INVL Baltic Real Estate, AB – a real estate investment company listed on NASDAQ Vilnius stock exchange and its subsidiary company Invaldos Nekilnojamojo Turto Fondas AB will be merged. Reorganization terms will be granted for approval on 10 August 2015.
In order to smoothly finish merger process trading in INVL Baltic Real Estate, AB shares will be stopped from 3 August 2015
After the approval of the shareholders, INVL Baltic Real Estate will be merged with Invaldos Nekilnojamojo Turto Fondas AB and continue its operations after the reorganisation under the new name – the public joint-stock company INVL Baltic Real Estate and will remain listed on NASDAQ OMX Vilnius stock exchange.
“This reorganisation will make a structure of the group more simple because INVL Baltic Real Estate already has 100% of Invaldos nekilnojamojo turto fondas shares. After reorganisation we will apply for closed-end investment companies license in Bank of Lithuania” says Andrius Dauksas, director of INVL Baltic Real Estate.
Shareholders of INVL Baltic Real Estate will receive 6.136287941 shares in Invaldos Nekilnojamojo Turto Fondas for every ordinary share. After the merger process the total number of shares for the company will be 43,226,252 and market capitalization of EUR 13.3 million at today’s price.
On the shareholders meeting agenda there is also an item to appoint the PricewaterhouseCoopers as the auditor to Invaldos Nekilnojamojo Turto Fondas and to elect Danute Kadanaite and Tomas Bubinas (independant member) on Audit Committee.
INVL Baltic Real Estate currently invested into real estate objects in Vilnius and Riga. Group companies have about 51 700 sq. m. of real estate space. Shares of INVL Baltic Real Estate are listed on NASDAQ Vilnius stock exchange.