Invalda INVL increases share capital of its subsidiary INVL Life and transfers part of shares to itThe Board of Invalda INVL has decided to increase the share capital of its subsidiary INVL Life, which is seeking an insurance company license, from EUR 7.5 million to EUR 48 million. The Board of Invalda INVL has decided to transfer the following shareholdings to INVL Life for a preliminary amount of EUR 36 million: - 1,889,123 shares, which makes up 23.43 percent of the authorized capital, of INVL Baltic Real Estate;
- 1,873,678 shares, which makes up 15.39 percent of the authorized capital, of INVL Technology;
- Cedus invest (100% of shares), through which Invalda INVL has invested in Litagra;
- part, equal to EUR 7,621,959.71 capital contributed, of the units of the private equity investment fund INVL Baltic Sea Growth Fund, a closed-end investment fund for professional investors, (outstanding capital commitment is not transferred).
As the above-mentioned shares and investment units are transferred to a 100% controlled company of Invalda INVL, the fact of the transfer of those investments does not affect the financial results of Invalda INVL and, at the same time, the share price. Person authorised to provide additional information:
Darius Šulnis
President of Invalda INVL
E-mail darius.sulnis@invl.com
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