One of the largest Lithuanian investment companies Invalda AB shareholders approved the results for the year 2011 and formed a reserve of 269.1 million litas for the share buy-back. Taking into consideration the passed resolutions the Board of Invalda AB decided to acquire up to 10 per cent of shares of the Company, paying for each of them 10.358 litas (€3). The share buy-back program will last until May 15.
„The Board of Invalda AB is of the opinion that the Company’s share price on stock exchange is lower than the net asset value, accordingly the Company is taking steps to decrease this difference. Share buy-back program will give an opportunity to shareholders to decide – whether to sell shares of Invalda AB and as a result to cash in the excessive Company’s funds, or to hold the shares longer”, – said Dalius Kaziunas, the president of Invalda AB.
Purchase of shares will be implemented through the market of official offer of NASDAQ OMX Vilnius AB. All shareholders of Invalda AB have an equal right to participate in the proposal.
In 2011, 209 million litas (€ 60.5 million) audited net profit attributable to the parent Company‘s shareholders was earned by Invalda group. The parent company Invalda AB earned profit of 274.9 million litas (€ 79.6 million). The sale of Sanitas AB and Tiltra Group AB shares and the successful activity of Vilnius baldai AB contributed to the Company‘s profit. In the General Shareholders’ Meeting it was decided not to pay any dividends and form a reserve from the retained earnings for the shares buy-back.
Indre Miseikyte, 41 years old, was elected to the Board. On April 06, 2012 Dalius Kaziunas has resigned from the Board and now he is a president of Invalda AB.
I. Miseikyte has graduated architecture studies in Vilnius Gediminas technical university. She is currently employed as an architect at Inreal Valdymas UAB, Invalda Group Company. I. Miseikyte holds 0,79 per cent of Invalda AB shares acquired by repurchase agreement, but those shares do not allow for voting rights. I. Miseikyte also controls 25 per cent of DIM Investment UAB shares. As announced earlier, DIM Investment UAB owns 2,32 per cent of Invalda AB votes.
The person authorised to provide additional information:
Dalius Kaziunas
President
Tel. +370 5273 3278
Email: [email protected]