Shareholders of INVL Technology, a company that invests in information technology businesses, approved amended Articles of Association and the Management Agreement with the management company INVL Asset Management, which is one of the leading asset management companies in Lithuania.
INVL Technology is currently seeking for issuance of a closed-end investment company license from the Bank of Lithuania. It is expected to finish the licensing process in July.
The shareholders formed the audit committee of INVL Technology and elected Danute Kadanaite and Tomas Bubinas (independent member of the audit committee) as the members of the audit committee of the company (they were also the present members of the audit committee of INVL Technology).
The equity capital of INVL Technology as of 31 March 2016 was EUR 24.23 million or EUR 1.99 per share.
INVL Technology operates as a cluster of IT businesses focused on sales to large corporate and public sector clients and active in four main areas: business climate improvement and e-governance, IT infrastructure, cyber security, and solutions for IT intensive industries.
At present, INVL Technology's largest investments are in Lithuania, Norway and Estonia.
The company has invested in: Norway Registers Development AS with its subsidiaries NRD UAB, Etronika UAB, Norway Registers Development East Africa Ltd., Norway Registers Development Rwanda Ltd. and Infobank Uganda Ltd.; BAIP UAB with its subsidiary Acena UAB; NRD CS UAB; Algoritmu Sistemos UAB; and Andmevara AS with its subsidiary Andmevara SRL.