Equity of INVL Baltic Farmland, a company investing into agricultural land, was equal to EUR 9.9 million (LTL 34.3 million) or EUR 3.02 per share at the end of 2014.
Currently having around 3 thousand hectares under management through subsidiaries, INVL Baltic Farmland has started its activities in the end of April, 2014 after a split-off from Invalda LT. Due to this fact, income and profit announced represent only eight months of activity. The result is EUR 90.7 thousand (LTL 313 thousand) of net profit.
“By limiting the opportunites for farmers to acquire more than 500 hectares of their own agricultural land, demand for leased farmland has increased in Lithuania – this will be reflected in the results of 2015”, – Darius Sulnis, director of INVL Baltic Farmland, said.
The Board of INVL Baltic Farmland, AB taking into account that INVL Baltic Farmland’s share price on NASDAQ OMX Vilnius stock exchange is more than 5 percent lower than the equity value per one share, initiated an buy-back of own ordinary registered shares from 29 January until 26 February. INVL Baltic Farmland will offer to buy-back 0.5 percent of own shares for the amount of EUR 2.86 per share. The total amount of EUR 47.1 thousand can be paid for the share buy-back.
“Initiating the buy-back of own shares we strive to achieve that INVL Baltic Farmland share market price reflects their fair value. We do not deny the possibility to carry out further share buy-backs in the future”, – D. Sulnis said.
INVL Baltic Farmland shares are not for those looking for speculative price increases, but instead for those who are willing to get higher return from rent increase compared to bank deposit and additionally profit from farmland value growth.
