Invalda INVL shareholders approve stock options for INVL group employees moving to Šiaulių Bankas

The shareholders of Invalda INVL authorised signing stock option agreements with employees of INVL group companies who are moving to the Šiaulių Bankas group as well as the procedure and price for the acquisition of the company’s shares in 2027.

A meeting of Invalda INVL shareholders on 22 November voted to give some employees of INVL group companies the opportunity to enter into option contracts still this year, in implementation of the agreement of 22 November last year on the merger of Invalda INVL’s indirectly managed retail asset management and life insurance businesses with the Šiaulių Bankas group. Completion of the merger is expected still this year.

The right to sign Invalda INVL stock option contracts will be available to employees of INVL Asset Management, INVL Life and INVL Financial Advisors who are moving to Šiaulių Bankas and its subsidiaries and who will receive bonuses for 2023. About 200 people work in Invalda INVL’s retail business.

“The stock options would be granted to employees of INVL group companies moving to the Šiaulių Bankas Group as a variable part of their compensation for 2023 and for their work on the merger transaction. It is also one of the ways to obtain a part of the value created by the company in the future,” says Alvydas Banys, the Chairman of the Board of Invalda INVL.

Since 2016 when the company began to offer stock options to employees and including the agreements signed this year that specify the number of shares, employees of the INVL group have entered into stock option agreements for a total of 734,318 shares of Invalda INVL and to date have acquired 447,179 of those shares.

About Invalda INVL

Invalda INVL is a leading Baltic investment management and life insurance group. Growing and developing with an open approach, it creates well-being for people through its work. The group’s companies operate across Lithuania, Latvia and Estonia and serve over 300,000 private and institutional clients from the Baltic region and abroad. Those clients have entrusted the Invalda INVL group with the management of more than EUR 2 billion of assets in a variety of asset classes including pension funds, mutual funds and life insurance commitments as well as individual portfolios, private equity and other alternative investment activities. 

The shares of Invalda INVL have been traded on the Nasdaq Vilnius stock exchange since 1995. Invalda INVL’s equity at the end of June 2023 was EUR 129.8 million.