According to the decision made on the shareholders meeting dated 10 April 2015, the Board of INVL Technology applied to the Bank of Lithuania for issuance of the closed-end investment company license.
Upon issuance of this license management of the Company will be transferred to INVL Asset Management UAB – a licensed asset management company, controlled by the subsidiary of one of the largest investment and asset management groups in Baltic countries Invalda INVL AB.
Planned term of closed-end investment company – 10 years (with option to extend for 2 years), investment period – 5 years.
There is expected to select SEB Bank AB as the custodian of INVL Technology AB assets.
INVL Technology shares will remain listed on NASDAQ Vilnius stock exchange. It is expected that INVL Technology will be first listed closed-end private equity investment company in Baltic countries.
New Articles of Association, administration agreement with INVL Asset Management UAB and depository agreement with SEB Bank AB will be provided for approval on the Shareholders Meeting of INVL Technology AB.