The decision of the management company of INVL Baltic Real Estate on the purchase of own shares

The Management company INVL Asset Management, UAB of INVL Baltic Real Estate (hereinafter – the Company), taking into account that the Company has formed and not realised the reserve for the purchase of own shares which is equal to EUR 2.4 million and considering the resolution of the General Shareholders Meeting of the Company held on 30 April 2024, initiates the purchase of the Company‘s own ordinary registered EUR 1.45 nominal value shares. The acquisition will be implemented through the market of official offer of Nasdaq Vilnius stock exchange.

Purchase conditions:
Share purchase starts on 16 December 2024.
Share purchase ends on 20 December 2024.
Maximum number of shares to be acquired (units): 100,000 units.
Total maximum purchase price (EUR): EUR 270,000.
Maximum purchase price (EUR): EUR 2.70 per share.
Share purchase price (EUR): the price shall be determined according to Dutch auction principles, i.e. transaction shall be executed at single price.

Additional information:

The real estate investment company INVL Baltic Real Estate will seek to buy back more of its own shares via the Nasdaq Vilnius stock exchange.

The share buyback will take place 16-20 December. A maximum of 100,000 shares of INVL Baltic Real Estate will be acquired (or 1.2% of its authorized capital). The maximum purchase price is EUR 2.70 per share.

On 11 December, the price of INVL Baltic Real Estate’s shares on the stock exchange was EUR 2.46.

“We’re announcing another buyback of the company’s own shares and increasing the purchase price. In the last offer we did not acquire the full amount of shares we offered – most likely because the company’s shareholders put a higher value on the shares,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.

In a share buyback that took place 4-10 December this year, INVL Baltic Real Estate bought back 45,759 of its own shares, paying the previously established maximum price per share of EUR 2.50.

The real estate investment company currently has an unused reserve of EUR 2.4 million for acquiring its own shares. For the 16-20 December share buyback, it is planned to allocate EUR 270,000 from the reserve.

As the share buyback will be conducted on a Dutch auction basis, if demand is strong, the price may be lower. If more shares are offered than the company seeks to buy back, then under Dutch auction rules the 100,000 shares offered at the lowest price will be purchased, paying all sellers the same price set by the exchange's algorithm.

The decision to begin a buyback of INVL Baltic Real Estate was made by the management company INVL Asset Management, the leading alternative asset manager in the Baltics. The shareholders of INVL Baltic Real Estate authorized the company to purchase its own shares in late April 2024.

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 in the centre of Vilnius, and the 52-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 September 2024.

INVL Baltic Real Estate currently owns properties with a total area of 19,300 sq. m., the value of the real estate at the end of September 2024 was EUR 45.59 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 INVL Baltic Real Estate 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 or have under supervision more than EUR 1.6 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, Latvia and Estonia, 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