INVL Baltic Farmland intends to buy-back 0.5% of own shares. The total amount of EUR 47.1 thousand can be paid for the shares. EUR 2.86 will be paid for one share.
The Board of INVL Baltic Farmland made the above mentioned decision on Monday. The Board took into account the fact that company’s share price is more than 5% lower than the company’s consolidated equity value per share (EUR 3.00).
“Initiating the buy-back of own shares we strive to achieve that INVL Baltic Farmland share market price reflects their fair value. Also we provide possibility for investors to sell their shares for the company”, – Darius Sulnis, the director of INVL Baltic Famland, said.
According to Mr. Sulnis, current share price is attractive and if there are willing to sell the shares, the equity value of the remaining shareholders increases.
The buy-back of shares will be implemented since 14 August till 30 September.
