INVL Baltic Real Estate : will buy back 100,431 shares for EUR 186 thousand

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.

Settlement with the shareholders who submitted buy-back orders and met the requirements stipulated in the company's share buy-back rules will be made on 11 November this year.
If the net asset value of the company on 30 September 2020 were calculated using the share buy-back liability computed according to the actual number of shares being obligatorily bought back, the net asset value would be EUR 28.14 million, or EUR 2.1567 per share.

The share buy-back process was carried out in keeping with the decision adopted by the company's general shareholders meeting on 9 April 2020 to make material changes to the company's incorporation documents and to change the provider of depository services. Shareholders of the company who opposed those changes or did not vote regarding them had the right to demand that the Company buy back the shares they held.

The share buy-back process took place from 7 July 2020 until 9 November 2020 (inclusive).

INVL Baltic Real Estate holds real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass. At the end of September this year, the company's properties had occupancy levels of between 69% and 100%.

INVL Baltic Real Estate's property holdings have a total area of 25,800 sq. m. and a value of EUR 23.5 million.

Since its inception (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-end investment company. Management of the company has been assumed by INVL Asset Management, one of Lithuania's leading asset management firms. The company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.