Invalda INVL continues employee stock option incentives
Invalda INVL will continue to provide the opportunity for employees of the asset management group to acquire stock options in the company. That and other decisions were adopted at the shareholders’ meeting held today.
“Within the Invalda INVL group, we have conducted a variety of employee stock option incentive programmes for many years. The asset management business relies on the team’s abilities and motivation to set long-term goals and achieve them. Stock options are a chance for employees to become shareholders of the company and receive part of the value created by their common efforts,”Darius Šulnis, President of Invalda INVL, says.
It was decided that, on the basis of options contracts signed this year, in 2024 employees of Invalda INVL and of companies in which Invalda INVL owns more than 50% of shares would obtain the right to acquire up to 120 thousand ordinary registered shares of Invalda INVL with a nominal value of EUR 0.29, paying a price per share of EUR 1.
In order for employees of the group to exercise options granted in 2018, it was decided to increase the authorised capital of Invalda INVL to EUR 3.47 million. For that purpose, 59,674 ordinary registered shares will be issued, for which the employees will pay EUR 0.20 each, as prior to exercise of the options the company paid dividends of EUR 0.80 per share.
Also at the meeting, shareholders approved the audited 2020 operating results. The company’s equity at the end of 2020 was EUR 83.2 million, or EUR 7.11 per share, and compared to the end of 2019 increased nearly 6% (also taking into account the EUR 9.3 million of dividends paid to shareholders). Invalda INVL earned a net profit last year of EUR 5.3 million.
“Invalda INVL’s retained earnings can be used for the further development of the Invalda INVL group and for investments in the products that INVL manages and offers to clients,” Darius Šulnis says.
It was decided at the shareholders meeting to allow the company to buy back its own shares. An existing reserve of EUR 9.9 million would be used for repurchasing shares. The maximum share buy-back price is the value of consolidated equity per share calculated according to the last consolidated equity figures published by Invalda INVL prior to the board’s decision, with a minimum buy-back price of EUR 1 per share.
Also at the meeting, two independent members were elected for a 4-year term on Invalda INVL’s audit committee. Biotechpharma UAB Managing Director Tomas Bubinas and Moore Mackonis Vilnius UAB partner and auditor Dangutė Pranckėnienė will thus now work on the committee.
Invalda INVL is a leading asset management group which is open and growing, invests with clients, and creates wealth for people through its work. The group’s companies, operating in Lithuania and Latvia, serve over 240 thousand individual and institutional clients from the region and abroad. Those clients have entrusted the Invalda INVL group with more than EUR 1.2 billion of assets for management in a variety of asset classes, including pension and mutual funds, individual portfolios, and private equity and other alternative investments.
The shares of Invalda INVL have traded on the Nasdaq Vilnius stock exchange since 1995.