On Friday one of the major Lithuanian investment companies INVALDA, AB completed implementation of the share redemption procedure; 2.1 percent shares were offered to the Company during the procedure for the amount of 8.878 million litas.
The acquired shares will be settled on May 27, 2013. After the settlement the amount of Company‘s shares with voting right will total to 45.5 million units (excluding Company’s treasury shares).
„Until the completion of the split-off procedure the trade of shares of INVALDA, AB will be suspended from May 27, 2013. It is assumed that two companies will start operation in June“ – Mr. Darius Sulnis, the president of INVALDA, AB, said.
In accordance with the Law on Companies, the shareholders of INVALDA, AB, holding shares the nominal value whereof is less than 1/10 of the authorized capital of INVALDA, AB had a right within 45 days to require the Company to redeem their shares. The shares redemption was implemented through the market of official offer of NASDAQ OMX Vilnius stock exchange. The redemption price was LTL 8.076.
According to the split – off terms approved by the shareholders of the Company, a part of INVALDA, AB will be split – off and, on the basis this part, a new public joint – stock company Invalda Privatus Kapitalas will be formed. 45.45 percent of the total assets of INVALDA, AB (a balance sheet value of the Company’s assets at the end of 2012 totaled to 372.2 million Litas) as well as 45.45 percent of its equity capital and liabilities will be allocated to the newly established entity.
It is assumed that the authorized capital of Invalda LT, AB amounts to 24.8 million litas and Invalda Privatus Kapitalas, AB – to 20.7 million litas.
INVALDA, AB will continue its activity under the new name Invalda LT, AB.
After the split – off, Mr. Darius Sulnis, Mr. Alvydas Banys and Ms. Irena Ona Miseikiene, as well as the persons related to them, will be the largest shareholders in Invalda LT, AB; and Mr. Vytautas Bucas, Mr. Algirdas Bucas and Ms. Irena Ona Miseikiene will be the largest shareholders in Invalda Privatus Kapitalas, AB.
The person authorized to provide additional information:
Darius Sulnis
President
Tel. (8 5) 273 4876
E-mail: [email protected]