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 38th General Meeting of the Shareholders of NLB d.d.
Shareholders of NLB d.d. gathered today at the 38th General Meeting of NLB d.d. with 64,31% shares with voting rights present. They adopted all resolutions proposed by the Management and Supervisory Board of NLB d.d.
At the General Meeting shareholders acknowledged the adopted NLB Group 2021 Annual Report, the Report of the Supervisory Board of NLB d.d. on the results of the examination of the NLB Group Annual Report 2021, the Report on renumerations for the business year 2021 and the Additional information to the Report on remuneration for the business year 2021 on the basis of SSH's Baselines. The shareholders also decided on the allocation of distributable profit for 2021 and granting a discharge from liability to the Management Board of NLB d.d. and Supervisory Board of NLB d.d.
The distributable profit of NLB d.d. for 2021 amounts to EUR 458,266,602.05 and consists of net profit for 2021 in the amount of EUR 208,421,094.37, the transfer of valuation gains upon the derecognition of
equity financial instruments measured at fair value through other comprehensive income in the amount of EUR 53,288.25 and retained earnings from previous financial years in the amount of EUR 249,792,219.43.
Shareholders decided that the part of the distributable profit in total amount of EUR 50 million shall be paid out to the shareholders as dividend, which amounts to EUR 2.50 gross per share. Dividends shall be paid on 28 June 2022 to the persons who are registered as the Shareholders of NLB d.d. with the Central Securities Clearing Corporation on the day that is 5 working days after the day of the General Meeting that adopted this resolution (27 June 2022, Cut-Off Day).
"We must emphasize that this is only the first dividend payout planned for this year," explained NLB's CEO Blaž Brodnjak and added: "In our 2022 outlook we have announced EUR 100 million cumulative payment - and we remain committed to this announcement, as well as to justifying the expectations of our shareholders by creating added value for them. However, as we recognize various benefits to split the dividend payment into two tranches, we have decided that the first tranche in the amount of abovementioned EUR 50 million was subject of this General Meeting, while the second tranche is intended to be proposed to the General Meeting towards the end of this year. Furthermore, NLB strives to payout EUR 500 million of dividends by 2025."
The envisaged EUR 100 million dividend payment from the profit generated in 2021 is not included in the capital base, meaning that the payment will not affect the NLB Group capital ratios. The remaining part of the distributable profit of NLB d.d. shall remain undistributed and become part of the profit brought forward.
The General Meeting of NLB d.d. also took note on various reports and voted on the proposal regarding the amendments and supplements to the Articles of Association of NLB d.d., appointed the auditing company KPMG Slovenija, d.o.o. as the auditor of NLB d.d. for the financial years 2023-2026 and adopted the Policy on the provision of diversity of the management body and senior management. For more details see the resolutions published by the Bank together with the results of voting at the 38th General Meeting of NLB d.d. at the bank's and Ljubljana Stock Exchange website.
All adopted resolutions together with voting results are available to interested parties at the bank's website.
This announcement will be available on the Bank's website www.nlb.si as of 20 June 2022.