Invalda INVL — Interim / Quarterly Report 2013

Nov 29, 2013

Invalida LT, AB Consolidated Interim Report for 9 months of 2013

Prepared in accordance with The Rules for the Preparation and the Submission of the Periodic and Additional Information, approved by the decision No. 03-48 of the Board of the Bank of Lithuania passed on 28 February 2013

Approved by the Board of Invalida LT, AB on 29 November 2013

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Translation note:

This version of the Annual Report is a translation from the original, which was prepared in Lithuanian language. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version takes precedence over this translation.

CONTENTS

I. GENERAL INFORMATION ...3
1. Reporting period for which the report is prepared ...3
2. General information about the Issuer and other companies comprising the Issuer's group ...3
2.1. Information about the Issuer ...3
2.2. Information about the Issuer's group of companies ...3
3. Agreements with intermediaries on public trading in securities ...5
4. The order of amendment of Issuer's Articles of Association ...5

II. INFORMATION ABOUT SECURITIES ...5
5. Information about Issuer's authorised capital ...5
6. Information about the Issuer's treasury shares ...6
7. Shareholders ...6
8. Trading of Issuer's and Issuer's group companies securities as well as securities, which are deemed to be a significant financial investment to the Issuer on a regulated market ...9
8.1. Trading in securities of the Issuer ...9
8.2. Trading Issuer's group companies securities as well as securities, which are deemed to be a significant financial investment to the Issuer ...10
9. Issuer's Managing Bodies ...11
9.1. Information about Issuer's Members of the Board, the President and CFO ...11
9.2. Information about the Audit Committee of the Company ...13
10. Information on the amounts calculated by the Issuer, other assets transferred and guarantees granted to the Members of the Board, the president and CFO ...14

IV. INFORMATION ABOUT THE ISSUER'S AND ITS GROUP COMPANIES' ACTIVITY ...15
11. Overview of the Issuer's and its group activity ...15
11.1. Operational environment ...15
11.2. Significant Issuer's and its group events during the reporting period and since the end of it ...15
Furniture manufacturing sector ...17
Real estate sector ...18
Agricultural sector ...19
IT Sector 19
Facility management sector ...20
11.3. Issuer's and its group companies' performance results ...21
12. A description of the principal risks and uncertainties ...22
13. Significant investments made during the reporting period ...22
14. Issuer's and its group activity plans and forecasts ...22
15. Information on the related parties' transactions ...22

APPENDIX 1. INFORMATION ABOUT GROUP COMPANIES, THEIR CONTACT DETAILS ...23

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I. GENERAL INFORMATION

1. Reporting period for which the report is prepared

The report is prepared for 9 months of 2013 (January – September).

2. General information about the Issuer and other companies comprising the Issuer's group

2.1. Information about the Issuer

Name of the Issuer	Public company Invalda LT, hereinafter Invalda LT, AB
Code	121304349
Adress	Seimyniskiu str. 1A, LT-09312 Vilnius, Lithuania
Telephone	+370 5 279 0601
Fax	+370 5 279 0530
E-mail	info@invaldalt.com
Website	www.invaldalt.com
Legal form	public limited liability company
Date and place of registration	20 March 1992, Register of Enterprise of Vilnius
Register, in which data about the Company are accumulated and stored	Register of Legal Entities

Invalda LT, AB is one of the largest Lithuanian investment companies whose primary objective is to steadily increase the investor equity value. For the purpose of attainment of this objective Invalda LT, AB actively manages its investments, exercising control or significant influence over target businesses.

Invalda LT, AB started the activity in 1991 as the Company Invalda, AB. Its equities have been traded on the NASDAQ OMX Vilnius Exchange since 1995. Currently, a major part of Invalda LT Group assets is concentrated in Lithuania.

In respect of each business Invalda LT, AB defines its performance objectives, sets up the management team, participates in the development of the business strategy and monitors its implementation. The Board of the Company plays an active role in passing decisions on strategic and other important issues that have an effect upon the value of the group companies.

2.2. Information about the Issuer's group of companies

The main sectors of Invalda LT, AB are the following: furniture manufacturing, real estate, agriculture, information technology (IT) infrastructure and facility management.

Group's companies and their contacts are presented in the Appendix 1 of this report.

Fig. 2.2.1. The main sectors of Invalda LT, AB group as of 30 September 2013

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SIMPLIFIED MANAGEMENT STRUCTURE

If not stated otherwise, Invalda LT, AB owns 100% in the companies

Picture 2.2.2. Simplified structure of Invalda LT, AB group as of 30 September 2013

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3. Agreements with intermediaries on public trading in securities

Invalida LT, AB has signed agreements with these intermediaries:

• Finasta, AB FMI (Maironio str. 11, Vilnius, Lithuania, tel. +370 5 278 6833) – the agreement on investment services, the agreement on management of securities accounting, the agreement on payment of dividends;
• Bank Finasta, AB (Maironio str. 11, Vilnius, tel. +370 5 203 2233) – the agreement on management of securities account, the agreement on investment services;
• Siauliu Bankas, AB (Tilzes str. 149, Siauliai, Lithuania, tel. +370 41 595 607) – the agreement on management of securities account and intermediation;
• DnB Bankas, AB (J. Basanaviciaus str. 26, Vilnius, Lithuania, tel. +370 5 239 3503) – the agreement on financial instruments account management, implementation of orders and offering recommendations;
• SEB Bankas, AB (Gedimino ave. 12, Vilnius, Lithuania, tel. +370 5 268 2370) – the agreement on securities accounting;
• Medicinos Bankas, UAB (Pamenkalnio str. 40, Vilnius, Lithuania, tel. +370 5 264 4845) - the agreement on management of securities account;
• Danske Bank A/S, Lithuania branch (Saltoniskiu str. 2, Vilnius, Lithuania, tel. +370 5 521 6666) - the agreement on investment services;
• FMI Orion Securities, UAB (A. Tumeno str. 4, block B, Vilnius, Lithuania, tel. +370 5 231 3841) - the agreement on investment services;
• Dom Maklerski BZ WBK S.A. (Pl. Wolnosci str. 15, 60-967 Poznan, Poland, tel. +48 61 856 48 80) – the agreement of intermediation;
• AB SEB Pank (Tornimae str. 2, 15010 Tallin, Estonia, tel. +372 6657 772) - the agreement of intermediation.

