On NASDAQ OMX Vilnius stock exchange listed real estate investment company INVL Baltic Real Estate AB will be merged with its subsidiary company Invaldos Nekilnojamojo Turto Fondas AB. Reorganization terms was approved at the Shareholder Meeting on Monday.
After the merger proccess INVL Baltic Real Estate continue its operations under the name INVL Baltic Real Estate and will remain listed on NASDAQ OMX Vilnius stock exchange. Shareholders of INVL Baltic Real Estate will get 6,136287941 shares of Invaldos nekilnojamojo turto fondas for every ordinary share. After the merger process the total number of shares for the company will be 43,226,252 and market capitalization of EUR 13.3 million at today’s price.
“Now we will apply for closed-end investment companies license in Bank of Lithuania”- says Andrius Dauksas, Director of INVL Baltic Real Estate.
At the shareholders meeting of INVL Baltic Real Estate was also approved appointment of PricewaterhouseCoopers, UAB as the auditor to Invaldos nekilnojamojo turto fondas and Danute Kadanaite and Tomas Bubinas (independant member) was elected on the Audit Committee.
INVL Baltic Real Estate currently invested into real estate objects in Vilnius and Riga. Group companies have about 51,700 sq. m. of real estate space.