Investment company Invalda strengthens its capital base. It was in principle agreed with the owner of 50 mLTL nominal value bonds about conversion of bonds to shares. Moreover, it is planned to prolong the redemption date of another 25 mLTL convertible bonds until July 1, 2012.
January 30, 2010 Invalda shareholders are going to vote on a partial change of November 14, 2008 decisions of the Shareholders Meeting. These decisions are related with 75 mLTL bonds issues.
“With the consent of the shareholders by these and other actions we will significantly strengthen the balance sheet of Invalda and reduce company‘s current liabilities” – said the president of Invalda Darius Sulnis.
According to him, the company’s second priority is to adapt businesses to radically changed economic environment. „I suppose this goal we implemented last year. All our main businesses operate well and gives positive cash flows “- said D. Sulnis.
The agreement with the owner of 50 mLTL nominal value bonds issue who is related with Dailius Juozapas Miseikis will take effect after Invalda Shareholders Meeting pass the decision concerning offered amendments and parties fulfill other conditions. It is planned that these bonds will be converted to Invalda shares at the previously published ratio 5.5 LTL per share but in addition 9.9 percent of accumulated annual interest would be paid.
After the bonds conversion the number of Invalda shares will increase from 42.569 million up to 51.66 million units.
It is planned to prolong the redemption date of another 25 mLTL convertible bonds until July 1, 2012. The previous redemption date was July 1, 2010.
Invalda shareholders also will vote on a new 7.44 mLTL convertible bonds issue and on cancellation of a priority right to buy these bonds for current Invalda shareholders.
About Invalda AB
Investment company Invalda was established in 1992. The goal of the company – steady long term growth, successful activity development and high long term financial return to the shareholders. Currently Invalda focuses on pharmacy (Sanitas), roads and bridges construction (Tiltra Group, Kauno Tiltai), furniture manufacturing (Vilniaus Baldai), real estate (Invalda Nekilnojamojo Turto Fondas) and IT infrastructure (Positor, Baltic Amadeus Infrastrukturos Paslaugos) segments.
Activities of Invalda group cover Central and East Europe – Poland, Lithuania, Slovakia and Latvia.
Invalda AB shares have been listed since December 19, 1995 (then – at National Stock Exchange); from the January 1, 2008 the company’s shares have been on the Main List of Vilnius Stock Exchange.