The general shareholders meeting of Invalda INVL, one of the Baltic region’s leading asset management groups, on 28 April this year approved the company’s audited annual results. Invalda INVL’s equity capital at the end of 2016 was EUR 52.7 million, or EUR 4.55 per share. During the year the group’s net asset value per share grew 10.7 per cent. The company’s profit in 2016 was EUR 4.8 million and increased 13.9 per cent in the year.
At the shareholders meeting the company’s board was also re-elected. For the coming four years it will continue to be comprised of Alvydas Banys, Indrė Mišeikytė and Darius Šulnis.
The meeting of shareholders also approved the number of ordinary registered shares of Invalda INVL for which employees will be offered options contracts during 2017, as well as the price of the shares. Based on this decision, employees of Invalda INVL and of companies in which it owns more than half of shares will be able to acquire up to 130 000 ordinary shares. The share purchase price is EUR 1. Employees will be able to exercise the right to acquire shares of the company for which options contracts have been concluded three years after entering into the contracts.
“Our aim is to maximally align the long-term interests of clients, employees and shareholders. We think we can only expect significant and sustainable growth of the Invalda INVL group if we create steady benefits for the investors who’ve chosen us and give employees the opportunity to get some of the value they create,” said Darius Šulnis, the CEO of Invalda INVL.
Also during the meeting, two independent members of Invalda INVL’s audit committee were elected for a four-year term. The committee will now comprise Tomas Bubinas, Chief Operating Officer at Biotechpharma UAB, and Dangutė Pranckėnienė, an auditor and partner at Moore Stephens Vilnius UAB.
In addition, decisions were made at the meeting regarding the buy-back of Invalda INVL shares. It was decided that the maximum number of shares which may be purchased shall be calculated to ensure that the nominal value of the total number of its own shares that Invalda INVL holds does not exceed one-tenth of the company’s share capital.
Moreover, the minimum share buy-back price was set at EUR 1 and the maximum price at the consolidate equity value of one share, calculated on the basis of the last consolidated equity figures published by Invalda INVL prior to the board’s decision. The company may buy back its own shares during a period of 18 months from the date of this decision.
Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic countries. Companies the group owns in Lithuania and Latvia manage more than 20 mutual, real estate and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity and other financial instruments. At the end of 2016 the group’s companies were managing over EUR 500 million of assets entrusted to them by more than 170,000 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.