Vilnius, Lithuania, 2015-04-30 07:33 CEST (GLOBE NEWSWIRE) -- Public joint-stock company INVL Technology received the announcement from public joint-stock company Invalda LT about the intention to submit a voluntary tender offer for INVL Technology, AB shares. Text of the announcement is provided below:
The General Shareholders Meeting of INVL Technology, AB (code 300893533, address Gynėjų str. 16, Vilnius) that was held on 10 April 2015, adopted a decision to reorganize the activity of the INVL Technology, AB so it would operate as the closed-end investment company under the Law of the Republic of Lithuania on Collective Investment Undertakings, and authorized the Board of INVL Technology, AB to the actions below:
1. To apply to the Bank of Lithuania for obtaining the license of the closed-end investment company by INVL Technology, AB. 2. To prepare the draft of the Articles of Association of the closed-end investment company INVL Technology and the other required documents in order to obtain the license of the closed-end investment company. 3. To prepare the draft of the Management Agreement with INVL Asset Management, UAB (company code 126263073) for transfer of management of the closed-end investment company INVL Technology. 4. To negotiate with the potential custodians (depositories) of the closed-end investment company INVL Technology and prepare the draft of the contract with the depository. The key condition of the agreement is that the expenses for custody should not exceed 0.1 per cent of the annual net asset value of the closed-end investment company INVL Technology. 5. To perform other mandatory actions to obtain the closed-end investment company license for the INVL Technology, AB.
Seeking to ensure the right of INVL Technology, AB shareholders, who did not vote or voted “against” the aforementioned decision to sell their shares, shareholders, who voted “for” the decision to reorganize the activity of the INVL Technology, AB so it would operate as the closed-end investment company under the Law of the Republic of Lithuania on Collective Investment Undertakings at the General Shareholders Meeting held on 10 April, 2015, within one month from the General Shareholders Meeting will have to announce a voluntary tender offer to purchase the rest of the ordinary registered shares of the INVL Technology, AB.
Taking into consideration the above stated and according to the 31 Art 7 par of the Law on Securities of the Republic of Lithuania, INVL Technology, AB shareholders, who voted “for” the decision to reorganize the activity of the INVL Technology, AB so it would operate as the closed-end investment company under the Law of the Republic of Lithuania on Collective Investment Undertakings (there shareholders hold 5 700 680 ordinary registered shares of the INVL Technology, AB, that consist 93,229 % of all issued shares and voting rights), announce about the intention to submit a voluntary tender offer to purchase 414 034 ordinary registered shares with EUR 0.29 (equivalent to 1 LTL) value each of the INVL Technology, AB (code 300893533, address Gynėjų str. 16, Vilnius), which ISIN code is LT0000128860, and that consist 6,771 % of all INVL Technology, AB issued shares and grants 6,771 % of all voting rights.
For the shares will be paid in cash paying 1,61 EUR (equivalent to 5,559 LTL) per each share.
According to the Agreement of 28 of April, 2015, Invalda LT, AB (code 121304349, address Šeimyniškių str. 1A, Vilnius, tel. +370 5 279 0601, e-mail info@invaldalt.com) represents the shareholders, who submit a voluntary tender offer, during submission and implementation of the voluntary tender offer (including representation in submission of information regarding voluntary tender offer).
The person authorized to provide additional information: Kazimieras Tonkūnas Director E-mail: k.tonkunas@invltechnology.lt
