Invalda INVL, one of the Baltic region’s leading asset management groups, will continue to give employees of group companies the chance to acquire the company’s shares as an incentive. That decision was taken at the annual general meeting of Invalda INVL shareholders held today, 30 April. The possibility of the company buying back its own shares was also approved at the meeting.
“Allowing group company employees to acquire stock options aims at Invalda INVL and the team having common interests and lets employees benefit from growth in the value of Invalda INVL’s shares. Conducting share buy-backs, meanwhile, lets each shareholder decide based on their own needs about their investments in the group, to maintain them or turn a desired part into cash,” said Darius Šulnis, the president of Invalda INVL. The resolutions of the shareholders meeting will be implemented once the company’s board approves specific terms and conditions.
As decided at the general meeting of shareholders, in 2019 employees of Invalda INVL and of companies in which Invalda INVL owns more than 50% of shares will be able, in light of 2018 results, to enter options contracts giving them the right to acquire in 2022, in the manner and on the terms specific in the contracts, up to 80 000 Invalda INVL shares with a nominal value of EUR 0.29, paying a price per share of EUR 1.
Invalda INVL has been offering group employees the chance to acquire stock options since 2016. Thus, for the exercise of options granted to group employees at that time, it was decided to increase the share capital of Invalda INVL to EUR 3.46 million. For that purpose, 52 906 ordinary registered shares with a nominal value of EUR 0.29 will be issued, with an issue price of EUR 1 per share.
Based on the decision adopted on buying back own shares, the maximum value of shares that are acquired may not exceed one-tenth of the share capital, and the company can make use of this possibility for 18 months from the date of the decision. The maximum price for the purchase of 1 share is the consolidated equity per share, calculated on the basis of the last consolidated equity figure published by Invalda INVL prior to the decision taken by the board. The minimum purchase price per share is EUR 1.
The company’s audited 2018 results were also approved at the general meeting of shareholders. Invalda INVL’s equity at the end of 2018 was EUR 65.5 million, or EUR 5.67 per share (respectively 2.36% and 2.5% more than at the end of 2017). Invalda INVL earned a profit in 2018 of EUR 0.34 million, or 97% less than in 2017.
Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic countries. The 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 assets under management of more than EUR 675 million, entrusted to them by more than 200 000 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.