Following the Board decision of Invalda AB 75 mLTL nominal value non-public bonds were issued. This issue will be refinanced in December 2008 by issuing non-public 25 mLTL and 50 mLTL nominal value convertible bonds.<\/p>\n
Invalda AB will present draft conditions of 105 mLTL nominal value convertible bonds issues for the general meeting of shareholders on November 14th, 2008. Seeking both major and minor shareholders of the company to have equal rights in acquiring bonds, issue of 30 mLTL is aimed for the minor shareholders to have equality with the major ones in obtaining bonds proportionally to the owned part of the company. Shareholders will have the opportunity to acquire 1 convertible bond by 40 owned shares.<\/p>\n
\u201eWe strive that all shareholders would have equal opportunities to acquire company\u2018s bonds. Despite that 75 mLTL value convertible bonds issue is intended to be obtained by the persons, related with major shareholders, minor shareholders will be able to maintain their part in the company\u2018s share by actively taking part in 30 mLTL bonds issue\u2018s subscription\u201c, – Darius \u0160ulnis, Invalda AB president, said.<\/p>\n
Convertible bonds of Invalda AB will be redeemed on July 1, 2010 with annual interest of 9.9 percent, or, by decision of the owner, could be converted into the shares, evaluating one share 5.5 LTL. There would go 18.18 shares per one bond, accordingly.<\/p>\n