In today‘s General Meeting of shareholders of Invalda AB all the proposed resolutions were adopted: the Policy of payouts to the shareholders; project of acquisition of own shares; Policy for the participation of Group employees in the capital of Invalda AB and Policy of Management remuneration. Moreover, the audit company was elected and Dalius Kaziunas was appointed as the new member of the Board.
According to the president of Invalda Darius Sulnis, decisions adopted at the General Meeting of shareholders once more confirmed the strategy in company‘s activity to seek long term growth of the company bringing the shareholders interests to the fore. „The adopted decisions increased transparency of the company, as well as investors and society‘s ability to foresee company‘s future, and, the most important, it clearly determined company‘s responsibility to the shareholders“, – Darius Sulnis said.
Invalda confirmed Policy of payouts to the shareholders. In the draft of the Policy of payouts to the shareholders during 2008 – 2010 it was forecasted to payout to the shareholders LTL 127.7 m (LTL 3 per share if calculated according to the present amount of shares). Dividends, funds paid out during the purchase of own shares, other payouts are considered to be the payouts to the shareholders according to this policy.
The proposal of acquisition up to 10 percent of own shares, paying per share from LTL 14 to LTL 30 was also presented to the General Meeting of shareholders. The reserve of LTL 69.13 m, formed by General Meetings in 2007 and 2008, is to be used. The term of 18 months from the day of the General Meeting for the purchase of own shares was set.
Also at the General Meeting of the shareholders Dalius Kaziunas was elected as the new member of the Board, replacing Dailius Juozapas Miseikis, the receding long-standing member of the Board. Information about D.Miseikis gradually receding from the activity on Invalda Board and staying as a financial investor was announced last year. D.Miseikis plans to maintain his stake in the company.
The Board‘s proposal concerning of the group employees participation in the company’s capital by signing the options contracts and the Policy of Management remuneration were approved. A company ERNST&YOUNG BALTIC UAB was elected for auditing the financial statements of Invalda AB of the 2008-2009 years.