4. The order of amendment of Issuer's Articles of Association

The Articles of Association of Invalida LT, AB may be amended by resolution of the General Shareholders' Meeting, passed by more than 2/3 of votes (except in cases provided for by the Law on Companies of the Republic of Lithuania).

During the reporting period the Company's Articles of Association were amended once:

The amended Articles of Association of the public joint-stock company Invalida were registered with the Register of Legal Entities on 31 May 2013. The Articles of Association were amended due to split-off of the Company and stated a new name of the Company – public joint-stock company Invalida LT as well as a reduced authorized capital due (for more information please check paragraph 11).

Actual wording of the Articles of Association is dated as of 31 May 2013. The document has been published on the Company's website.

II. INFORMATION ABOUT SECURITIES

5. Information about Issuer's authorised capital

Table 5.1. Structure of Invalida LT, AB authorised capital as of 30 September 2013

Type of shares	Number of shares, units	Total voting rights granted by the issued shares, units	Nominal value, LTL	Total nominal value, LTL	Portion of the authorised capital, %
Ordinary registered shares	24,833,551	24,833,551	1	24.833.551	100

Table 5.2. Structure of Invalida LT, AB authorised capital as from 10 October 2013

Type of shares	Number of shares, units	Total voting rights granted by the issued shares, units	Nominal value, LTL	Total nominal value, LTL	Portion of the authorised capital, %
Ordinary registered shares	24,833,551	22,990,998	1	24.833.551	100

All shares are fully paid-up and no restrictions apply on their transfer.

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6. Information about the Issuer's treasury shares

Since the beginning of the year 2013 the Company implemented share acquisition process three times:

1. On 8 March 2013 former Invalda AB acquired 10 percent of its treasury shares at the total price of LTL 42.928 million (EUR 12.433 million). The share buy-back started on 19 February and lasted until 5 March. It was implemented through the market of the official offer of NASDAQ OMX Vilnius AB. Share acquisition price – LTL 8.287 (EUR 2.4) per share.

2. Invalda AB carried out the implementation of the share redemption procedure on 10 April – 24 May 2013 after the resolution on Company's split-off and split-off terms was issued by the General Meeting of Shareholders on 9 April 2013. 2.1 percent of the company's shares were acquired during the above mentioned period for the total amount of LTL 8.878 million (EUR 2.571 million). Share acquisition price - LTL 8.076 (EUR 2.339).

All the above mentioned redeemed shares were annulled on the basis of the split-off terms due to reduction of the authorised capital of Invalda, AB.

1. On 30 August 2013 the General Shareholders Meeting, having considered that Invalda LT, AB had allocated a reserve of LTL 92.5 million (EUR 26.8 million) to acquire own shares, authorised the Board to adopt the resolution on the acquisition of Invalda LT, AB shares through the market of official offer of NASDAQ OMX Vilnius AB in accordance with conditions statei below. The nominal value of the treasury shares acquired could not exceed 1/10 of the Company's share capital. The period during which the Company caould acquire its treasury shares – 12 months from the day of the resolution. The maximum share acquisition price – EUR 3.50 (LTL 12.08), minimum share acquisition price – EUR 2,50 (LTL 8,63).

Invalda LT, AB acquired 7.42 percent of own shares in the performance of own shares shares buy-back procedure on 10 October 2013. The total amount of EUR 5.343 million (LTL 18.45 million) was paid. Invalda LT, AB could purchase up to 2 million units of shares. During the share buy-back procedure it was offered to buy 1,842,553 units of shares. Share buy-back procedure started from 24 September and was implemented through the market of official tender offers of NASDAQ OMX Vilnius stock exchange until 7 October. The price paid for the investors was EUR 2.9 (LTL 10.013) per share. The acquired 1,842,553 units of shares were settled in euros on 10 October.

Given the fact that the treasury shares do not grant voting rights, the total amount of voting rights in Invalda LT, AB (ISIN LT0000102279) equals to 22,990,998 units.

7. Shareholders

The Shareholders of Invalda LT, AB Alvydas Banys, LJB Investments, UAB, Irena Ona Miseikiene, Indre Miseikyte, Greta Miseikyte-Myers, Darius Sulnis, Lucrum investicija, UAB, Ilona Sulniene and Tatjana Sulniene signed the agreement on the implementation of a long-term corporate governance policy. Therefore, they had the responsibility to issue the official Tender Offer to buy up all the remaining shares. No shares of Invalda LT, AB were provided for sale during the tender offer implementation period (from July 2, 2013 till July 15, 2013), i.e. the acquiring persons named in the tender offer circular did not acquire any shares of Invalda LT, AB. At the end of the reporting period Ilona Sulniene and Tatjana Sulniene were no longer parties of the above mentioned agreement, so their voices are not countable together with the other shareholders.

Due to the share acquisition process (for more information please check paragraph 6) owned part of the authorised capital and/or votes had changed since the end of the reporting period till the release of this report. Therefore, we present two tables of the largest shareholders.

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Table 7.1. Shareholders who held title to more than 5% of Invalda LT, AB authorised capital and/or votes as of 30 September 2013

Name of the shareholder or Company	Number of shares held by the right of ownership, units	Share of the authorised capital held, %	Share of the votes, %
			Share of votes given by the shares held by the right of ownership, %	Indirectly held votes, %	Total (together with the persons acting in concert), %
LJB Investments, UAB code 300822575, P. Smuglevičiaus str. 20, Vilnius	7,563,974	30.46	30.46	56.53	86.99
Irena Ona Miseikiene	7,127,232	28.70	25.04	61.95
Darius Sulnis	2,219,762	8.94	8.94	78.05
Lucrum Investicija, UAB code 300806471, Seimyniškių str. 3, Vilnius	2,031,321	8.18	8.18	78.71
Alvydas Banys	1,750,000	7.05	0	86.99
Indre Miseikyte	455,075	1.83	0	86.99
Greta Miseikyte-Myers	455,075	1.83	0	86.99

Fig. 7.1. Votes as of 30 September 2013

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Table 7.2. Shareholders who held title to more than 5% of Invalda LT, AB authorised capital and/or votes as from 10 October 2013

Name of the shareholder or Company	Number of shares held by the right of ownership, units	Share of the authorised capital held, %	Share of the votes, %
			Share of votes given by the shares held by the right of ownership, %	Indirectly held voices, %	Total (together with the persons acting in concert), %
LJB Investments, UAB, code 300822575, A. Juozapavičiaus str. 9A, Vilnius	6,939,824	27.95	30.19	57.25	87.44
Irena Ona Miseikiene	6,588,732	26.53	24.70	62.74
Darius Sulnis	2,219,762	8.94	9.65	77.78
Lucrum Investicija, UAB, code 300806471, Šeimyniškių str. 3, Vilnius	1,693,971	6.82	7.37	80.07
Alvydas Banys	1,750,000	7.05	0	87.44
Indre Miseikyte	455,075	1.83	0	87.44
Greta Miseikyte-Myers	455,075	1.83	0	87.44

Fig. 7.2. Votes as from 10 October 2013

There are no shareholders entitled to special rights of control.

