Shareholders of INVL Baltic Real Estate approved dividends allocation for the year 2023
30 April 2024 - 7:46AM
UK Regulatory
Shareholders of INVL Baltic Real Estate approved dividends
allocation for the year 2023
The General Shareholders Meeting of INVL Baltic
Real Estate (hereinafter – “the Company”) held on
30 April 2024 decided to approve the proposed dividend allocation
of EUR 0.09 per share for the year 2023 (the total amount of
dividends allocation amounts to EUR 0.726 million).
The Company notes that dividends will be paid
out and the dividend payment procedure for 2023 will be published
within one month of the General Shareholders Meeting that approved
the decision to allocate the dividends. Persons, who will be
shareholders of the Company at the end of 15 May 2024,
the tenth day after the General Shareholders Meeting to approve the
resolution to allocate part of the Company’s profit for the payment
of dividends, are entitled to receive dividends.
The ex-date is 14 May 2024. From that date, the
new owner of the shares of INVL Baltic Real Estate, ISIN code
LT0000127151, which were acquired on the stock exchange with a
settlement cycle of T+2, is not entitled to dividends for the year
2023.
Furthermore, the General Meeting of Shareholders
of the Company approved 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 will pay its shareholders dividends of EUR 0.09 per
share for 2023. That decision was made at a general meeting of the
company’s shareholders on 30 April.
“The size of this year’s dividend payment to
shareholders equals the amount specified in the company’s dividend
policy. The policy envisages a dividend allocation of at least EUR
0.09 per share,” 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.
The meeting of INVL Baltic Real Estate
shareholders also approved 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.
For own share acquisitions, part of a reserve
formed for that purpose would be used. The maximum purchase price
per share would be INVL Baltic Real Estate’s last published net
asset value per share; the minimum price would be EUR 1.45. There
is a time limit for any buybacks of 18 months from the date of the
shareholders’ decision. Later the company’s share capital would be
reduced to annul the acquired own shares, but only if 100,000 or
more the company shares were purchased during the buyback
period.
Following the reorganization of INVL Baltic Real
Estate, the company would directly own the Pramogų Bankas real
estate which was acquired in July 2023.
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 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 www.invl.com/en/.
The person authorized to provide additional information:
Real Estate Fund Manager of Management Company
Vytautas Bakšinskas
E-mail vytautas.baksinskas@invl.com
Invl Baltic Real Estate Ab (LSE:0RAS)
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