Invalda INVL sells part of Šiaulių Bankas shares to long-term shareholders
25 Marzo 2024 - 8:00AM
UK Regulatory
Invalda INVL sells part of Šiaulių Bankas shares to long-term
shareholders
On 22 March 2024, Invalda INVL, the asset management group and
the largest shareholder of Šiaulių Bankas, announced a minor
reduction in its stake. The sale of 1.95 million shares,
representing approximately 0.29% of Šiaulių Bankas' share capital,
ensures Invalda INVL remains compliant with the 20% ownership
threshold set by the European Central Bank (ECB).
Part of the shares were acquired by Algirdas
Butkus, the founder of the bank (0.8 million or 0.12% of the share
capital). Gintaras Kateiva, a long-standing shareholder of the
Bank, acquired 0.143 million or 0.02 % of the share capital. Due to
the high liquidity of Šiaulių Bankas' shares, a significant part of
the shares was sold on the market on the short notice, while the
remaining part (0.5 million shares) will be sold in the near
future.
"The minor reduction of Invalda INVL stake was
planned in advance in order to comply with the thresholds set by
the ECB’s decision. The shareholder's position remains unchanged:
following the completion of the previously announced acquisition of
the European Bank for Reconstruction and Development's (EBRD's)
stake in the bank, Invalda INVL will become the bank's largest
shareholder with a stake of up to 20%.
It is equally important that a portion of the
shares were acquired by long-standing shareholders of the bank, who
demonstrate their confidence in the bank's business prospects and
new strategy," says Vytautas Sinius, CEO of Šiaulių
Bankas.
After the implementation of all the signed share
transfer agreements, the shareholding of Invalda INVL in Šiaulių
Bankas will reach almost 20%, the shareholding of Willgrow, the
manager of Girteka Logistics, will be 8.9%, EBRD will own 7.2%,
Tesonet Global will own 5.3%, A. Butkus will own 5%, G. Kateiva and
related parties will own 4.9%. The rest of Šiaulių Bankas shares is
held by institutional and retail investors.
Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt
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