INVL Technology - Notification on material event

Convocation of the Shareholders Meeting of INVL Technology and draft resolutions

Vilnius, Lithuania, 2015-03-19 07:54 CET (GLOBE NEWSWIRE) -- <span
style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">On the initiative and decision of the Management Board
of INVL Technology the General Shareholders Meeting of INVL Technology, AB
(identification code </span></span><span style="font-family:Arial, Helvetica,
sans-serif;">300893533</span><span style="font-family:Arial, Helvetica,
sans-serif;"><span style="font-size:11pt;">, the registered address Gyneju str.
16, Vilnius, Lithuania) is to be held on 10 April 2015 at 8:30 a.m. in the
office of INVL Technology (Gyneju str. 16, Vilnius, Lithuania). 
Registration of the shareholders will start at 8:00 a.m.
Only the persons who are the shareholders of the Company at the end of the
accounting day of the General Shareholders Meeting (3 April 2015) are entitled
to participate and to vote at the General Shareholders meeting.</span></span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">The agenda of the General Shareholders Meeting of INVL
Technology, AB includes:    </span></span><span style="font-family:Arial, Helvetica, sans-serif;">1)    </span><span
style="font-family:Arial, Helvetica, sans-serif;">An increase of the authorized
capital of </span><span style="font-family:Arial, Helvetica, sans-serif;">the
public joint-stock company INVL Technology. The class, the amount, the par
value, the minimal issue price and the payment for the issued shares.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">2)   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">The withdrawal of the pre-emptive right to acquire newly issued
ordinary registered shares of the public joint</span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">stock company
INVL Technology. </span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">3)   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">The changes of the</span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;"> Articles of
Association's and approval of the new edition of the </span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">public
joint</span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">4)   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">Regarding application for a license of the closed-end investment
company.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">5)   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">Regarding a tender offer to purchase the ordinary registered
shares of the public joint</span><span style="font-size:11pt;font-family:Arial,
Helvetica, sans-serif;">-</span><span style="font-size:11pt;font-family:Arial,
Helvetica, sans-serif;">stock company INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">The draft resolutions of the General Shareholders
meeting of INVL Technology: </span></span><span style="font-family:Arial, Helvetica, sans-serif;">1. An increase of the
authorized capital of the public joint-stock company INVL Technology. The class
of the issued shares, the amount, the par value, the minimal issue price and
the payment for the issued shares.</span><span style="font-family:Arial, Helvetica, sans-serif;">To increase the
authorized capital of the public joint</span><span style="font-family:Arial,
Helvetica, sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock  company INVL Technology with additional contributions from
EUR 1 773 267,06 to EUR 5 800 000 (the authorized capital will be increased by
EUR 4 026 732,94).</span><span style="font-family:Arial, Helvetica, sans-serif;">The authorized capital
of the public joint</span><span style="font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology will be increased by additionally
issuing 13 885 286 ordinary registered shares of EUR 0.29 par value
each.</span><span style="font-family:Arial, Helvetica, sans-serif;">The minimal issue price
of each newly issued share is EUR 1.56, payment for the shares - by cash
contributions.</span><span style="font-family:Arial, Helvetica, sans-serif;">The minimal issue price
of each newly issued share is EUR 1.56, which is set according to: </span><span style="font-family:Arial, Helvetica, sans-serif;">1)    </span><span
style="font-family:Arial, Helvetica, sans-serif;">At the end of 2014, according
to the unaudited data, companies managed by </span><span
style="font-family:Arial, Helvetica, sans-serif;">the public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL Technology
were valued at EUR 9.75 million and book value of the public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL Technology
per single ordinary registered share amounted to EUR 1.60;</span><span style="font-family:Arial, Helvetica, sans-serif;">2)    </span><span
style="font-family:Arial, Helvetica, sans-serif;">Starting from the moment when
the shares of the </span><span style="font-family:Arial, Helvetica,
sans-serif;">reorganised </span><span style="font-family:Arial, Helvetica,
sans-serif;">public joint</span><span style="font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock  company INVL Technology were included into NASDAQ Vilnius
trading lists (on 3 June, 2014) until 18 March, 2015, the weighted recalculated
average price of the share of the public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock companyINVL Technology,
continuing operations after the </span><span style="font-family:Arial,
Helvetica, sans-serif;">Reorganisation</span><span style="font-family:Arial,
Helvetica, sans-serif;">, amounted to EUR 1.47.</span><span style="font-family:Arial, Helvetica, sans-serif;">If not all the newly
issued shares are subscribed within the period intended for subscription, the
authorised capital of the Company will be increased by the total par value of
the subscribed shares. In this case, the Board of the </span><span
