The shareholders of Invalda LT, one of the major companies in Lithuania investing in other businesses and managing assets, approved the change of companies corporate name to Invalda INVL.
“We intend to use the INVL brand name in further development of asset management business, therefore we propose corporate name change of the parent company”, said Darius Sulnis, president of Invalda LT.
The brand name INVL is also used by INVL Asset Management, one of the largest asset management companies in Lithuania, and by INVL Baltic Real Estate, a real estate investment company that was split from Invalda LT and is listed in NASDAQ Vilnius stock exchange, INVL Baltic Farmland and INVL Technology.
The shareholders also authorized the Board to innitiate the buy-back of own shares. Minimum buy-back price of one share is 3 euros and the maximum price should not exceed book value per share before the initiation of the buy-back. Decision is valid for 18 months.
Also the audited results for 2014 are approved. At the end of 2014 net asset value of Invalda LT amounted to EUR 44.5 million, or 3.75 euros per share. During 2014 Invalda LT earned EUR 20.5 million of net profit.