The board of INVL Baltic Farmland, a company that invests in agricultural land, is initiating a share buy-back. For the purchase of 2.1 per cent of the company’s own shares, a total of EUR 224,700 may be paid.
The offer being made is to buy a total of 70,000 shares of INVL Baltic Farmland for EUR 3.21 per share.
“The board decided to initiate the buy-back because the price of the company’s shares on the exchange was less than their true value. We don’t rule out conducting further such buy-backs in the future,” said Alvydas Banys, Chairman of the Board of INVL Baltic Farmland.
The share buy-back will be conducted from 25 April to 20 June. Those wishing to sell their shares should contact their chosen financial brokerage firm or bank.
This year INVL Baltic Farmland allocated dividends of EUR 217 thousand, or EUR 0.066 per share.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries manage 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers. The value of INVL Baltic Farmland’s equity capital at the end of 2015 was EUR 10.57 million, or EUR 3.21 per share.