Invalda LT, AB has no knowledge of any restriction on voting rights or mutual agreements between the shareholders, that might result in the restriction of shares transfer and (or) voting rights. There are no agreements to which the Issuer is a party and which would come into effect of being amended or terminated in case of change in the Issuer's control in the third quarter of 2013. As of 30 September 2013 the total number of shareholders was over 4000.

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8. Trading of Issuer's and Issuer's group companies securities as well as securities, which are deemed to be a significant financial investment to the Issuer on a regulated market

8.1. Trading in securities of the Issuer

Table 8.1.1. Main characteristics of Invalda LT, AB shares admitted to trading

ISIN code	LT0000102279
Name	IVL1L
Exchange	NASDAQ OMX Vilnius
List	Baltic Main List (1 January 2008)
Listing date	19 December 1995
Shares issued, units	24,833,551
Shares with voting rights as from 10 October 2015, units	22,990,998
Nominal value, LTL	1
Total nominal value, LTL	24,833,551

Company uses no services of liquidity providers.

Table 8.1.2. Trading in Invalda LT, AB shares

	9 months of 2011	9 months of 2012	9 months of 2013
Share price, EUR
- open	2.000	1.930	1.970
- high	2.650	2.940	2.950
- low	1.750	1.870	1.960
- last	1.947	2.370	2.830
Turnover, units	3,450,286	1,891,746	2,086,971
Turnover, EUR	7,176,682	4,597,133	4,798,901
Traded volume, units	7,392	4,261	3,611
Shares, units	51,659,758	51,802,146	24,833,551
Capitalisation, mln. EUR	100.582	122.771	70.279

Fig. 8.1.1. Turnover of Invalda LT, AB shares, change of share price and indexes

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8.2. Trading Issuer's group companies securities as well as securities, which are deemed to be a significant financial investment to the Issuer

Shares of Invalda AB group company Vilniaus Baldai, AB are admitted to trading in NASDAQ OMX Vilnius Main List.

8.2.1. Trading in shares of Vilniaus Baldai, AB

Table 8.2.1.1. Main characteristics of Vilniaus Baldai, AB shares admitted to trading

ISIN code	LT0000104267
Name	VBL1L
Exchange	NASDAQ OMX Vilnius
List	Baltic Main List
Listing date	5 June 2000
Share issue, units	3,886,267
Nominal value, LTL	4
Total nominal value, LTL	15,545,068

Table 8.2.1.2. Trading in Vilniaus Baldai, AB shares

	9 months of 2011	9 months of 2012	9 months of 2013
Share price, EUR
- open	9.401	10.300	14.500
- high	13.000	14.900	16.900
- low	7.800	10.300	13.500
- last	9.400	12.100	14.500
Turnover, units	96,171	67,798	97,066
Turnover, EUR	972,005	891,546	1,497,886.35
Traded volume, units	1,024	984	1,329
Capitalization, mln. EUR	36.531	47.024	56.351

Fig. 8.2.1.1. Turnover and share price of Vilniaus Baldai, AB

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9. Issuer's Managing Bodies

9.1. Information about Issuer's Members of the Board, the President and CFO

The governing bodies of Invalda LT, AB are: the General Shareholders' Meeting, sole governing body – the President, and a collegial governing body – the Board. The Supervisory Board is not formed.

Alvydas Banys – Chairman of the Board

The term of office	From 2013 until 2016
Educational background and qualifications	Vilnius Gediminas Technical University, Faculty of Civil Engineering, Junior Scientific co-worker, Economic's Institute of Lithuania's Science Academy.
Work experience	Since 1 July 2013 Invalda LT, AB - Advisor
Since 2007 LJB Investments, UAB - Director
Since 2007 JLB Property, UAB - Director
1996 - 2006 Invalda, AB - Vice President
1996 - 2007 Nenuorama, UAB - President
Owned amount of shares in Invalda LT, AB on 30 September 2013	1,750,000 units of shares. Share of authorised capital – 7.05 percent (shares acquired by the repurchase agreement without the voting right). Total (together with the persons acting in concert) – 86.99 percent.
Owned amount of shares in Invalda LT, AB as from 10 October 2013	1,750,000 units of shares. Share of authorised capital – 7.05 percent (shares acquired by the repurchase agreement without the voting right). Total (together with the persons acting in concert) – 87.44 percent.
Participation in other companies	Cedus Invest, UAB – Member of the Board
BAIP Grupe, UAB – Member of the Board
Owned shares and votes of other companies	LJB Investments, UAB – 99.99 percent.
LJB Property, UAB – 62.84 percent.
Gulbinu Turizmas, UAB – 7.7 percent.

