Stock option terms amended for employees of INVL Technology companies

The shareholders of INVL Technology, a company that invests in IT businesses, approved on Monday amended stock option terms and conditions for employees of businesses it owns.

Employees of INVL Technology subsidiaries NRD CS, NRD Companies, and Novian now have a right to acquire, free of charge or for a symbolic price of 1 euro, a maximum of 10% of their company’s shares. The new conditions are the result of a revision of option terms introduced in 2021 under which shares could be acquired only at no cost and only in 2027.

Employees of the company FINtime are now able to acquire up to 1% of the shares of INVL Technology free of charge or for a symbolic price of 1 euro.

“INVL Technology’s companies have had options programmes as an employee incentive measure since 2020. One of the programmes is linked to employees’ personal annual targets, the other to long-term growth in the value of the companies and the creation of a return for shareholders,” says Kazimieras Tonkūnas, INVL Technology’s Managing Partner.

At the meeting of INVL Technology shareholders on 6 February 2023, PricewaterhouseCoopers was selected to audit the company’s 2023 financial statements. Shareholders also approved a proposal to make use of new amendments to the Law on Companies and eliminate the Supervisory Board at the company as well as the remuneration policy for the 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.

Additionally, shareholders approved a proposal to repeal a resolution of the 29 April 2021 meeting of INVL Technology shareholders to change the company’s provider of depository services, and 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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