The Management Board of Invalda INVL on 5 February 2019 approved entering into INVL Baltic Sea Growth Fund Partnership Agreement and a Subscription Agreement related to investment in INVL Baltic Sea Growth Fund, which is managed by Invalda INVL’s fully-owned subsidiary UAB INVL Asset Management.
Invalda INVL will invest EUR 19.15 million in the INVL Baltic Sea Growth Fund, a closed-end private equity investment fund intended for professional investors. It is provided that the capital committed to the fund will be called in stages, for the execution of specific transactions. After the investment in the INVL Baltic Sea Growth Fund is made, Invalda INVL undertakes not to invest in private equity assets that comply with the fund’s strategy and to conduct its main investment activity through this fund.
Initially Invalda INVL’s investment will comprise less than 20 per cent of the capital committed to the fund, while after the second closing it is envisaged that Invalda INVL’s investment may decrease to less than 10 per cent of the total capital committed to the fund. Invalda INVL does not plan to notify investors about material events when the INVL Baltic Sea Growth Fund enters into transactions for the acquisition of portfolio companies.
Invalda INVL, in keeping with article 372 of the Law on Companies of the Republic of Lithuania, applied to the company’s audit committee. The audit committee presented the opinion that, based on the information submitted by Invalda INVL, there are no grounds to consider that the planned decision of the Management Board of Invalda INVL to invest EUR 19.15 million into INVL Baltic Sea Growth Fund would be unfair and unjustified with regard to shareholders of Invalda INVL who are not a party to the transaction. The audit committee’s opinion is available for review at the head office of AB Invalda INVL at Gynėjų g. 14 in Vilnius during working hours.
Person authorized to provide additional information:
Darius Šulnis
E-mail: darius.sulnis@invl.com
