Investments, Lithuania, Mergers and take-overs, Technology

BAIP Group, AB will take over all the rights and duties including the name of INVL Technology, and will continue operations under the new name of the public joint-stock company INVL Technology. The company's shares will be quoted on the NASDAQ Vilnius Stock Exchange after completion of the actions foreseen in the legal acts. It is estimated that the trading in companies shares will be available from March 2015.

Trading in INVL Technology shares (a company which ceased its activities) was suspended from 29 January 2015 (inclusively).

The initial capitalisation of the company operating after the merger reaches EUR 8.146 million. Recalculated price per share should reach EUR 1.33.

The authorised capital of INVL Technology is divided into 6,114,714 ordinary registered shares. The nominal value per share is EUR 0.29. The Board and manager of INVL Technology, AB has not changed. Kazimieras Tonkunas, a manager of a company, Gytis Umantas, Alvydas Banys, Vytautas Plunksnis and Nerijus Drobavicius continue operating as Members of the Board of the company.

Main shareholders of INVL Technology, AB are: Banys (5%) and LJB Investments, a company related to Banys, (20%), Irena Ona Miseikiene (19%), Kazimieras Tonkunas (13.7%), Invalda LT (8.2%) and Lucrum Investicija (5%).

The company has more than 3500 shareholders.

"The future step is to apply for closed end investment company licence issued from the Bank of Lithuania and to raise at least EUR 10 million for the purpose of investing into other technology companies," Kazimieras Tonkunas, manager of INVL Technology, said.