Employees of Invalda INVL, one of the Baltic region's leading asset management groups, will have the opportunity to acquire Invalda INVL stock options. A new stock option policy will provide this opportunity to the employees of companies in which the group owns more than half of shares. The policy will be submitted for approval to the upcoming shareholders meeting on 29 April.
"The success of an asset management business goes hand in hand with the professionalism of its employees and their motivation to pursue the best long-term performance. Our goal is to further encourage the team of professionals we've put together by giving them attractive opportunities to become partakers of this business," says Darius Sulnis, the CEO of Invalda INVL.
The new option policy, he says, is meant to enable employees who create value with their work to benefit from the growth of Invalda INVL together with the company's shareholders. If all goes well with the policy, there are plans to increase the number of participating employees.
The stock option policy stipulates that the number of shares to be offered for acquisition by way of options is to be approved by the shareholders meeting. The price of the shares that employees are offered to acquire will be fixed, and decisions on concluding options sales contracts will be made by the company's board. Under the policy, employees' right to acquire the company shares for which options contracts have been signed may be exercised three years after the contracts are concluded.
According to the plan, employees who participate in the option programme in 2016 will be able in 2019 to acquire 52 906 shares at a price of EUR 1 per share.
The audited results of Invalda INVL have also been published. The company's consolidated equity capital at the end of 2015 was EUR 48.1 million, or EUR 4.11 per share, and during the year increased 8.2 per cent. The consolidated net profit of the Invalda INVL group last year was EUR 4.2 million.
It is proposed to authorize the board of the company to acquire up to 10 per cent of the company's own shares, setting a minimum buy-back price of EUR 1 per share and establishing that the maximum price should not exceed the book value of 1 share of the company prior to the start of the buy-back programme. The decision would remain in force for 18 months from its adoption. The proposal is being submitted to the Invalda INVL shareholders meeting.
Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic countries. Companies the group owns in Lithuania and Latvia manage more than 20 mutual, real estate and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity and other financial instruments. The group companies manage over EUR 300 million of assets entrusted to them by more than 150,000 clients in Lithuania and Latvia as well as international investors. The shares of Invalda INVL have traded on the Nasdaq Baltic exchange since 1995.