Company investing into agriculture land INVL Baltic Farmland and listed in NASDAQ Vilnius Stock Exchange nominated a new director Egle Surpliene. E. Surplienė will replace Darius Sulnis, who will remain at the Board of INVL Baltic Farmland.
INVL Baltic Farmland and group companies also made land plot administration agreement with INVL Farmland Management, owned by one of the largest asset management groups in the Baltic region Invalda INVL. This agreement will be valid from 1 July 2015.
“The main task for E.Siurplenė is to supervise operations of asset administrator, this work should be done by shareholders representative”, – said Alvydas Banys, Chairman of the Board of INVL Baltic Farmland.
Egle Surpliene holds degree in economics-mathematics from Vilnius University. She is director of financial adviser company Gerovės Valdymas. Egle has worked in finance sector companies – Bank Finasta and Zabolis ir partneriai also in investment broker company Vilfima, she also was a member of Security Commission of Lithuania.
As it is stated in the administrative agreement, INVL Farmland Management management fees will be 7% of annual rent revenues and 0,5% market capitalization of INVL Baltic Farmland. Performance fee will be also payable to INVL Farmland Management from an annual hurdle rate of 5% plus inflation.
INVL Baltic Farmland has 100% in 17 companies owning more than 3 thousand hectares of agricultural land in Lithuania. More than 99% of land is rented to farmers and agricultural companies. INVL Baltic Farmland are listed on NASDAQ OMX Vilnius stock exchange.
