Invalda AB - Notification on material event

Split-off of Invalda LT, AB is completed

Vilnius, Lithuania, 2014-04-29 15:04 CEST (GLOBE NEWSWIRE) -- Split-off of
Invalda LT, AB, one of the major Lithuanian investment companies, is completed.
Three newly established companies INVL Baltic Farmland, INVL Baltic Real Estate
and INVL Technology operate in the market. Shares of the newly established
companies are planned to be quoted on the NASDAQ OMX Vilnius Exchange in May. 

These new companies were registered in the Centre of Registers on Tuesday, 29
April 2014. 

INVL Baltic Farmland, which is going to invest into agricultural land, INVL
Baltic Real Estate, which will invest into real estate and INVL Technology,
which will invest into information technology companies, will apply for
closed-end investment company licenses and will be similar to closed-end funds. 

17 companies investing into agricultural land and loans granted to them were
transferred to INVL Baltic Farmland. Presently 17 companies altogether own
about 3 thousand hectare of land, the consolidated equity at the end of 2013
amounted to LTL 34.3 million (EUR9.9 million). 

Invaldos Nekilnojamojo Turto Fondas and Rovelija, loans granted to the company
Rovelija and assets in Latvia related to the real estate logistics project were
transferred to INVL Baltic Real Estate. Consolidated equity of INVL Baltic Real
Estate, would amount to LTL 44.2 million (EUR 12.8 million), assets - LTL 150.6
million (EUR 43.6 million), as of the end of 2013. 

80 percent of BAIP Group shares were transferred to INVL Technology. As it was
announced earlier, unaudited revenues of BAIP Group increased by 25% in 2013
and reached LTL 50.7 million (EUR 14.7 million). Meanwhile EBITDA (earnings
before interest, taxes, depreciation and amortization) increased by 63 percent
and reached LTL 4.4 million (EUR 1.3 million). 

Alvydas Banys, Indre Miseikyte and D. Sulnis, current Members of the Board of
Invalda LT, AB, were elected to the Boards of the three newly established
companies. D. Sulnis was appointed to hold a position of the manager of those
companies. “Composition of the management of the newly established companies is
identical to Invalda LT only for the transitional period - until the companies
will become closed-end investment companies. Their management later will be
passed to the qualified professionals of Invalda LT Investments, a company
owned by Invalda LT”, - Darius Sulnis, the president of Invalda LT, commented. 

Shareholders of Invalda LT will proportionally participate in the capital of
the new companies. It is calculated that the shareholder of Invalda LT, AB
owning 1000 shares, after the split - off will own 520 shares of Invalda LT,
145 shares of INVL Baltic Farmland, 309 shares of INVL Baltic Real Estate and
26 shares of INVL Technology. 

All newly established companies will apply for Lietuvos Bankas, regarding
listing in the NASDAQ OMX Vilnius stock exchange. As it was announced earlier,
the split - off is carried out according to book values, not market values,
therefore the market will have to set shares' prices of the new companies.
Asset valuations in the real estate and agricultural land companies are
fulfilled and INVL Technology could be estimated according to the cash flow
method. 

The authorised capital of Invalda LT, AB after the split - off amounts to LTL
11.866 million (EUR 3.44 million), INVL Baltic Real Estate - LTL 7.044 million
(EUR 2.04 million), INVL Baltic Farmland - LTL 3.294 million (EUR 0.954
million) and INVL Technology - LTL 592.7 thousand (EUR 171.6 thousand).
Presentations of the companies will be published until they start listing. 


         The person authorized to provide additional information:
         Darius Sulnis
         President
         Phone +370 5 279 0601
         Email: darius@invaldalt.com