General shareholders meeting of Invalda LT, AB authorised the Board to initiate share buy-back. It was decided to set the share acquisition price at of EUR 2.5 to EUR 3.5 (LTL 8.63 to 12.08).
The resolution issued by the General shareholders meeting and the allocation of all retained earnings to the reserve allows the Board to make the decision on buy-back. Decision will be made taking into account market conditions, – said Darius Sulnis, the president of Invalda LT.
The maximum amount spent to acquire 10 percent of treasury shares would range from EUR 6.2 million (at a price of 2.5 EUR) to EUR 8.7 million EUR (at a price of EUR 3.5).
The General shareholders meeting of Invalda LT, AB elected Danute Kadanaite, a Lawyer at Legisperitus, UAB as the member of the Audit Committee and Tomas Bubinas, Chief Operating Officer at Biotechpharma, UAB as the independent member of the Committee.