Indre Miseikyte – Member of the Board

The term of office	From 2013 until 2016
Educational background and qualifications	Vilnius Gedimino Technical University, Faculty of Architecture.
Work experience	Since May 2012 Invalda LT, AB - Advisor
Since 2002 Inreal Valdymas, UAB - Architect
2000 – 2002 Gildeta, UAB - Architect

continued on the next page

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the beginning of the table is on the previous page

| Work experience | 1996 – 2002 Invalda, AB - Architect
1996 – 1997 Gildeta, UAB - Architect
1996 – 1997 Kremi, UAB - Architect
1994 – 1996 Vilniaus Baldai, AB - Architect |
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| Owned amount of shares in Invalda LT, AB on 30 September 2013 | 455,075 units of shares. Share of authorised capital – 1.83 percent (shares acquired by the repurchase agreement without the voting right). Total (together with the persons acting in concert) – 86.99 percent. |
| Owned amount of shares in Invalda LT, AB as from 10 October 2013 | 455,075 units of shares. Share of authorised capital – 1.83 percent (shares acquired by the repurchase agreement without the voting right). Total (together with the persons acting in concert) – 87.44 percent. |
| Participation in other companies | Invalda Privatus Kapitalas, AB – Member of the Board |
| Owned shares and votes of other companies | - |

Darius Sulnis – Member of the Board, the President

The term of office in the Board	From 2013 until 2016
Educational background and qualifications	Duke University (USA), Business Administration (Global Executive MBA).
Vilnius University, Faculty of Economics.
Financial broker's license (general) No. A109.
Work experience	2006 – 2011 Invalda, AB - President. Re-elected as the President of the Company on March 2013.
2002 – 2006 Invalda Nekilnojamojo Turto Valdymas, UAB - Director,
1994 – 2002 FBC Finasta, AB - Director,
Owned amount of shares in Invalda LT, AB on 30 September 2013	2,219,762 units of shares. Share of authorised capital and share of votes given by the shares held by the right of ownership – 8.94 percent. Total (together with the persons acting in concert) – 86.99 percent.
Owned amount of shares in Invalda LT, AB as from 10 October 2013	2,219,762 units of shares. Share of authorised capital – 8.94 percent, share of votes given by the shares held by the right of ownership – 9.65 percent. Total (together with the persons acting in concert) — 87.44 percent.
Participation in other companies	Vilniaus Baldai, AB – Member of the Board
Burusala, SIA – Chairman of the Supervisory Board
DOMMO, SIA – Chairman of the Supervisory Board
Invalidos Nekilnojamo Turto Fondas, AB – Member of the Board
Litagra, UAB – Member of the Board
BAIP Grupe, UAB – Member of the Board
Inservis, UAB – Member of the Board
Kelio Zenklai – Member of the Board
Owned shares and votes of other companies	Lucrum investicija, UAB - 100 percent.
Golfas, UAB - 31 percent.

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Raimondas Rajeckas - CFO

Educational background and qualifications	Vilnius University, Faculty of Economics.
Work experience	Since 2006 Invalida LT, AB – CFO
2001-2006 Valmeda, AB – CFO
2000-2001 Galincius, AB – CFO
2000-2001 Invaldos Marketingas, UAB (current name Inreal Valdymas, UAB) – CFO
2000-2002 Gildeta, AB – Accountant
1998-2000 Invalida, AB - Accountant
Owned amount of shares in Invalida LT, AB	-
Participation in other companies	Aktyvo, UAB - Director
Aktyvus Valdymas, UAB - Director
Finansu Rizikos Valdymas, UAB - Director
Iniciatyvos Fondas, VSI - Director
MBGK, UAB - Director
MGK Invest, UAB - Director
RPNG, UAB - Director
Regenus, UAB - Director
Cedus Invest, UAB - Director
Consult Invalida, UAB - Director
Cedus, UAB - Director

9.2. Information about the Audit Committee of the Company

On 30 August 2013 the General Shareholders meeting removed the Audit Committee in corpore and elected new Committee members: Danute Kadanaite, a lawyer at Legisperitus, UAB and Tomas Bubinas, a Chief Operating Officer at Biotechpharma, UAB (independent member).

Danute Kadanaite – Member of the Audit Committee

The term of office	Since 2013 until 2016
Educational background and qualifications	2004 - 2006 Mykolas Romeris University, Faculty of Law, Msc in Financial Law
2000 - 2004 m. Faculty of Law, BA in Law
1997 International School of Management
Work experience	Since 2009 Lawyer, Legisperitus, UAB
2008 – 2009 Lawyer, Finasta FBC
2008 Lawyer, Invalida, AB
1999 – 2002 Administrator, Office of Attorney of Law Arturas Sukevicius
1994 – 1999 Legal Consultant, Financial brokerage company Apyvarta, UAB
Owned amount of shares in Invalida LT, AB	-

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The term of office	Tomas Bubinas – Independent Member of the Audit Committee
Educational background and qualifications	Since 2013 until 2016
Work experience	2004 - 2005 Baltic Management Institute (BMI), Executive MBA
1997 - 2000 Association of Chartered Certified Accountants, ACCA, Fellow Member
1997 m. Lithuanian Sworn Registered Auditor
1988 – 1993 m. Vilnius University, Msc. in Economics
Owned amount of shares in Invalda LT, AB	Since 2013 Chief Operating Officer at Biotechpharma, UAB
2010 – 2012 Senior Director, Operations, TEVA Biopharmaceuticals (USA)
1999 – 2001 Senior Manager, PricewaterhouseCoopers
1994 - 1999 Senior Auditor, Manager, Coopers & Lybrand,

10. Information on the amounts calculated by the Issuer, other assets transferred and guarantees granted to the Members of the Board, the president and CFO

Within 9 months period of 2013 the calculated remuneration for the Members of the Board of Invalda LT, AB (as employees of the Company) amounted to 701.3 thousand litas, that is on the average 27.3 thousand litas per month for each member.

The calculated remuneration to the President of the Company and CFO totalled to 370.9 thousand litas, on the average 20.6 thousand litas per month for each member.

During the reporting period the Issuer transferred no assets, granted no guarantees, paid no bonuses or dividends, and made no special payouts for the Company's managers and CFO.

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IV. INFORMATION ABOUT THE ISSUER'S AND ITS GROUP COMPANIES' ACTIVITY

11. Overview of the Issuer's and its group activity

11.1. Operational environment

The Economy of Lithuania remains one of the fastest growing in the European Union. In contrast to previous years, the grow in 2013 was caused by increasing domestic demand – private consumption and investments, which compensates declining impact of export.

The Bank of Lithuania forecasts that the economy will rise by 2.8 percent this year and by 3.5 percent next year. It is stated that despite the recovery of domestic consumption, Lithuania's economy remains quite vulnerable due to a slow growth in the euro zone and unpredictable economic policies of the East.

