The Company informs about the decision, which was taken on 17th August 2018, to declare the forecast of INVL Baltic Real Estate for the year 2018 (the forecast was publicly announced on 21st December 2017) as invalid.
The Company approved the forecast for the year ended 2018 (the “Forecast”) on 21 December 2017. The Forecast has been prepared on the basis not to predict changes in the fair value of investment properties. After new valuation of investment properties was made, the changes in the fair value of investment properties was stated as significant compared to the forecasted profit for the year ended 2018 (forecasted profit amounted to EUR 2.57 million, change in the fair value of investment properties is EUR 0.85 million) and the Forecast must be recalculated or declared as invalid. The Company has chosen not to recalculate the Forecast. Therefore, the Company declares the Forecast as invalid and the Company’s investor shall not rely on data of the Forecast before making investment decisions.
The person authorized to provide additional information:
Real Estate Fund Manager of the Management Company
Vytautas Bakšinskas
E-mail vytautas.baksinskas@invl.com
