Today, 15 January, the board of INVL Asset Management approved the rules for a buy-back of INVL Baltic Real Estate shares and adopted a decision on the start of the share buy-back process. The share buy-back process will begin on 25 January and continue until 25 March (inclusive). The share buy-back price is the net asset value of INVL Baltic Real Estate on 30 November 2020, which was EUR 2.2103 per share.
The real estate investment company INVL Baltic Real Estate shall have the ability to buy-back its own shares. That and other decisions on amending the company’s Articles of Association were adopted at a general meeting of the company’s shareholders held today, 14 January.
Invalda INVL, one of the Baltic region’s leading asset management groups, during 2021 will conduct transactions in shares of INVL Technology, a company that invests in IT businesses, and the real estate investment company INVL Baltic Real Estate.
It is proposed that INVL Baltic Real Estate be authorised to buy-back its own shares. That and other decisions on amending the company’s Articles of Association are proposed for a general meeting of the company’s shareholders convened on 14 January 2021.
The real estate investment company INVL Baltic Real Estate has completed a 4-month share buy-back process in which the company will repurchase 100,431 of its shares from 6 shareholders for EUR 186 thousand, which constitutes 0.8% of the company’s authorized capital. The buy-back price per share was EUR 1.8526, which coincides with the NAV on 30 April 2020.
The real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first three quarters of this year was EUR 4.687 million or nearly 2.2 times the amount for the same period last year. The company’s consolidated equity at the end of September this year, including a share buy-back liability required by accounting standards, was EUR 23.6 million, or EUR 2.23 per share not being bought back.
The real estate investment company INVL Baltic Real Estate will be audited by PricewaterhouseCoopers. That decision was made by the company’s general meeting of shareholders on 27 October. An agreement was signed with PricewaterhouseCoopers on auditing the annual financial statements of INVL Baltic Real Estate for 2020, 2021 and 2022.
The real estate investment company INVL Baltic Real Estate sold the 7 200-square-metre part of the Vilnius Gates business centre that it owned for EUR 20 million. The company Tvarus Projektas which is owned by Eastnine Lithuania, acquired the property. The proceeds from the transaction may be used for the reduction of existing debt, for pay-outs to the shareholders of INVL Baltic Real Estate, and for possible new investments in real estate.
The real estate investment company INVL Baltic Real Estate has signed an agreement on the sale of the part of the Vilnius Gates business centre that it owns, which the company Tvarus Projektas, owned by Eastnine Lithuania, intends to acquire. Completion of the transaction is planned by the end of September.
The real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first half of this year was EUR 0.92 million, or 46% less than in the same period of 2019. The company’s consolidated equity at the end of June this year was EUR 24.6 million, or EUR 1.87 per share. Equity per share increased 27.4% compared to the end of the first half of 2019 also taking into account dividends that were paid out.
The real estate investment company INVL Baltic Real Estate’s management company, INVL Asset Management, has approved the procedure for a buy-back of shares. It will give shareholders who held its shares as of 2 April 2020 and did not participate in or did not approve the adoption of at least one of the decisions to increase INVL Baltic Real Estate’s maximum debt level and to change its depository an opportunity to sell their shares for the net asset value.
The real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first quarter of this year was EUR 0.4 million and increased 69.7% compared to the same period of 2019. The company’s consolidated equity at the end of March this year was EUR 44.4 million. Equity per share was EUR 3.38 and compared to the end of the first quarter of 2019 increased 30% (also taking into account dividends that were paid out).
The real estate investment company INVL Baltic Real Estate will pay out EUR 20.4 million of dividends. That decision was adopted at a meeting of the company’s shareholders today. It was also decided to increase the company’s maximum debt level to 80% of the value of its real estate and to change the provider of depository services to Šiaulių Bankas, thus reducing the service fees.
The real estate investment company INVL Baltic Real Estate, which recently sold the IBC Business Centre for EUR 33 million, plans to pay out EUR 20.4 million of dividends to shareholders. The proposal to pay dividends of EUR 1.55 per share was submitted to the shareholders meeting that will take place on 9 April by INVL Asset Management, which manages INVL Baltic Real Estate. Based on the company’s share price on 17 March 2020, the dividend yield is 55%.
The real estate investment company INVL Baltic Real Estate sold the IBC Business Centre in Vilnius for EUR 33 million; companies owned by the Lords LB Baltic Green Fund (V) investment fund acquired the property. Proceeds from the transaction will be used for pay-outs to shareholders of INVL Baltic Real Estate and to reduce loans.
The real estate investment company INVL Baltic Real Estate announced on 19 December 2019 that it was in negotiations with the closed-end investment fund for informed investors Lords LB Baltic Green Fund (V), managed by Lords LB Asset Management UAB, regarding the possible sale of the IBC Business Centre on A. Juozapavičiaus and Šeimyniškių streets in Vilnius which INVL Baltic Real Estate owns.
The real estate investment company INVL Baltic Real Estate gives notification that it is currently conducting negotiations regarding the sale of the IBC Business Centre to the Lords LB Baltic Green Fund (V) closed-end investment fund for informed investors.
One of Europe’s biggest coworking networks, Talent Garden, has come to Vilnius too. As the ‘Talent Garden Vilnius’ coworking space opened its doors in the Old Town this Thursday, 12 December, the Lithuanian capital became the network’s 20th city in Europe.
The real estate investment company INVL Baltic Real Estate had a consolidated net profit of EUR 2.1 million for the first three quarters of this year, or 3.76% less than in the same period of 2018. The company’s consolidated equity at the end of September was EUR 35.7 million, while its equity per share was EUR 2.72 and compared to the end of the third quarter last year increased 9.2% (also taking into account dividend payments that were made).
The real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first half of this year was EUR 1.7 million and compared to the same period last year decreased 10.5%. The company’s consolidated equity at the end of June was EUR 35.3 million, while equity per share was EUR 2.685 and compared to the end of June 2018 increased 8.7% (also taking dividend payments into account).
