Changes in the Audit Commitee of LHV Group
The Supervisory Board of AS LHV Group resolved to change the membership of the Audit Commitee due to the upcoming end of term and the preferences of the current members. The Supervisory Board elected Raivo Hein and Verner Uibo as new members of the Audit Commitee as of 31 March 2023, when the term of current members Urmas Peiker and Kristel Aarna will end, and with term of authorization until 31 March 2026. The Supervisory Board also extended the term of Tauno Tats, an existing member of the committee, until 31 March 2026.
Verner Uibo is the CFO and a member of the board of the investment company , that provides support to the next generation of founders. Until September 2022, Verner was the lead auditor of the PricewaterhouseCoopers financial audit department and for 16 years served various companies in the financial sector as well as other large companies. Verner Uibo is a member of the board of the companies TriVer Konsultatsionid OÜ and MAOLEN OÜ. Neither Verner Uibo nor persons related to him own shares in the AS LHV Group.
Raivo Hein is a member of the supervisory boards of AS LHV Group since 2010 and belongs to the supervisory board of AS LHV Pank. Also, he belongs to the supervisory board of AS Puumarket. He is the owner and the member of management board of OÜ Kakssada Kakskümmend Volti and a management board member of MTÜ Pärtli and OÜ Saarte Sillad and several other companies established for the management of personal investments. Raivo Hein and persons related to him own altogether 5 457 380 shares of AS LHV Group.
Tauno Tats is a supervisory board member of AS LHV Group since 2013. Also, he is a member of the supervisory boards of EfTEN Kinnisvarafond AS, AS Ecomet Invest and OÜ Eesti Killustik and a member of management board of Ammende Hotell OÜ, MTÜ Plate torn and Õueala OÜ. He is the management board member and one of the owners at Ambient Sound Investments OÜ as well as a management board member of companies established for the management of investments of the aforementioned companies. Tauno Tats does not own shares of AS LHV Group. Ambient Sound Investments OÜ owns 10,828,210 shares of AS LHV Group.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group’s companies employ more than 910 people. As at February, LHV’s banking services are being used by 387,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus protects a total of 155,000 clients. LHV’s UK branch offers banking infrastructure to 200 international financial services companies, via which LHV’s payment services reach clients around the world.
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