style="font-family:Arial, Helvetica, sans-serif;">public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL Technology
should change the authorized capital and the number of shares in the Articles
of Association of the Company accordingly and submit changed Articles of
Association to the Register of Legal Entities.</span><span style="font-family:Arial, Helvetica, sans-serif;">2. The withdrawal of
the pre-emptive right to acquire newly issued ordinary registered shares of the
public joint-stock company INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;">Taking into
consideration that newly issued shares of the public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL Technology
will be offered publicly according to the rules set by the Law of Securities of
the Republic of Lithuania, to withdraw the pre-emptive right of Company‘s
shareholders to acquire newly issued ordinary registered.</span><span style="font-family:Arial, Helvetica, sans-serif;font-size:11pt;">Rules of
subscription for the new shares and subscription period of the newly issued
shares will be specified in the publicly published Prospectus of the public
joint-stock company INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;">3. The changes of the
Articles of Association's and approval of the new edition of the public
joint-stock company INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;">According to the
decision part 1 of the General Shareholders Meeting and current issue of the
Law on Companies of the Republic of Lithuania No. VIII-1835 adopted on 13 July
2000, to approve the new edition of the Articles of Association (attached) of
the public joint</span><span style="font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology by changing the whole text of the
Statute.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">To
authorize Kazimieras Tonkunas, the director of </span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">the public
joint</span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology, to sign the new edition of the
Articles of Association.</span><span style="font-family:Arial, Helvetica, sans-serif;">4. Regarding the
application for a licence of the closed-end investment company</span><span style="font-family:Arial, Helvetica, sans-serif;">Seeking to ensure that
the shareholders of INVL Technology, who </span><span style="font-family:Arial,
Helvetica, sans-serif;">do not support the proposed resolution on this question
of the agenda, have the possibility to sell their shares, shareholders who will
vote “for” the resolutions on this item of the agenda, will have to announce a
tender offer to buy remaining shares of public-joint stock company INVL
Technology (one or several shareholders will have the right to fulfil this duty
for the other shareholders). </span><span style="font-family:Arial, Helvetica,
sans-serif;">To reorganize the activity of the </span><span
style="font-family:Arial, Helvetica, sans-serif;">public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL Technology
so it would operate as the closed-end investment company under the </span><span
style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:12pt;">Law of the Republic of Lithuania on Collective
Investment Undertakings</span></span><span style="font-family:Arial, Helvetica,
sans-serif;"><span style="font-size:9pt;">. </span></span><span
style="font-family:Arial, Helvetica, sans-serif;">To authorize the Board of</span><span style="font-family:Arial, Helvetica, sans-serif;">the </span><span
style="font-family:Arial, Helvetica, sans-serif;">public joint</span><span
style="font-family:Arial, Helvetica, sans-serif;">-</span><span
style="font-family:Arial, Helvetica, sans-serif;">stock company INVL
Technology: </span><span style="font-family:Arial, Helvetica, sans-serif;">1.    </span><span
style="font-family:Arial, Helvetica, sans-serif;">To apply to the Bank of
Lithuania for obtaining the license of the closed-end investment company by
INVL Technology</span><span style="font-family:Arial, Helvetica,
sans-serif;">.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">2.   </span><span style="font-size:11pt;font-family:Arial, Helvetica,sans-serif;">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.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">3.   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">To prepare the draft of the Management Agreement with Finasta
Asset Management, UAB (company code 126263073) for transfer of management of
the closed-end investment company INVL Technology.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">4.   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">To negotiate</span><span style="font-size:11pt;"></span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">with the
potential</span><span style="font-size:11pt;"></span><span
style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">custodians</span><span style="font-size:11pt;"></span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">(</span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">depositories)
of </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">the closed-end investment company INVL Technology </span><span
style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">and</span><span style="font-size:11pt;"></span><span
style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">prepare</span><span style="font-size:11pt;"></span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">the
draft</span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;"> of the </span><span style="font-size:11pt;font-family:Arial,
Helvetica, sans-serif;">contract with the depository</span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">. 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 </span><span
style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">closed-end
investment company INVL Technology.</span><span style="font-size:11pt;font-family:Arial, Helvetica, sans-serif;">5.   </span><span style="font-size:11pt;font-family:Arial, Helvetica,
