INVL Technology - Notification on material event

INVL Technology, AB has signed Shareholders‘ Agreement

Vilnius, Lithuania, 2014-11-27 08:01 CET (GLOBE NEWSWIRE) -- 26 November 2014
INVL Technology, AB and the following persons have signed the Shareholders'
Agreement: 
LJB Investments, UAB, Irena Ona Miseikiene, Lucrum Investicija, UAB, Invalda
LT, AB, Alvydas Banys, Darius Sulnis, Indre Miseikyte, the shareholders of INVL
Technology together managing 89.68% of the company, 
and
Kazimieras Tonkunas, Gytis Umantas, Arturas Milasauskas, Vida Juozapaviciene,
Marius Lescinskas, Rokas Ralys, Tomas Seikus, shareholders of BAIP Group,
together owning 20% of BAIP Group (INVL Technology owns the rest 80%). 

The Shareholders' Agreement states that:
1. INVL Technology and BAIP Group will merge. After the merger the company
(hereinafter - the New company) will continue its activities under the name
INVL Technology and its shares will further be listed on NASDAQ Vilnius stock
exchange; 
2. Until the merger BAIP Group will issue new shares for the total amount of
LTL 1.71 million (EUR 0.5 million). BAIP Group shareholders will acquire these
shares and increase owned block up to 34.3%; 
3. The New company will apply to the Bank of Lithuania for the closed-end
investment company licence. Once the licence is granted INVL Technology will be
managed by the asset management company controlled by Invalda LT; 
4. The New company will aim to raise not less than EUR 10 million (LTL 34.5
million) through a new share issue. The money will be used for investments into
new technology companies; 
5. The parties of the Shareholders' Agreement are obliged not to sell shares of
INVL Technology, BAIP Group and the New company until the capital raise (except
for the INVL Technology shares acquired by Invalda LT according to the
precedent trading plan and shares of the New company that may be sold by BAIP
Group shareholders for the total amount of LTL 684 thousand (EUR 198
thousand)); 
6. The Board of 5 members will be comprised in the New company until the issue
of the closed-end investment company licence. The Board will pass the key
decisions by unanimous vote. 


         The person authorized to provide additional information:
         Darius Sulnis
         Director of INVL Technology, AB
         Phone +370 5279 0601
         E-mail:Darius@InvaldaLT.com