NLB: Results of the 40th General Meeting

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, 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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