The share buy-back price per share was EUR 2.2103, according to NAV as of
The Company’s shares were repurchased, and settlement made with the shareholders who submitted orders to sell and met the requirements set out in the Company’s share buy-back rules, in four stages:
- The first stage lasted until
8 February 2021 (inclusive). During this stage, the Company bought back 13 shares from one shareholder forEUR 28.73 , with settlement for them made on10 February 2021 . - The second stage lasted until
22 February 2021 (inclusive). During this stage, the Company bought back 1,190,122 shares (9.05% of all the Company’s outstanding shares) from 3 shareholders forEUR 2,630,526.66 , with settlement for them made on24 February 2021 . - The third stage lasted until
8 March 2021 (inclusive). During this stage, the Company bought back 10,020 shares (0.076% of all the Company’s outstanding shares) from 3 more shareholders forEUR 22,147.21 , with settlement for them made on10 March 2021 . - The fourth stage lasted until
25 March 2021 (inclusive). During this stage, 4 shareholders of the Company submitted orders to sell 3,788,000 shares (28.81% of all the Company’s outstanding shares) forEUR 8,372,616.40 . Settlement for them will be made on29 March 2021 .
The share buy-back process was carried out under the decision of the General Meeting of Shareholders of the Company of
Additional information:
The real estate investment company
The buy-back price per share of EUR 2.2103 equalled the net asset value per share on
“Buying back some of its own shares will enable the company to reduce excess equity capital and at the same time generate a bigger return on shareholders’ equity. Our aim is for the company to have a suitable capital structure and be efficient – that’s important for creating value for investors. We’re also ready to invest in non-standard, creative solutions that would help earn a big return for investors and expand the real estate management business, and to raise new capital as needed,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages
The company’s shares were repurchased, and settlement made with the shareholders who submitted orders to sell and met the requirements set out in the company’s share buy-back rules, in four stages:
- The first stage lasted until
8 February 2021 (inclusive). During this stage, the company bought back 13 shares from one shareholder forEUR 28.73 , with settlement for them made on10 February 2021 . - The second stage lasted until
22 February 2021 (inclusive). During this stage, the company bought back 1,190,122 shares (9.05% of all the company’s outstanding shares) from 3 shareholders forEUR 2.6 million , with settlement for them made on24 February 2021 . - The third stage lasted until
8 March 2021 (inclusive). During this stage, the company bought back 10,020 shares (0.076% of all the company’s outstanding shares) from 3 more shareholders forEUR 22 thousand , with settlement for them made on10 March 2021 . - The fourth stage lasted until
25 March 2021 (inclusive). During this stage, 4 shareholders of the company submitted orders to sell 3,788,000 shares (28.81% of all the company’s outstanding shares) forEUR 8.4 million . Settlement for them will be made on29 March 2021 .
The share buy-back process was conducted on the basis of the decision made at the general meeting of the company’s shareholders on 14 January this year to amend essential provisions of the company’s founding documents. Shareholders of the company who opposed or did not vote for the amendments had the right to require that the company buy back the shares they held.
The share buy-back process took place from
After
Considering that large numbers of shares have changed hands, it is expected that after settlement, notifications about the loss of voting rights will be received and that information will be announced publicly on the Nasdaq Vilnius website together with the full shareholder structure after the buy-back.
INVL Baltic Real Estate’s property holdings currently have an area of 26,000 sq. m. and a value of
Since its launch as a collective investment undertaking (on
The person authorized to provide additional information:
Vytautas Bakšinskas
E-mail vytautas.baksinskas@invl.com
Attachment
- INVL BRE rules for the buy-back of shares (2021)
© OMX, source