Global GDP growth

Annual change, %	2012	2013	2014	2015
USA	2.8	1.6	3.3	3.7
Japan	2.0	1.9	1.4	1.0
Germany	0.7	0.5	1.7	2.0
China	7.8	7.5	7.4	7.0
Great Britain	0.2	1.5	2.3	2.6
Euro zone	-0.6	-0.5	0.8	1.7
Nordic countries	1.2	0.8	2.4	2.5
Baltic countries	4.2	2.9	3.8	4.4
Lithuania	3.7	3.2	3.5	4.5
Latvia	5.6	3.5	4.8	5.0
Estonia	3.2	1.5	3.3	3.5
Emerging markets	4.9	4.8	5.3	5.4
The World, PPP	3.4	3.2	4.0	4.2
The World, nominal	2.7	2.5	3.2	3.5
Source – SEB Nordic Outlook, 2013 August, OECD

The Bank of Lithuania forecasts that inflation this year will be around 1.3 percent this year and 1.5 percent in 2014. It is expected that in spring of 2014 Lithuania will meet the euro convergence criteria and will join the euro zone in 2015.

11.2. Significant Issuer's and its group events during the reporting period and since the end of it

The Company

• On 8 March 2013 Invalda LT, AB acquired 10 percent of its treasury shares at the total price of LTL 42.928 million (EUR 12.433 million). Share acquisition price – LTL 8.87 (EUR 2.4) per share. The share buy-back was implemented through the market of the official offer of NASDAQ OMX Vilnius AB on 19 February 2013. The maximum amount of shares to be acquired during the share buy-back program – 5,180,214 shares. The total amount of offered shares was 5,381,665 and as a result each shareholder sold 96.26 percent of the proposed amount of shares.
• On 9 April 2013 the General shareholders Meeting of Invalda, AB approved split-off terms of the public joint-stock company. In accordance with the split-off terms a part of Invalda assets has been split-off and on its basis a new public-joint stock company Invalda Privatus Kapitalas, AB has been formed. 45.45 percent of the total assets of Invalda, AB as well as 45.45 percent of the Company's equity capital and liabilities have been allocated to the newly established entity. The shares in Invalda Privatus Kapitalas, AB will not be listed on NASDAQ OMX Vilnius Stock Exchange. In accordance the split-off terms, the Company will continue its activity after the split-off under the new name of Invalda LT, AB.
• On 30 April 2013 the Ordinary General Shareholders Meeting of Invalda, AB approved the Company's consolidated annual report for 2012. The shareholders decided not to allocate dividends and bonuses, as well

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as carry forward the retained earnings of LTL 24.7 million to the next financial year. Invalda AB earned an audited consolidated net profit of LTL 24.7 million attributable to the Company's shareholders within 2012. This is 8.5 times less than in the same period of 2011 when the profit was 209 million litas.

• On 22 May 2013 the Board of Invalda, AB removed Dalius Kaziunas and appointed Mr. Sulnis as the President of Invalda, AB. Mr. Sulnis has already been the president of Invalda, AB in 2006-2011.
• On 27 May 2013 Invalda, AB acquired 2.1 percent of the treasury shares for the total amount of LTL 8.878 million. In accordance with the Company Law, the shareholders of Invalda, AB holding shares of the nominal value whereof is less than 1/10 of the authorized capital of Invalda, AB had a right within 45 days to require the Company to redeem their shares. The shares were acquired at a price of LTL 8.076 through the market of the mandatory official offer of NASDAQ OMX Vilnius AB.
• On 28 May 2013 the Board of Invalda LT, AB was elected. Mr. Banys was appointed as the Chairman of the Board, Mr. Sulnis and Ms. Miseikyte were elected as the Members of the Board.
• On 31 May 2013 the amended Articles of Association of the public joint-stock company Invalda were registered with the Register of Legal Entities. The amended Articles of Association stated a new name of the company – public joint-stock company Invalda LT, AB as well as a reduced authorized capital. Moreover, a new legal entity – public joint-stock company Invalda Privatus Kapitalas, AB was registered on the basis of a split-off part of equity, assets and liabilities of the public joint-stock company Invalda. The authorized capital of the stock company Invalda, AB after the split-off continuing activity under the new name Invalda LT, AB is LTL 24,833,551. It is divided into 24,833,551 ordinary registered shares with nominal value - 1 (one) litas per share
• On 3 June 2013 was announced that upon completion of the split-off of Invalda, AB one of the largest Lithuanian Investment companies Invalda LT, AB will focus on the revision of its investment portfolio as well as on a creation of strategies of particular businesses. The main activity of Invalda LT, AB is currently concentrated in furniture manufacturing (Vilniaus Baldai, AB), agricultural (Litagra, UAB), real estate property (Invaldos Nekilnojamojo Turto Fondas, AB), IT (BAIP group, UAB) and facility management sectors.
• On 26 June 2013 the Bank of Lithuania registered the Official Tender Offer Circuliar to buy up shares in one of the largest Lithuanian investment companies. The shareholders of Invalda LT, AB Mr. Banys, LJB Investments, UAB, Ms. Miseikiene, Mr. Sulnis, Lucrum Investicija, UAB and others holding together 90.15 percent of shares in Invalda LT, AB, offered EUR 2.355 per one share of Invalda LT, AB. The Tender offer was implemented on 2-15 July 2013.
• On 9 July 2013 the Bank of Lithuania registered the Official Tender Offer Circular to buy up shares in one of the largest Lithuanian furniture manufacturers companies issued by cooperating parties Invalda LT, AB, Invalda Privatus Kapitalas, AB and companies' shareholders. The Official Tender offer was announced due to the change of control in Invalda LT, AB, as well as indirect change of control in Vilniaus Baldai, AB. Offered share acquisition price - EUR 14.869 (LTL 51.34) per share.
• On 1 August 2013 Invalda LT, AB increased its stake in the furniture manufacturer Vilniaus Baldai, AB from 39.4 percent to 45.4 percent. Invalda LT, AB paid EUR 3.495 million (LTL 12.069 million) for 6 percent of shares in Vilniaus Baldai, AB acquired during the mandatory official tender offer. Acquisition was made by Invalda LT, AB using its own funds, thus, the short term loan was paid back to DNB bank AB.
• On 8 August 2013 the Board of Invalda LT, AB issued the announcement calling the shareholders to authorise a buy-back of up to 10 percent of its treasury shares. It was proposed to set the share acquisition price at of EUR 2.5 to EUR 3.5 (LTL 8.63 to LTL 12.08).
• On 30 August 2013 it was announced that the shareholders of Invalda LT, AB authorised the Board to initiate the acquisition of Company's treasury shares. It was decided to set the share acquisition price at of EUR 2.5 to EUR 3.5 (LTL 8.63 to LTL 12.08).
• On 30 August 2013 Invalda LT, AB announced that The General Shareholders meeting authorised the Board to initiate the acquisition of 10 percent of the Company's treasury shares.
• On 30 August 2013 the General Shareholders meeting removed the Audit Committee in corpore and elected new Committee members Danute Kadanaite, a Lawyer at Legisperitus, UAB and Tomas Bubinas, a Chief Operating Officer at Biotechpharma, UAB (as the independent member).
• Invalda LT, AB acquired 7.42 percent of own shares in the performance of own shares shares buy-back procedure on 10 October 2013. The total amount of EUR 5.343 million (LTL 18.45 million) was paid. Invalda LT, AB could purchase up to 2 million units of shares. During the share buy-back procedure it was offered to buy 1,842,553 units of shares. Share buy-back procedure started from 24 September and was implemented through the market of official tender offers of NASDAQ OMX Vilnius stock exchange until 7 October. The price shares, paid was EUR 2.9 (LTL 10.01) per share. The acquired 1,842,553 units of shares were settled in euros on 10 October. Given the fact that the treasury shares do not grant voting rights, the total amount of voting rights in Invalda LT, AB (ISIN LT0000102279) equals to 22,990,998 units.

