Invalda INVL and its subsidiary INVL Life have concluded securities purchase and sale agreements

In view of the fact that Invalda INVL has established a 100% owned subsidiary INVL Life UAB for the provision of life insurance services, which is currently no longer in operation, as the life insurance business has been merged into Šiaulių bankas Group with effect from 1 December 2023, and with a view to simplifying the Group's operations, on 4 September Invalda INVL bought the following stakes from the company INVL Life: 1,873,678 units shares of INVL Technology, representing 15.39% of the...

Vilnius, 05/09/2024 (informazione.it - comunicati stampa - servizi)

In view of the fact that Invalda INVL has established a 100% owned subsidiary INVL Life UAB for the provision of life insurance services, which is currently no longer in operation, as the life insurance business has been merged into Šiaulių bankas Group with effect from 1 December 2023, and with a view to simplifying the Group's operations, on 4 September Invalda INVL bought the following stakes from the company INVL Life:

Total value of the transactions is EUR 44.6 million. The above shares and units were transferred to INVL Life at the beginning of 2022 as part of an increase in INVL Life's share capital. The securities remaining in the ownership of INVL Life will be purchased by Invalda INVL at a later date in order to fully complete the operation of this company.

As the transactions are made within the group, the fact that these investments have been bought and sold has no impact on Invalda INVL's financial results and, therefore, on the share price.

The person authorised to provide additional information:
Darius Šulnis
CEO of Invalda INVL
E-mail darius.sulnis@invl.com