DelfinGroup to broaden its supervisory board as it becomes a joint-stock company

19.01.2021

mintosblog

Last September, we shared that DelfinGroup has made a decision to change its legal form from a limited liability company to a joint-stock company. 

DelfinGroup has completed the process of reorganization of its mother company by changing its legal status from a limited liability company to a joint-stock company, effective as of 19 January 2021. According to the company, the share capital of AS DelfinGroup is € 4 million and consists of 40 million shares, the value of each share being € 0.10. 

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

DelfinGroup has reported that as a part of the reorganization, the corporate governance of the company will be strengthened by expanding its supervisory board where half of the members will be independent and elected at the shareholders’ meeting for a period of 5 years. 

An international search will be organized to select 3 independent members of the supervisory board with experience in the field of corporate governance, ESG, finance, banking, fintech, e-commerce, cybersecurity, artificial intelligence, machine learning, as well as other areas of financial and new technology management. 

The main tasks of the new supervisory board will be to supervise the strategic management of the group, including:

• election and supervision of board members,
• approval of the group’s strategy and supervision of its implementation,
• supervision of risk management,
• implementation of the best corporate governance principles,
• ensuring the interests of all shareholders.

More information to be found on the lending company’s website

About DelfinGroup

DelfinGroup is a licensed consumer lending company founded in 2009. The Group is represented by the Banknote, VIZIA, and Riga City Pawnshop brands. The Group’s core services are consumer loans, distance loans, pawnbroking loans. SIA DelfinGroup’s vision is to always strive for the highest recognition. The company’s management values are simplicity, accessibility, respect, progress, ambition, mastery, and focus on the clients.

SIA DelfinGroup has issued bonds that have been listed on the Nasdaq Riga stock exchange since 2014 and the company has been present on the Mintos marketplace since 2017. The company’s investors include both individuals and institutional investors from Latvia, Lithuania, Estonia, and other countries.

The current outstanding DelfinGroup’s portfolio on Mintos is € 16 035 531. There are 78 423 investors with active investments in Delfingroup loans with an average investment of € 204 per investor.

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