INVL Baltic Real Estate, the only real estate investment company listed in NASDAQ Vilnius stock exchange, is going to be merged with its 100 per cent managed Invaldos Nekilnojamojo Turto Fondas, where the main real estate business of the company is concentrated.
During the shareholders' meeting, which will be held on 30 April, the Board of the INVL Baltic Real Estate will be offered to prepare the Reorganisation Terms.
"The merge would simplify the structure of the group, as currently the main property of INVL Baltic Real Estate is the shares of Invaldos Nekilnojamojo Turto Fondas. Shares of the company, which will be operating in the market after the merge, will remain listed in NASDAQ Vilnius stock exchange", says INVL Baltic Real Estateā€s Director Andrius DaukÅ�as.
The shareholders of INVL Baltic Real Estate will also confirm the results of the activity of 2014. During the eight months of activity in 2014, INVL Baltic Real Estate made 0.43 million euros (1.5 million litas) net profit or 0.06 euro per share. During the corresponding period, the company generated 3.5 million euros (12.13 million litas) revenue, from which 1.7 million euros was raised from renting owned real estate objects.
INVL Baltic Real Estate has started its activity in the end of April 2014 as a spin-off from Invalda LT. Consolidated equity amounted to EUR 14.5 million (LTL 50 million) or EUR 2.06 per share at the end of 2014.
Group companies of INVL Baltic Real Estate have about 51 700 sq. m of the real estate in Vilnius and Riga. Total value of owned real estate assets amounts to EUR 33.8 million (LTL 116.87 million). Company's shares are listed on NASDAQ Vilnius stock exchange.The shares of the company are quoted in NASDAQ Vilnius stock exchange.
