Regarding amendments to incorporation documents of INVL Baltic Real Estate, reduction of authorized capital and dividend allocation for the year 2024
Investment Committee of INVL Baltic Real Estate (hereinafter – the Company) acting on behalf of INVL Asset Management, the Management Company of INVL Baltic Real Estate (hereinafter- the Management Company), informs that during the upcoming Company‘s General Shareholders Meeting, to be held on 30 April 2025, it is proposed to the shareholders of the Company to allocate a dividend of EUR 0.09 per share for the year 2024 (the total amount for dividends allocation would amount to EUR 0.716 million).
The Company’s Investment Committee also proposes the General Shareholders Meeting of the Company to approve the reduction of the authorized capital of the Company in order to cancel 107,480 units of ordinary registered own shares acquired by INVL Baltic Real Estate during the buy-back of shares process.
In order to implement the reduction of the authorised capital and other amendments to the Articles of Association, Investment Committee of the Company, acting on behalf of the Management Company, has resolved to propose that the General Meeting of Shareholders to be held on 30 April 2025 approve the amendments of the Articles of Association of the Company and endorse the new wording thereof. The Articles of Association will be implemented following approval of the Bank of Lithuania.
Furthermore, it is proposed that the General Meeting of Shareholders on 30 April 2025 approve the key terms and conditions under which the repurchase of the Company’s own shares will be carried out.
Additional information:
The real estate investment company INVL Baltic Real Estate plans to pay its shareholders dividends of EUR 0.09 per share from the profit if earned last year, allocating a total of EUR 0.7 million to the dividends.
In addition to the dividend payment, a general meeting of the shareholders of INVL Baltic Real Estate on 30 April will also vote on acquisition of the company’s own shares, reduction of its share capital, and renewal of the composition of its Audit Committee.
“In line with its consistent dividend policy, like every year the company seeks to pay out dividends of at least EUR 0.09 per share, thus ensuring that the profits earned are shared with all shareholders,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.
The real estate investment company had a consolidated net profit of EUR 2.74 million last year, 3.9 times more than in 2023. The sale of a property holding in Latvia had a positive impact of EUR 1.7 million on the company’s operating result.
If the company’s shareholders approve, part of a reserve created for that purpose would be used to acquire own shares. The maximum purchase price per share would be INVL Baltic Real Estate’s last published net asset value per share, while the minimum purchase price would be EUR 1.45. It is proposed that a time limit of 18 months from the date of the shareholders’ decision be set for any buybacks. Later, to annul the acquired own shares, the company’s share capital would be reduced.
INVL Baltic Real Estate also foresees reducing its share capital from EUR 11.689 million to EUR 11.533 million by annulling 107,480 own shares that the company acquired during 2024.
Given that the term of the members of the company’s Audit Committee ends in 2025, it is proposed that shareholders elect three members to a new four-year term on the Audit Committee: Dangutė Pranckėnienė, Andrius Lenickas and Tomas Bubinas.
About INVL Baltic Real Estate
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, the Pramogų bankas in the centre of Vilnius, and the 52-ha of land in Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 75% to 91% at the end of December 2024.
INVL Baltic Real Estate currently owns properties with a total area of 19,300 sq. m., the value of the real estate at the end of December 2024 was EUR 42.6 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The INVL Baltic Real Estate operates as a closed-ended investment company which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.
About INVL Asset Management
INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.
We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or have under supervision more than EUR 1.6 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds. Further information www.invl.com/en/.
The person authorized to provide additional information:
Real Estate Fund Manager of Management Company
Vytautas Bakšinskas
E-mail vytautas.baksinskas@invl.com
