The Board of Invalda LT, AB approved the draft resolutions of the General Shareholders Meeting to be held on August 30, 2013:
1. On the removal of Audit Committee members of Invalda LT, AB and the election of new members.
Draft resolution:
Remove the Audit Committee of Invalda LT, AB in corpore.
The Board decision on the proposed candidates of the Audit Committee of Invalda LT, AB shall be adopted and published till August 16, 2013.
2. On the acquisition of own shares of Invalda LT, AB.
Draft resolution:
Invalda LT, AB has formed the reserve for the acquisition of own shares which is equal to 92.5 million litas (26.8 million euro).
In order to implement the will of shareholders, expressed while voting for formation of reserve for own shares, and in order to provide the shareholders the opportunity to sell shares, to delegate the Board to adopt decisions, on the basis of conditions set out below, regarding acquisition of shares of Invalda LT, AB through the market of the official offer of NASDAQ OMX Vilnius in accordance with procedures laid down in the legal acts regulating this market.
The maximum number of shares to be acquired – the nominal value of own shares may not exceed 1/10 of share capital.
The period during which the company may acquire its own shares – 12 months from the day of this resolution.
The maximum one share acquisition price – 3.50 euro (12.08 litas), minimum one share acquisition price – 2.50 euro (8.63 litas).
The acquired own shares may be annulled by the decision of the General Shareholders Meeting or sold by the decision of the Board on condition the minimum price of sale of own shares shall be equal to the price at which they were acquired and the procedure of selling the shares shall ensure equal opportunities for all shareholders to acquire the said shares.
The Board of Invalda LT, AB is delegated on the basis of this resolution and the Law on companies of the Republic of Lithuania to organize purchase and sale of the own shares, determine an order and timing for purchase and sale of own shares as well as the amount of shares and shares price, and to complete all other actions related with acquisition of own shares.