented by current Management Board members Didzis Ādmīdiņš (chair), Ivars Lamberts and Kristaps Bergmanis.

Also, in order to strengthen the foundations of the company’s corporate governance by forming a professional Supervisory Board, DelfinGroup has organized an international contest to select independent members of the Supervisory Board. At least a half of the Supervisory Board members will be independent professionals to be elected at the shareholders’ meeting for a period of five years. It is planned that the new Supervisory Board members will be approved at the shareholders’ meeting in the first quarter of 2021.The group’s first company, SIA Lombards24.lv, was established 12 years ago, in 2009. In 2010, the company already had a network of 50 pawnshops all over Latvia. As the company was growing and the range of its services was getting wider, the first reorganization took place in 2012, after which the company changed its name to ExpressCredit. Since 2014, the company’s bonds have been traded on Nasdaq Riga stock exchange. Investors include both individuals and institutional investors from Latvia, Lithuania, Estonia, and other countries. Given its continuing growth, in 2020 the group entered the next stage of reorganization, changing its name to DelfinGroup.

AS DelfinGroup is a licenced financial sector company founded in 2009 and representing the brands of Banknote, VIZIA and Rīgas pilsētas lombards. The company employs 270 professionals at 90 branches located in 38 Latvian cities and towns. In 2019, the group paid EUR 2.97 million in taxes. AS DelfinGroup is a member of the Latvian Chamber of Commerce and has received the Gold level status within the cooperation programme of the Latvian State Revenue Service. The core services of the group include pawnshop loans, consumer loans and senior loans, the terms of which are specially adapted for seniors. The bonds of DelfinGroup are traded on the Baltic First North bond list of Nasdaq Riga.

         Kristaps Bergmanis

         Phone: +371 29144168

         E-mail address: kristaps.bergmanis@delfingroup.lv