sans-serif;">To perform other mandatory actions to obtain the closed-end
investment company license for the INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;">5. Regarding the tender
offer to purchase the ordinary registered shares of the public
joint</span><span style="font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology.</span><span style="font-family:Arial, Helvetica, sans-serif;">Seeking to ensure the
right of INVL Technology shareholders, who </span><span
style="font-family:Arial, Helvetica, sans-serif;">did not vote or voted
“against” the 4th item on the agenda to sell their shares, shareholders, who
voted “for” the resolutions of 4th item of the agenda 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 public
joint</span><span style="font-family:Arial, Helvetica,
sans-serif;">-</span><span style="font-family:Arial, Helvetica,
sans-serif;">stock company INVL Technology (one or several shareholders will
have the right to fulfil this duty for the other shareholders).</span><span style="font-family:Arial, Helvetica, sans-serif;font-size:11pt;">Only the
shareholders who did not vote or voted “against” the 4</span><sup
style="font-family: Arial, Helvetica, sans-serif;">th<span
style="font-family:Arial, Helvetica, sans-serif;font-size:11pt;"> item of the
agenda will have the right to sell their shares during the tender offer.</span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">The documents related to the agenda, draft resolutions
on every item of agenda, documents what have to be submitted to the General
Shareholders Meeting and other information related to realization of
shareholders rights are available at the office of INVL Technology (Gyneju str.
16, Vilnius) during working hours.</span></span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">The shareholders are entitled: (i) to propose to
supplement the agenda of the General Shareholders Meeting submitting draft
resolution on every additional item of agenda or, than there is no need to make
a decision - explanation of the shareholder (this right is granted
toshareholders who hold shares carrying at least 1/20 of all the votes).
Proposal to supplement the agenda is submitted in writing by registered mail or
delivered in person against signature. The agenda is supplemented if the
proposal is received no later than 14 before the General Shareholders Meeting;
(ii) to propose draft resolutions on the issues already included or to be
included in the agenda of the General Shareholders Meeting at any time prior to
the date of the General Shareholders meeting (in writing, by registered mail or
delivered in person against signature) or in writing during the General
Shareholders Meeting (this right is granted toshareholders who hold shares
carrying at least 1/20 of all the votes); (iii) to submit questions to the
Company related to the issues of agenda of the General Shareholders Meeting in
advance but no later than 3 business days prior to the General Shareholders
Meeting in writing by registered mail or delivered in person against signature. 
Shareholder participating at the General Shareholders Meeting and having the
right to vote must submit documents confirming personal identity. Each
shareholder may authorize either a natural or a legal person to participate and
to vote on the shareholder's behalf at the General Shareholders Meeting. The
representative has the same rights as his represented shareholder at the
General Shareholders Meeting. The authorized persons must have documents
confirming their personal identity and power of attorney approved in the manner
specified by law which must be submitted to the Company no later than before
the commencement of registration for the General Shareholders Meeting.
Shareholder is entitled to issue power of attorney by means of electronic
communications for legal or natural persons to participate and to vote on its
behalf at the General Shareholders Meeting. The shareholders must inform the
Company about power of attorney issued by means of electronic communications no
later than before the commencement of registration for the General Shareholders
Meeting. The power of attorney issued by means of electronic communications and
notice about it must be written and submitted to the Company by means of
electronic communications. 
Shareholder or its representative may vote in writing by filling general voting
bulletin, in such a case the requirement to deliver a personal identity
document does not apply. The form of general voting bulletin is presented at
the Company's webpage. If shareholder requests, the Company shall send the
general voting bulletin to the requesting shareholder by registered mail or
shall deliver it in person against signature no later than 10 days prior to the
General Shareholders Meeting free of charge. The filled general voting bulletin
must be signed by the shareholder or its authorized representative. Document
confirming the right to vote must be added to the general voting bulletin if
authorized person is voting. The filled general voting bulletin must be
delivered to INVL Technology, AB by registered mail (address Gyneju str.16,
LT01109 Vilnius, Lithuania) or in person against signature no later than before
the day of the General Shareholders Meeting. 
The Company does not provide opportunities to participate and vote at the
meeting by electronic means. Information related with the convened General
Shareholders Meeting (notice on convocation of General Shareholders Meeting,
information about Company's shares, draft resolution, etc.) are available at
Company's webpage </span></span><span style="font-family:Arial, Helvetica,
sans-serif;">www.invltechnology.lt</span>


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

Attachments:

Articles of Association of INVL Technology.pdf

General voting bulletin_INVL Technology.pdf

Notification of the Board of INVL Technology.pdf