On 22 December 2021, Invalda INVL signed a Share Purchase-Sale Agreement with the European Bank for Reconstruction and Development. The parties agreed that Invalda INVL will directly and\/or indirectly acquire from EBRD 35,240,296 shares of \u0160iauli\u0173 bankas by 31 May 2024 at the latest. The shares will not be acquired all at once, but in instalments, in separate tranches. The parties have agreed that the initial price for \u0160iauli\u0173 bankas shares is EUR 0.633 per share and it will be recalculated during every payment considering dividends paid or other changes in capital by \u0160iauli\u0173 bankas, as well as 5% annual interest calculated from the date of signing the agreement.<\/p>\n
Currently, Invalda INVL, together with its subsidiary INVL Asset Management, owns 6.14% of the shares of \u0160iauli\u0173 bankas. Invalda INVL has not made a decision to increase the number of directly or indirectly owned shares of \u0160iauli\u0173 bankas to such an extent that the threshold of 10% of \u0160iauli\u0173 bankas shares is reached or exceeded. This threshold will not be exceeded in the first phase of acquisition. In case it is planned to reach or exceed the limit of 10% of \u0160iauli\u0173 bankas shares in any of the subsequent stages of acquisition, the Management Board of Invalda INVL will have to reconsider this issue and make an additional decision on maintaining the existing \u0160iauli\u0173 bankas shares and(or) acquiring new shares.<\/p>\n
It has been agreed that in the first stage of the acquisition, which is to be completed on 29 December 2021, 11,772,840 shares, representing 1.96% cent of the authorized capital of \u0160iauli\u0173 bankas, for the total amount of EUR 7,459,184 will be acquired by INVL LIFE, a subsidiary of Invalda INVL.<\/p>\n