Regarding the proposal of INVL Baltic Real Estate to allocate dividends for the year 2023

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 2024, it is proposed to the shareholders of the Company to allocate a dividend of EUR 0.09 per share for the year 2023 (the total amount for dividends allocation would amount to EUR 0.726 million).

Furthermore, on 30 April 2024, the General Meeting of Shareholders of the Company is proposed to approve the main 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 for 2023. A vote on the payment of dividends will be held at the annual general meeting of the company’s shareholders on 30 April.

“Like every year, we are sticking to the company’s dividend policy of paying out at least EUR 0.09 per share and in that way sharing the profit that was earned with all shareholders,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.

In 2023, INVL Baltic Real Estate had a consolidated net profit of EUR 0.7 million and consolidated revenue of EUR 3.6 million. The value of the company’s investment property holdings was EUR 42.1 million at the end of 2023 and was 15% larger than a year earlier (when it was EUR 36.4 million).

INVL Baltic Real Estate’s shareholders meeting on 30 April is also being asked to vote on approving the acquisition of own-shares and the preparation of terms for a reorganization of the company to merge into it the entity, acquired last year, which owns the Pramogų Bankas facilities in Vilnius.

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.

“On getting shareholders’ approval, we would prepare the terms for a reorganization of INVL Baltic Real Estate. The purpose of the reorganization would be for the company to directly own the Pramogų Bankas real estate in Vilnius that was acquired in July 2023,” Vytautas Bakšinskas notes.

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 and the 55-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 85% to 100% at the end of 2023.

INVL Baltic Real Estate currently owns properties with a total area of 32,100 sq. m., the value of the real estate at the end of 2023 was EUR 42.1 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 fund 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 more than EUR 1 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 and Latvia, management of pension funds in Latvia, and investments in global third-party funds. Further information

The person authorized to provide additional information:
Real Estate Fund Manager of Management Company
Vytautas Bakšinskas