Employees of Invalda INVL, one of the Baltic region’s leading asset management groups, and of companies in which it owns more than half of shares, will continue to get equity incentives.
At the meeting of Invalda INVL shareholders held today, rules for granting equity incentives in the company were approved, as was a plan, in light of 2017 results, for signing options contracts with employees of Invalda INVL group companies granting them the right to acquire up to 60 000 Invalda INVL shares in 2021 at a price of EUR 1. Decisions on the number of shares to be allocated to specific employees will be made by the board of Invalda INVL.
“We view this incentive programme as a way to give members of the team favourable opportunities to become shareholders of the company and get some of the value that’s created by common efforts. Success in the asset management business is inseparable from employees’ professionalism and motivation to pursue the best long-term results, so incentives like this help to maximally align the interests of clients, employees and shareholders,” said Darius Šulnis, the president of Invalda INVL.
Also at the shareholders meeting, Invalda INVL was authorised to acquire its own shares. The minimum share buy-back price was set at EUR 1 with the maximum set equal to the consolidated equity per share. The company may buy back its own shares during 18 months from the date of the decision. Moreover, based on the decision, Invalda INVL will be able to use acquired own shares for employee options.
“We conduct purchases of our own shares every year, giving investors the freedom to choose – whether to sell whatever number of shares they wish, or to keep the whole investment they have,” Darius Šulnis said.
Also today, Invalda INVL’s 2017 operating results were approved and the company’s board was re-elected for the coming four years. The current board members Alvydas Banys, Indrė Mišeikytė and Darius Šulnis were re-elected.
Invalda INVLhad equity of EUR 63.996 million at the end of 2017, or 21.5% more than at the end of 2016. Equity per share increased 21.6% in the year to EUR 5.53. The Invalda INVL group had an audited net profit of EUR 11.307 million in 2017, which is 2.4 times the amount in 2016.
Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic countries. Companies the group owns in Lithuania and Latvia manage more than 20 mutual and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity, private debt and other financial instruments. The group’s companies have more than EUR 600 million of assets under management, entrusted to them by over 190 000 clients in Lithuania and Latvia as well as international investors. The shares of Invalda INVL have traded on the Nasdaq Baltic securities exchange since 1995.