One of the largest Lithuanian investment companies\u2019 Invalda AB shareholders are proposed to reduce the company’s authorized share capital by cancelling Company’s treasury shares. There is also a proposal to authorise the Board to organise an additional buy-back of up to 10 per cent of Invalda AB shares.<\/p>\n
The decisions will be adopted on 24th of May in the Invalda AB Extraordinary General Shareholders\u2019 meeting.
\u201eCurrently Invalda AB is in the process of acquiring up to 10 percent of its own shares through the market of official offer. The shareholders are proposed to cancel the acquired shares because the company has an excessive funds and has no plans to sell the shares\u201c- said Dalius Kaziunas, the president of Invalda AB. <\/p>\n
According to him, the exact number of shares proposed to be cancelled will be known after completion of the first Invalda AB share buy-back program. Invalda AB is executing the share buy-back from 2nd till 15th of May, with the share price set at 10.358 litas. Up to 10 per cent of Invalda AB shares might be acquired for 59.6 million litas.<\/p>\n
Invalda AB shareholders are proposed to adopt the resolution to authorise the Board to organise an additional buy-back of up to 10 per cent of Invalda AB shares. D. Kaziunas points out that this decision will give the Company more flexibility to organize an additional buy-back if the shareholders actively participate in the first buy-back program.<\/p>\n