Shareholders of INVL Baltic Farmland authorised the company, which invests in agricultural land, to purchase its own shares.
At the general shareholders meeting held on 28 October 2015, a minimum price per share of EUR 2.87 was established for INVL Baltic Farmland to purchase its own shares, and a maximum price per share of EUR 4 was set. The decision will remain in effect for 18 months from its adoption.
“The possibility of purchasing shares will only be utilized if the price on the exchange is less than the true value of the shares,” said Alvydas Banys, Chairman of the Board of INVL Baltic Farmland.
The international audit company PricewaterhouseCoopers was selected as INVL Baltic Farmland’s auditor for 2015-2017, fixing an annual payment for the services of EUR 6 thousand (not including VAT).
Subsidiaries of INVL Baltic Farmland, which is listed on the NASDAQ Vilnius exchange, manage 3,000 hectares of agricultural land in Lithuania for rental to agriculture companies and farmers. The value of INVL Baltic Farmland’s equity capital at end-September 2015 was EUR 10.002 million, or EUR 3.04 per share.