Vilnius, Lithuania, 2014-04-15 15:25 CEST (GLOBE NEWSWIRE) --
Due to the fact that:
1) shareholders meeting of Invalda LT is held on 28 April 2014 and the meeting should pass decisions regarding the split-off of the company and approval of the split-off terms;
2) when the above mentioned decision is taken, according to the rules specified in the split-off terms part of owned Invalda LT shares will be annulled shareholders will be entitled to the shares of the split-off companies;
and seeking to ensure smooth implementation of the split-off process of Invalda LT, the Board of Invalda LT decided to halt trading in Invalda LT shares on NASDAQ OMX Vilnius stock exchange from 23 April 2014 till the end of the split-off.
Additional information:
“Trading will be stopped in order to implement fast and smooth split-off. We will have a stable list of company’s shareholders on the shareholders’ meeting day, therefore, we will be able to quickly complete the split-off process and resume trading. We will seek to start trading of newly established companies shares on NASDAQ OMX Vilnius Stock Exchange in May", - Darius Sulnis, the president of Invalda LT, commented.
Current Invalda LT shareholders will participate in the capital of new companies according to the proportions of their existing shareholding. Invalda LT will hold 52.05 percent of Invalda LT assets, equity and liabilities, calculated at their book values, 14.45 percent will go to INVL Baltic Farmland, 30.9 percent – INVL Baltic Real Estate and 2.6 percent to INVL Technology. At the end of 2013 stand-alone assets of Invalda LT amounted to LTL 174.6 million (EUR 50.6 million), equity - LTL 160 million (LTL 46.3 million).
Split-off is performed using book values, thus the new companies’ share price will be determined by the market.
The person authorized to provide additional information:
Darius Sulnis
President
Phone +370 5 279 0601
Email: darius@invaldalt.com