The Management Board of Invalda LT, one of the largest investment companies in Lithuania, decided to initiate implementation of the share buy-back procedure. Share acquisition price is EUR 2.90 (LTL 10.013) and up to 8% of company shares may be acquired.
EUR 5.8 million (LTL 20.026 million) may be paid for 2 million units of Invalda LT shares. Share buy-back procedure will be implemented through the market of official tender offers of NASDAQ OMX Vilnius stock exchange starting from 24 September until 7 October.
“The Management Board implements the decision of the Shareholders Meeting and initiates the buy-back using spare funds of the company. Each shareholder has an option and possibility to continue to hold the shares or sell them to the company” – Darius Sulnis, the president of Invalda LT, said.
Based on the buy-back price, the total value of Invalda LT is EUR 72.017 million (LTL 248.661 million).