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The Sectors

Furniture manufacturing sector

In the furniture manufacturing sector Invalda LT, AB controls 45.4 percent in Vilniaus Baldai AB, the leading furniture manufacturing company in Lithuania which exports almost all its production to the Swedish concern IKEA. Vilniaus Baldai, AB produces mass production furniture made of wood particle boards, using the most modern honeycomb substrate technology that helps to reduce the weight of a massive panel.

The sales of Vilniaus Baldai, AB amounted to LTL 121.696 million in the nine months of 2013 or 32 percent less than in the corresponding period of 2012 (LTL 179.141 million). The net profit of Vilniaus Baldai, AB was LTL 11.411 million during the nine months of 2013, in the same period in 2012 the net profit of the Company was LTL 19.549 million. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) reduced to 40 percent (from LTL 26.896 million to LTL 16.270 million).

The change in range caused worse results. Currently, production is implemented only in the main factory, whereas planned technical and technological adaptations are placed in the second factory. It is assumed that production in this factory will be renewed already this year and the factory will operate at a full capacity in the second quarter of 2014. Upon completion of mastering the new products and implementation of all investments in the general production, the Company showed better results in the third quarter of 2013. Sales in the third quarter of 2013 grew 60 percent compared to the second quarter of 2013 (from LTL 33.186 million to LTL 53.375 million), while the net profit increased over 200 percent at the same period - respectively, from LTL 2.062 million to LTL 6.164 million.

The shareholders of one of the largest Lithuanian furniture companies Vilniaus Baldai, AB on 16 September 2013 decided to allocate 34.976 million litas (9 litas per share) for the interim dividends.

Vilniaus Baldai, AB exports almost all its production to the Swedish concern IKEA.

Shares of Vilniaus Baldai, AB are admitted to trading in NASDAQ OMX Vilnius Main List. More information about company's activities and results can be found in publicly available reports.

Table 11.2.1. Results of the furniture manufacturing sector

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Sales	179.4	179.1	121,7
EBITDA	28.3	26.9	16,3
Net result	20.9	19.5	11,4
Capitalisation	126.1	162.4	194.6

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Real estate sector

In the real estate sector Invalda LT, AB owns commercial rental real estate and agricultural land. After the completion of the split-off procedure of Invalda, AB, the Company owns 48.5 thousand square meters of own premises in Vilnius and 27.3 thousand square meters of third party premises in Vilnius and Kaunas.

Also Invalda LT, AB group companies hold 2.8 thousand hectares of agricultural land. In the third quarter of this year the reorganization was completed. As a result of this reorganisation, the agricultural land of Invalda LT, AB is managed by 17 companies, each owning lands located nearby.

Table 11.2.2. Results of real estate sector

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Value of the real estate:	260.7	247.1	168.2
Commercial real estate	164.8	153.5	143.9
Real estate for development	65.4	36.2	0.7
Residential real estate	6.6	15.8	-
Agricultural land	23.9	41.6	23.6
Shareholders’ equity (inc. loans from Invalda AB)	133.3	152.9	70.5
Loans from credit institutions	119.7	102	96.7
Rental income	12.5	13.5	12.3
From this owned by clients	3.7	4.0	4.1
Change of the real estate value	0.1	(9.2)	0.3
Companies’ sales result, allowance and other non-monetary items	1.4	0.0	0.5
Result of the real estate sector	(2.2)	(10.0)	(0.3)

Table 11.2.3. Results of real estate companies owned by Invalda LT, AB after the split-off (excluding agricultural land companies)

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Real estate value	156.2	144.2	144.6
Shareholders’ equity (inc. loans from Invalda LT, AB)	56.6	45.5	47.4
Loans from credit institutions	103.5	100.8	96.7
Rental income	10.7	11.2	10.8
From this owned by clients	3.7	4.0	4.1
Result of companies	(1.4)	(0.4)	0.8

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Agricultural sector

In the agricultural sector Invalda LT, AB owns 20.1 percent of Litagra, UAB (one of the largest groups of agriculture companies in the Baltic states) shares through the company Cedus Invest, UAB. The shareholding decreased after the split-off of Invalda, AB.

Litagra Group has successfully increased its revenue, but the drop in grain prices and the lower yield responded to the profit decrease. Nevertheless the company increased the capacity and efficiency, therefore the results should be valued as positive.

Table 11.2.4. Results of the Litagra UAB group

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Sales	271.6	301.7	308.7
EBITDA	19.3	31.9	25.6
Net profit, according data provided by the company, on the ground of business accounting standards.	4.6	18	15.6
Result of the agricultural sector attributable to Invalda LT, AB according IFRS	-	9.5	4.5

More information on the services and activity of the sector is provided on http://www.litagra.lt

IT Sector

BAIP UAB in the third quarter of 2013

A new portfolio of cyber-security services covering defence governance, security audit, security incident response, security governance management, cyber defence technologies and services was developed and launched. International partnerships with AccessData, Lumension, Qualys, Fortinet, FireEye, Vasco, Renesys, Thycotic, AlientVault, Headtechnology, IBM Security manufacturers were expanded to implement the services mentioned.

