Articles of Association of UTIB INVL Technology registered

The Articles of Association of INVL Technology, a company that invests in information technology businesses, have been registered at the Lithuanian Register of Legal Entities. They establish the transformation of INVL Technology into a special closed-end private equity investment company.


INVL Technology will begin to operate as a closed-end investment company (UTIB) as soon as the Bank of Lithuania grants it a closed-end investment company license. On receiving this license, the management of INVL Technology will be assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltic countries.


With the registration of the new Articles of Association, the mandates of the board and the CEO of INVL Technology ceased. Kazimieras Tonkūnas, who until now was chairman of the board and CEO, will join the INVL Asset Management team. The former board members who jointly held 33.39 per cent of votes will now be considered to be acting separately.


The shares of INVL Technology will continue to be traded on the Nasdaq Vilnius exchange also after its transformation into a closed-end investment company.


INVL Technology’s largest shareholders are Alvydas Banys (5.08 per cent) and the company LJB Investments which he controls (19.91 per cent), Invalda INVL (15.66 per cent), Irena Ona Mišeikienė (12.04 per cent), Lietuvos Draudimas (7.47 per cent) and Kazimieras Tonkūnas (5.55 per cent).


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.



For more information, contact:

E-mail: [email protected]  

Tel. +370 610 345 77


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