Invalda INVL group completes second tranche of acquisition of Šiaulių Bankas shares from the EBRD
May 31 2023 - 11:38AM
Invalda INVL group completes second tranche of acquisition of
Šiaulių Bankas shares from the EBRD
Invalda INVL indirectly acquired a further 11,733,728 units
(1.95%) of the shares of Šiaulių Bankas from the European Bank for
Reconstruction and Development (EBRD). Value of the transaction is
EUR 7.234 million. After this transaction the Invalda INVL group’s
stake in Šiaulių Bankas grew to 9.999%. Invalda INVL conducted this
second acquisition tranche, like the first one, through its wholly
owned subsidiary INVL Life.
Invalda INVL reminds that on 22 December 2021, it signed a Share
Purchase-Sale Agreement with the EBRD. The parties agreed that
Invalda INVL will directly and/or indirectly acquire from EBRD
35,240,296 shares of Šiaulių bankas by 31 May 2024 at the latest.
The shares will not be acquired all at once, but in instalments, in
separate tranches. The parties have agreed that the initial price
for Šiaulių bankas shares is EUR 0.633 per share and it will be
recalculated during every payment considering dividends paid or
other changes in capital by Šiaulių bankas, as well as 5% annual
interest calculated from the date of signing the agreement.
Invalda INVL did not yet need regulatory
approval for the second tranche of its acquisition of Šiaulių
Bankas shares from the EBRD, as the threshold of 10% of voting
rights has not been exceeded. However, considering the retail
business merger agreed with Šiaulių Bankas on 22 November 2022
(notice is published here) and the 9.39% of the bank's shares to be
obtained in that transaction, Invalda INVL’s stake in the bank will
rise to almost 20%. Thus, regulatory approval to hold more than
one-tenth of Šiaulių Bankas's shares will be required, and a
prefilling assessment procedure is currently underway.
This announcement of the second acquisition tranche is published
in the category "Notification on material event" in order to
maintain consistency in regulatory disclosures. The first notice on
the concluded contract with the EBRD is published here.
Person authorised to provide additional information:Darius
ŠulnisPresident of Invalda INVLE-mail darius.sulnis@invl.com
Invalda Invl Ab (LSE:0IJB)
Historical Stock Chart
From Apr 2024 to May 2024
Invalda Invl Ab (LSE:0IJB)
Historical Stock Chart
From May 2023 to May 2024