NRD CS, UAB, one of companies of BAIP group, has been established. The company provides specialized cyber defense services.

Gytis Umantas has been appointed to become a new CEO of BAIP, UAB on 24 September 2013. Kazimieras Tonkunas previous CEO of BAIP, UAB remains the CEO of BAIP group, UAB.

The project on motor transport registration services in the electronic environment development on request of the state enterprise Regitra which lasted two years, has been successfully implemented. The software improvement of th main SIRENE national unit in Lithuania has been completed.

Activity abroad

Norway Registers Development AS (NRD) has invested in the East Africa and acquired 70 per cent shares of Tanzanian company 360° Smart Consulting Ltd I n April 2013. Later the Company changed its name to Norway Registers Development East Africa Limited (NRD EA).

A contract on business, mortgage and intellectual property rights registry systems development (worth 1.735 million litas) was signed with Rwanda Development Board was signed.

Vietnam's Information System of Business Registry development pilot project has been implemented

Norway Registers Development AS and one of the largest Internet and telecommunication services providers in the East African region SimbaNET have signed a two-year Cooperation and Services Agreement worth approx. 3.2 million USD.

Norway Registers Development AS (NRD), as a lead partner in joint venture has been awarded a year and a half long contract of Supply and Implementation of an eRegistry System in Mauritius worth 3.7 million USD.

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Table 11.2.5. Results of IT sector

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Sales	19.3	24.0	31.1
EBITDA	0.3	0.6	2.5
Net profit before investment amortization* and cost of management options	(0.4)	(0.6)	0.3
Net profit	(1.7)	(1.6)	(0.6)

*Amortization of contract assets formed during BAIP UAB acquisition.
More information on the services and activity of the sector is provided on www.baip.lt; www.nrd.no.

Facility management sector

The companies of facility management sector are providing facility management, engineering systems oversight, audit and incidents management, indoor air quality testing, multi-apartment house management, installation, repair, cleaning and other services.

After the split off of Invalda, AB the company Inreal Pastatu Prieziura, UAB changed its name into Inservis, UAB. In May 2013 Rimvydas Ramanauskas was appointed as a director of the Company.

The optimization of internal processes is of great importance. The main focus is on a profitable Business and quality of services, not on growth of sales. It is expected that current reforms will show positive results in the fourth quarter of 2013.

Table 11.2.6. Results of the facility management sector

Million litas	9 months of 2011	9 months of 2012	9 months of 2013
Sales	7.2	9.6	10.9
EBITDA	0.8	0.2	2.0
Net profit	1.03	(0.2)	1.1

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11.3. Issuer's and its group companies' performance results

Table 11.3.1. Income, thousand litas

	Company's			Group's
	9 months of 2011	9 months of 2012	9 months of 2013	9 months of 2011	9 months of 2012	9 months of 2013
Sales income				230,175	245,842	68,027
- furniture manufacturing	-	-	-	179,427	179,141	-
- real estate	-	-	-	19,262	26,439	20,028
- information technology	-	-	-	7,176	9,564	10,919
- facilities management	-	-	-	19,310	23,967	31,084
- other companies	-	-	-	8,087	8,886	7,043
- elimination	-	-	-	(3,087)	(2,155)	(1,047)
Gain (loss) from investments	295,082	4,476	163	(66,613)	9,500	2,013
Other income	19,318	37,863	22,196	7,174	3,523	1,365
- interest income	7,985	9,101	5,315	4,151	2,943	1,204
- dividend income	11,314	28,758	16,841	-	18	71
- other income	19	4	40	3,023	562	90
Change in value of investment properties	-	-	-	822	(9,223)	323
Net profit gained due to reorganisation			67,784			89,358

Table 11.3.2. Main items of financial statements, thousand litas

	Company's			Group's
	9 months of 2011	9 months of 2012	9 months of 2013	9 months of 2011	9 months of 2012	9 months of 2013
Non current assets	112,842	123,228	144,511	330,774	355,865	306,499
Current assets	352,998	253,208	50,052	373,158	233,336	60,865
Assets classified as held for sale	-	-	-	-	-	-
Equity	384,954	363,770	167,072	436,035	413,351	210,819
Equity attributable to equity holders of the parent Company	384,954	363,770	167,072	409,949	392,296	210,230
Minority interest	-	-	-	26,086	21,055	589
Non-current liabilities	-	-	-	140,614	125,584	115,104
Current liabilities	80,886	12,666	27,491	127,283	50,266	41,441
Result before taxes	284,268	25,859	87,619	(69,930)	10,286	97,226
Net result	299,089	24,156	87,004	238,340	29,440	100,518
Net result attributable to holders of the parent Company	-	-	-	232,755	24,257	99,508

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Table 11.3.3. Equity and liabilities

Invalda LT, AB million litas	9 months of 2011	9 months of 2012	9 months of 2013
Equity	384.9	363.8	167.1
Liabilities to financial institutions	1.7	-	-
From this long term	-	-	-
Liabilities to group companies	0.2	10.2	5.8
Bonds	33.2	-	-
Other liabilities	79.0	2.4	21.7
Total liabilities	80.9	12.6	27.5
Total Equity and Liabilities	465.8	376.4	194.6

12. A description of the principal risks and uncertainties

During the nine months of this year there were no material changes from the information about the principal rinks and uncertainties disclosed in the latest annual report.

13. Significant investments made during the reporting period

After the official tender offer settlement on 1 August 2013 Invalda LT, AB increased its stake in the furniture manufacturer Vilniaus Baldai, AB from 39.4 percent to 45.4 percent. Invalda LT, AB paid EUR 3.495 million (LTL 12.069 million) for 6 percent of shares in Vilniaus Baldai, AB (from 39,4 percent to 45,4 percent) acquired during the mandatory official tender offer. The price was EUR 14.869 (LTL 51.34) per share.

During the reporting period Invalda LT, AB has not made any others major acquisitions. Information about other investments is provided in the paragraph 8 of the Company's financial statements.

14. Issuer's and its group activity plans and forecasts

Invalda LT, AB will continue to seek the long term goal to increase shareholders equity and value of managed companies. Moreover, Invalda LT, AB will strive to ensure profitable operations and organical growth of all main group businesses.

