The shareholders of INVL Technology, a company that invests in information technology businesses, have approved the company’s amended Articles of Association and its management agreement with the company INVL Asset Management, which is one of the leading asset management companies in Lithuania.

INVL Technology is currently seeking a license to operate as a closed-end investment company (UTIB) from the Bank of Lithuania. Completion of the licensing process is expected in July.

Shareholders formed the audit committee of UTIB INVL Technology and approved as its members the current members of INVL Technology’s audit committee: Danutė Kadanaitė and Tomas Bubinas (independent).

The equity capital of INVL Technology as of 31 March 2016 was EUR 24.23 million, or EUR 1.99 per share.

INVL Technology operates as a cluster of IT businesses focused on sales to large corporate and public sector clients and active in four main areas: business climate improvement and e-governance, IT infrastructure, cyber security, and solutions for IT intensive industries.

At present, INVL Technology’s largest investments are in Lithuania, Norway and Estonia.

The company has invested in: Norway Registers Development AS with its subsidiaries NRD UAB, Etronika UAB, Norway Registers Development East Africa Ltd., Norway Registers Development Rwanda Ltd. and Infobank Uganda Ltd.; BAIP UAB with its subsidiary Acena UAB; NRD CS UAB; Algoritmu Sistemos UAB; and Andmevara AS with its subsidiary Andmevara SRL.