During the official tender offer to buy shares in Vilniaus baldai, AB, one of the major Lithuanian furniture manufacturers, the share buy up will be funded by DNB Bank, which issued a 17 million litas guarantee to Invalda LT, AB. The guarantee was secured by pledge of 39.35 percent of shares in Vilniaus baldai, AB, owned by Invalda LT, AB.
As announced earlier, Invalda LT, AB renders the tender offer to buy up shares in Vilniaus Baldai, AB cooperating together with Invalda Privatus Kapitalas, AB and other shareholders of Vilniaus Baldai, AB. The remaining 26.13 percent of shares in Vilniaus Baldai, AB will be offered to buy during the share buy up process.
“The agreement with the bank is needed in order to render the tender offer. The loan may be used for the settlement of “Vilniaus baldai” shares, depending on the number of shareholders responding to the tender offer”, – Darius Sulnis, the president of Invalda LT, AB, said. According to him, in such a case the loan is planned to be covered by dividends to be paid by Vilnius Baldai, AB in a few coming months.
The implementation of the tender offer will start on the fourth day after the Bank of Lithuania approves the tender offer circular and last 14 days. The tender offer price is EUR 14.869 (LTL 51.34) per share.
The total amount of EUR 15.1 million (LTL 52.137 million) may be paid for 26.13 percent of shares in Vilniaus Baldai, AB.
It is assumed that Invalda LT, AB may acquire 12.72 percent of shares in Vilniaus Baldai, AB for the value of EUR 7.352 million (LTL 25.385 million). The remaining shares will be acquired by Invalda Privatus Kapitalas, AB.
The person authorized to provide additional information:
Darius Sulnis
President
Tel. +370 5279 0601
E-mail: [email protected]