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Invalda INVL voluntary tender offer for INVL Baltic Real Estate shares is approved

On 16 November, 2015 the Supervision Service of the Bank of Lithuania approved the circular of the voluntary takeover bid, according to which the offerors, represented by “Invalda INVL”, AB under the agreement signed on 5 November, 2015, to buy up remaining ordinary registered shares of “INVL Baltic Real Estate”, AB (code 152105644), which are not owned by the offerors – 3 509 076 ordinary registered shares, 0,29 euro par value each, ISIN code LT0000127151, amounting to 8,12 per cent of “INVL Baltic Real Estate”, AB issued shares and granting 8.12 per cent of the voting rights.

Takeover bid will be deemed valid regardless of whether none ordinary registered share of “INVL Baltic Real Estate”, AB with a nominal value of 0,29 euro, under the following ISIN code LT0000127151 will be submitted for bought-up.

The takeover bid starts during the fourth business day following the supervisory authority’s decision to approve the circular – on 20 November, 2015. The takeover bid implementation period – 14 days (from 20 November, 2015 till 3 December, 2015 (inclusive)).

The price of non-competitive voluntary takeover bid is 0.35 euro for 1 (one) ordinary registered “INVL Baltic Real Estate”, AB share with nominal value 0.29 euro per each, for shares will be payed in cash.

The takeover bid will be implemented on Takeover bid market of NASDAQ OMX Vilnius, AB through the intermediary bank Finasta, AB.

The right to sell their shares during the takeover bid have “INVL Baltic Real Estate”, AB shareholders, who at the General Shareholders Meeting held on 28 October 2015, did not vote or voted “against” the decision to reorganize the activity of “INVL Baltic Real Estate”, AB to the closed-end investment company under the Law of the Republic of Lithuania on Collective Investment Undertakings.

After reorganization of the activity of “INVL Baltic Real Estate”, AB to the closed-end investment company under the Law of the Republic of Lithuanian on Collective Investment Undertakings, shareholders of “INVL Baltic Real Estate”, AB will become participants of the closed-end investment company under the Law of the Republic of Lithuanian on Collective Investment Undertakings without an individual expression of will.

Before taking the decision whether to sell their shares of “INVL Baltic Real Estate”, AB during the takeover bid, investors should take into account that neither the offerors nor “INVL Baltic Real Estate”, AB have not assessed whether the shares of “INVL Baltic Real Estate”, AB will be suitable for each shareholder, taking into account each individual shareholders knowledge and experience in the investment field, if ‘INVL Baltic Real Estate”, AB will receive a closed-end investment company license. 

Detailed takeover bid conditions are provided in attached circular.

Attached hereby:

Decision No. 241-202 of the Supervision Service of the Bank of Lithuania on 16 November, 2015, regarding approval of the voluntary takeover bid circular (lithuanian only)

Voluntary takeover bid circular

Summary of the tender offer circular is attached as well.

 

The person authorized to provide additional information:

Darius Sulnis, President

Phone + 370 5279 0601

E-mail: [email protected]