It is proposed that INVL Baltic Farmland, a company that invests in agricultural land, be given the opportunity to acquire some of its own shares.
A meeting of shareholders to be held on 28 October 2015 will consider the proposal to establish a minimum price per share of EUR 2.87 for INVL Baltic Farmland to purchase its own shares and set the maximum price at EUR 4. The decision would remain in effect for 18 months from its adoption.
“The possibility of purchasing shares will only be utilized if the price on the exchange is less than the true value of the shares,” – Alvydas Banys, Chairman of the Board of INVL Baltic Farmland, said.
It is also proposed that the international audit company PricewaterhouseCoopers be selected as the auditor for INVL Baltic Farmland during 2015-2017, fixing an annual payment for the services of EUR 6,000 (without VAT). It is proposed to move the company’s main office to Gynejs str. 14 in Vilnius.
Subsidiaries of INVL Baltic Farmland, which is listed on the NASDAQ Vilnius exchange, manage 3,000 hectares of agricultural land in Lithuania for rental to agriculture companies and farmers. The value of INVL Baltic Farmland’s equity capital at end-June 2015 was EUR 9.938 million, or EUR 3.02 per share.