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Invalda AB Announces Share Redemption Procedure


Thursday, 21 Mar 2013 03:38am EDT 

Invalda AB (IAB) announced that its Board, acting in accordance with part four of article 67 of the Law on Companies of the Republic of Lithuania and with the split terms announced on February 13, 2013, taking into account the fact that the shares during the split will be allocated to the shareholders not proportionally to their ownership in the authorized capital of IAB, and therefore the shareholders holding the shares the nominal value whereof is less than 1/10 of the authorized capital of IAB shall have within 45 days after the adoption of a decision on the split by the General Meeting of Shareholders (GMS) of IAB the to request that their shares be redeemed by IAB, has approved the share redemption procedure. The procedure will be implemented through the market of official order of NASDAQ OMX Vilnius Stock Exchange (VSE). The redemption price will be set in LTL and it will be equal to the weighted average price of transactions with IAB’s shares on VSE during the period of six months immediately preceding the GMS which has on its agenda the issue of adoption of the decision on the split and the decision on approval of the split terms. The exact share redemption price will be set and published on April 9, 2013. The share redemption will start on the next day after the GMS and last 45 days. The maximum number of shares to be redeemed is 5,180,214, 1/10 of the authorized capital. 

Company Quote

2.9
0.08 +2.84%
27 Aug 2014