Shareholders of INVL Technolgy approved the preparation of the reorganisation terms

Shareholders of INVL Technology, a company investing into IT businesses, approved the preparation of the reorganisation terms. According to these terms, INVL Technology will be merged to BAIP Group, a company managed by INVL Technology itself.

It is assumed that INVL Technology will be merged to the public joint stock BAIP Group and will operate in the market by the name of INVL Technology. The company will be quoted on NASDAQ Vilnius Stock Exchange. It is foreseen that Kazimieras Tonkunas, the present general manager of BAIP group, will become the manager of INVL Technology after the merger.

“This is a preliminary step towards the capital raising in 2015. Fresh capital will be invested in other technology companies,” – K. Tonkunas, said.

INVL Technology will aim to raise not less than EUR 10 million through a new share issue for the purpose of investing into other technology companies.

PricewaterhouseCoopers, UAB is elected to audit annual financial statements for the financial year 2014.  Danute Kadanaite and Tomas Bubinas (independent member) are elected to the Audit Committee of INVL Technology, AB.

The shares of INVL Technology, AB are listed on NASDAQ Vilnius secondary list since 4 June 2014.

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