The Administration firm INVL Asset Administration, UAB of INVL Know-how (hereinafter – “the Firm”), taking into consideration that the Firm has shaped and never realised the reserve for the acquisition of personal shares which is the same as EUR 9.8 million and contemplating the decision of the Normal Shareholders Assembly of the Firm held on 30 April 2024, initiates the acquisition of the Firm‘s personal atypical registered EUR 0.29 nominal worth shares. The acquisition will probably be carried out by means of the market of official provide of Nasdaq Vilnius inventory change.
Share sale gives shall be gathered throughout the complete buy interval. Ought to sale gives exceed amount of shares to be acquired, all gives shall be diminished in proportion.
Buy circumstances:
Share buy begins on 6 Might 2024.
Share buy ends on 20 Might 2024.
Most variety of shares to be acquired (models): 200,000 models.
Whole most buy value (EUR): EUR 500,000.
Most buy value (EUR): EUR 2.50 per share.
Share buy value (EUR): the worth shall be decided in accordance with Dutch public sale rules, i.e. transaction shall be executed at „single value“.
Further data:
INVL Know-how, an organization that invests in IT companies, intends to purchase again a few of its personal shares utilizing a reserve shaped for that goal. The corporate’s shares will probably be repurchased within the first utility of Dutch public sale guidelines on the Lithuanian capital market.
The share buyback interval begins on 6 Might and ends on 20 Might. A most of 200,000 of the corporate’s shares will probably be acquired (or 1.6% of its share capital). The utmost buy value is EUR 2.50 per share. Earlier than the announcement of the buyback, the worth of INVL Know-how’s shares on the inventory change was EUR 2.28.
“The aim of the share repurchase is to satisfy obligations associated to inventory possibility programmes and different share allocations to staff of subsidiaries, and/or to scale back the corporate’s licensed capital by annulling acquired personal shares. The buyback share value will probably be decided on a Dutch public sale foundation, in different phrases, all shares will probably be repurchased on the lowest value established by the change’s algorithm,” says Kazimieras Tonkūnas, the Managing Companion of INVL Know-how.
He mentioned that whereas beforehand corporations in Lithuania often purchased again shares at a hard and fast value, this time a call was taken to make use of the Dutch public sale performance that Nasdaq gives, the place the market units the ultimate buyback value.
“If fewer shares are provided on the public sale than the corporate seeks to purchase again, transactions will happen on the most value. If extra shares are provided, then orders will probably be executed on the lowest value at which the total desired variety of shares might be repurchased,” says Vaidotas Užpalis, the Head of Transaction Companies at Nasdaq Baltic.
An allocation of EUR 500,000 is envisaged for repurchasing shares, utilizing a part of a EUR 9.8 million reserve shaped in 2015 for that goal.
Procedures for the acquisition of personal shares had been permitted at a basic assembly of the corporate’s shareholders held on 30 April. The corporate was given the correct to amass personal shares for as much as 10% of its licensed capital, with a time restrict for such acquisitions of 18 months from the date of the choice of the shareholders’ assembly. The utmost buy value per share is INVL Know-how’s final revealed web asset worth; the minimal is EUR 0.29. For the reason that acquired shares is not going to be offered, no minimal promoting value or sale process was stipulated.
INVL Know-how owns the cybersecurity firm NRD Cyber Safety, the GovTech and FinTech firm NRD Corporations, and the Baltic IT firm Novian.
In mid-March this yr, the corporate introduced that it had signed an settlement with the Zurich department of M&A intermediation service supplier Corum Group’s Luxembourg-based unit Corum Group Worldwide, to advise and function M&A middleman on the sale of the corporate’s portfolio of companies.
INVL Know-how, which is managed by INVL Asset Administration, the main different asset supervisor within the Baltics, is a closed-end funding firm which should exit its investments no later than mid-July 2026 and distribute the cash to shareholders.
The particular person licensed to offer extra data:
Kazimieras Tonkūnas
INVL Know-how Managing Companion
E-mail okay.tonkunas@invltechnology.lt