Estimating the overall situation and striving to decrease short term liabilities of Invalda AB, the Board of Invalda on October 13, 2008, decided to fulfil the following actions:
1. To initiate the sale of part of Invalda AB group’s assets. Particular deals will be confirmed by separate Board’s decisions.
2. To issue convertible bonds for the total nominal value of mLTL 105:
2.1. maturity date 01.07.2010;
2.2. interest rate 9.9 %;
2.3. nominal value of one bond LTL 100.
2.4. bonds, upon decision of the owner, may be converted to shares of Invalda AB estimating one share LTL 5.5.
2.5. To strive to grant all Invalda AB shareholders the right to acquire in proportion publicly issued bonds.
2.6. To convoke Invalda AB General Shareholders meeting. Confirming draft decisions of the meeting to determine all details of convertible bonds issue.
3. To sign Letter of Intent with Dailius Juozapas Miseikis and Alvydas Banys and preliminary agreements regarding mLTL 75 non-public convertible bonds issue upon conditions stated above.