The maximum purchase price is 2.5 euros per share (0.5 million euros for all). Before the announcement of the share buyback, the share price of “INVL Technology” on the stock exchange was 2.28 euros.
Kazimieras Tonkūnas, the managing partner of INVL Technology, said that the price of the acquisition of shares on the stock exchange will be determined according to the Dutch auction principle – all shares will be bought at the lowest price determined by the stock exchange algorithm.
“The purpose of purchasing a part of own shares is to fulfill obligations related to stock option programs or other allocation of shares to employees of the company’s subsidiaries and/or to reduce the company’s authorized capital by canceling own purchased shares,” K. Tonkūnas stated in the report.
It is planned to allocate 0.5 million to purchase own shares. euros and to use part of the 9.8 million formed for this purpose back in 2015. euro reserve.
The shareholders approved the procedure for acquiring the company’s shares at the shareholders’ meeting held on April 30 of this year.
INVL Technology owns cyber security company NRD Cyber Security, GovTech company NRD Companies and Baltic IT company Novian.
In mid-March of this year, the company announced the signing of an agreement with the Zurich branch of the investment advisor Corum group, the Luxembourg-based company Corum Group International, regarding mediation in the sale of the portfolio of companies managed by INVL Technology.
INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltic States, is a closed-end investment company and its investments must be realized by mid-July 2026 at the latest, and the funds paid out to shareholders.
“INVL Technology” shares are quoted on the Exchange’s Additional Trading List.
