In view of the fact that Invalda INVL has established a 100% owned subsidiary INVL Life UAB for the provision of life insurance services, which is currently no longer in operation, as the life insurance business has been merged into Šiaulių bankas Group with effect from 1 December 2023, and with a view to simplifying the Group's operations, on 4 September Invalda INVL bought the following stakes from the company INVL Life:
- 1,873,678 units shares of INVL Technology, representing 15.39% of the share capital;
- A company Cedus Invest (100% of shares), through which Invalda INVL has invested in UAB Litagra;
- a part of the units of INVL Baltic Sea Growth Fund, a closed-end private equity investment fund for professional investors, and a capital commitment of EUR 7,621,959.71 (all called).
Total value of the transactions is EUR 44.6 million. The above shares and units were transferred to INVL Life at the beginning of 2022 as part of an increase in INVL Life's share capital. The securities remaining in the ownership of INVL Life will be purchased by Invalda INVL at a later date in order to fully complete the operation of this company.
As the transactions are made within the group, the fact that these investments have been bought and sold has no impact on Invalda INVL's financial results and, therefore, on the share price.
The person authorised to provide additional information:
Darius Šulnis
CEO of Invalda INVL
E-mail darius.sulnis@invl.com
