INVL Technology’s shareholders will vote on amending stock option terms

The shareholders of INVL Technology, a company that invests in IT businesses, will vote on amending stock option terms and conditions. INVL Technology’s companies have offered an options programme as an employee incentive measure since 2020.

An extraordinary general meeting of INVL Technology shareholders is planned on 6th February.

It is being proposed that shareholders vote to amend stock option terms and conditions approved at the shareholders meeting of 28 October 2021. It is proposed that employees of the INVL Technology subsidiary NRD CS be granted the right to acquire, free of charge or for a symbolic price of 1 euro, a maximum of 10% of that company’s shares (including shares for which option agreements were entered into before this decision was adopted). Employees of NRD Companies and Novian could also acquire, free of charge or for a symbolic price of 1 euro, a maximum of 10% of their companies’ shares.

At the company’s shareholders meeting held in October 2021, it was decided to authorise employees of owned businesses to acquire shares free of charge.

At the 6 February shareholders meeting, a vote is proposed on granting employees of FINtime the right to acquire up to 1% of the shares of INVL Technology free of charge or for a symbolic price of 1 euro.

“We believe that the option programme for employees of owned companies contributes significantly to growth of the companies’ value and shareholder return, and also improves employee engagement and asset protection,” says Kazimieras Tonkūnas, INVL Technology’s Managing Partner.

The shareholders of INVL Technology will also vote on whether to select PricewaterhouseCoopers to audit the company’s 2023 financial statements. Issues on the agenda of the meeting include making use of new amendments to the Law on Companies to eliminate the Supervisory Board at the company and to repeal the remuneration policy that applies to members of that board, envisaging, however, in a new version of the Articles of Association of INVL Technology, the possibility of forming an Advisory Committee for the company.

Also proposed is the repeal of a resolution of the 29 April 2021 meeting of INVL Technology shareholders to change the company’s provider of depository services from Šiaulių Bankas to SEB Bankas. Shareholders are asked to leave in force the depository services agreement that INVL Technology signed with SEB Bankas in May 2016 due to economically more advantageous terms that it contains.

INVL Technology owns the cybersecurity company NRD Cyber Security, the Novian software services and IT infrastructure group, and in the area of business climate improvement and e-governance, the NRD Companies businesses.

INVL Technology is a closed-end investment company listed on the secondary list of the Nasdaq Vilnius stock exchange (INC1L). It is owned by INVL Asset Management. INVL Technology’s investments will be realised by 14 July 2026, the funds will be paid out to shareholders and the fund will wind down.

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