INVL Technology - Notification on material event

Announcement about the intention to submit a voluntary tender offer for INVL Technology, AB shares

Vilnius, Lithuania, 2015-04-30 07:33 CEST (GLOBE NEWSWIRE) -- Public
joint-stock company INVL Technology received the announcement from public
joint-stock company Invalda LT about the intention to submit a voluntary tender
offer for INVL Technology, AB shares. Text of the announcement is provided
below: 

The General Shareholders Meeting of INVL Technology, AB (code 300893533,
address Gynėjų str. 16, Vilnius) that was held on 10 April 2015, adopted a
decision to reorganize the activity of the INVL Technology, AB so it would
operate as the closed-end investment company under the Law of the Republic of
Lithuania on Collective Investment Undertakings, and authorized the Board of
INVL Technology, AB to the actions below: 

1. To apply to the Bank of Lithuania for obtaining the license of the
closed-end investment company by INVL Technology, AB. 
2. To prepare the draft of the Articles of Association of the closed-end
investment company INVL Technology and the other required documents in order to
obtain the license of the closed-end investment company. 
3. To prepare the draft of the Management Agreement with INVL Asset Management,
UAB (company code 126263073) for transfer of management of the closed-end
investment company INVL Technology. 
4. To negotiate with the potential custodians (depositories) of the closed-end
investment company INVL Technology and prepare the draft of the contract with
the depository. The key condition of the agreement is that the expenses for
custody should not exceed 0.1 per cent of the annual net asset value of the
closed-end investment company INVL Technology. 
5. To perform other mandatory actions to obtain the closed-end investment
company license for the INVL Technology, AB. 

Seeking to ensure the right of INVL Technology, AB shareholders, who did not
vote or voted “against” the aforementioned decision to sell their shares,
shareholders, who voted “for” the decision to reorganize the activity of the
INVL Technology, AB so it would operate as the closed-end investment company
under the Law of the Republic of Lithuania on Collective Investment
Undertakings at the General Shareholders Meeting held on 10 April, 2015, within
one month from the General Shareholders Meeting will have to announce a
voluntary tender offer to purchase the rest of the ordinary registered shares
of the INVL Technology, AB. 

Taking into consideration the above stated and according to the 31 Art 7 par of
the Law on Securities of the Republic of Lithuania, INVL Technology, AB
shareholders, who voted “for” the decision to reorganize the activity of the
INVL Technology, AB so it would operate as the closed-end investment company
under the Law of the Republic of Lithuania on Collective Investment
Undertakings (there shareholders hold 5 700 680 ordinary registered shares of
the INVL Technology, AB, that consist 93,229 % of all issued shares and voting
rights), announce about the intention to submit a voluntary tender offer to
purchase 414 034 ordinary registered shares with EUR 0.29 (equivalent to 1 LTL)
value each of the INVL Technology, AB (code 300893533, address Gynėjų str. 16,
Vilnius), which ISIN code is LT0000128860, and that consist 6,771 % of all INVL
Technology, AB issued shares and grants 6,771 % of all voting rights. 

For the shares will be paid in cash paying 1,61 EUR (equivalent to 5,559 LTL)
per each share. 

According to the Agreement of 28 of April, 2015, Invalda LT, AB (code
121304349, address Šeimyniškių str. 1A, Vilnius, tel. +370 5 279 0601, e-mail
info@invaldalt.com) represents the shareholders, who submit a voluntary tender
offer, during submission and implementation of the voluntary tender offer
(including representation in submission of information regarding voluntary
tender offer). 




         The person authorized to provide additional information:
         Kazimieras Tonkūnas
         Director
         E-mail: k.tonkunas@invltechnology.lt