The results of Invalda LT, AB mainly are influenced by concluded companies sale or purchase agreements which are difficult to predict. Therefore, the Board of the Company decided not to announce activity forecasts.

15. Information on the related parties' transactions

There were no harmful transactions (those that are not in line with issuer's goals, not under usual market terms, harmful to the shareholders' or stakeholders' interests and so on) made in the name of the issuer that had or potentially could have negative effects in the future on the issuer's activities or business results. There were also no transactions where a conflict of interest was present between issuer's management's, controlling shareholders' or other related parties' obligations to the issuer and their private interests.

Loan agreements, premises rent agreements as well as IT purchases made a major part of the related parties' transactions of the Company and Group within the reported period. The most significant of them are loan agreements for crediting of activity of the subsidiaries in the real estate sector. Furthermore, the Group company has granted loan of LTL 9 million to the Company's shareholder, which was fully repaid on July 2013. The detailed information on the related parties' transactions has been disclosed in the section 16 of the consolidated and Company's interim financial statements explanatory notes.

President

Darius Sulnis

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APPENDIX 1. INFORMATION ABOUT GROUP COMPANIES, THEIR CONTACT DETAILS

Company	Registration information	Type of activity	Contact details
FURNITURE MANUFACTURING SECTOR
Vilniaus Baldai, AB	Code 121922783
Address Savanoriu ave. 178, Vilnius
Legal form – public limited liability company
Registration date 09.02.1993	furniture design and manufacturing	Telephone +370 2 52 5700
Fax +370 2 31 1130
E-mail info@vilniausbaldai.lt
www.vilniausbaldai.lt
Ari-Lux, UAB	Code 120989619
Address Savanorių pr. 178, Vilnius
Legal form – private limited liability company
Registration date 28.10.1991	fitting packing	Telephone / Fax +370 2 52 5744
REAL ESTATE SECTOR
Invaldos Nekilnojamojo Turto Fondas, AB	Code 152105644
Registration address
A. Juozapaviciaus str. 6/2, Vilnius
Residence address – Seimyniskiu str. 1A, Vilnius
Legal form – public limited liability company
Registration date 28.01.1997	investments into real estate	Telephone +370 2 79 0601
Fax +370 2 73 3065
E-mail intf@intf.lt
INTF Investicija, UAB	Code 300643227
Registration address
A. Juozapaviciaus str. 6/2, Vilnius
Residence address - Palangos str. 4, Vilnius
Legal form – private limited liability company
Registration date 02.02.2007	investments into real estate	Telephone +370 2 75 5093
Fax +370 2 73 3065
Rovelija, UAB	Code 302575846
Address Palangos str. 4, Vilnius
Legal form – private limited liability company
Registration date 20.12.2010	investments into real estate	Telephone +370 2 63 6129
Fax +370 2 79 0530
Perspektyvi Veikla, UAB	Code 302607087
Address Kalvarijų str. 11-20, Vilnius
Legal form – private limited liability company
Registration date 25.03.2011	investments into real estate	Telephone +370 2 79 0614
Sago, UAB	Code 301206878
Registration address Seimyniskiu str. 3, Vilnius; Residence address - Palangos str. 4, Vilnius
Legal form – private limited liability company
Registration date 31.10.2007	investments into real estate	Telephone +370 2 73 0849
Fax +370 2 73 3065
Ekotra, UAB	Code 303112623
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71 080
E-mail info@ekotra.lt

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Company	Registration information	Type of activity	Contact details
REAL ESTATE SECTOR
Puskaitis, UAB	Code 303112769
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Zemynele, UAB	Code 303112559
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Kvietukas, UAB	Code 303112678
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Lauknesys, UAB	Code 303112655
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Vasarojus, UAB	Code 303004626
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Laukaitis, UAB	Code 303112694
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Ziemkentys, UAB	Code 303112648
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt

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Company	Registration information	Type of activity	Contact details
REAL ESTATE SECTOR
Zemgale, UAB	Code 303112744
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 620 71080
E-mail info@ekotra.lt
Avizele, UAB	Code 303113077
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Berzyte, UAB	Code 303112915
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Duonis, UAB	Code 303112790
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Pusaitis, UAB	Code 3031131032
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Zalve, UAB	Code 303113045
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Seja, UAB	Code 303113013
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt

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Company	Registration information	Type of activity	Contact details
AGRICULTURE SECTOR
Dirvolika, UAB	Code 303112954
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
Linaziede, UAB	Code 303112922
Registration address Seimyniskiu str. 1A, Vilnius;
Residence address Kestucio str. 26-414, Kaunas.
Legal form – private limited liability company;
Registration date 01.08.2013	investments into agricultural land	Telephone +370 62071080
E-mail info@ekotra.lt
AGRICULTURE SECTOR
Litagra, UAB	Code 123496364
Address Savanoriu pr. 173, Vilnius;
Legal form – private limited liability company
Registration date 30.01.1996	consulting and business management activity	Telephone +370 2 36 1600
Fax +370 2 36 1601
E-mail office@litagra.lt
www.litagra.ltEl.p.
office@litagra.lt
www.litagra.lt
INFORMATION TECHNOLOGY SECTOR
BAIP Group, UAB	Code 300893533
Address Juozapaviciaus str. 6 / Slucko str. 2, Vilnius
Legal form – private limited liability company
Registration date 27.06.2007	investments into information technology companies	Telephone +370 2 19 0000
Fax +370 219 5900
E-mail info@baipgruppe.lt
www.baipgruppe.lt
Informatikos Pasaulis, UAB	Code 126396718
Address Juozapaviciaus str. 6 / Slucko str. 2, Vilnius
Legal form – private limited liability company
Registration date 11.12.2003	investments into information technology companies	Telephone +370 2 77 9700
Fax +370 2 77 9725
E-mail info@infopasaulis.lt
www.infopasaulis.lt
Acena, UAB	Code 301318539
Address Juozapaviciaus str. 6 / Slucko str. 2, Vilnius
Legal form – private limited liability company
Registration date 03.12.2007	information technology infrastructure solutions.
information technology security consultations.
information technology infrastructure support services	Telephone +370 2 75 9647
Fax +370 2 73 5106
E-mail info@acena.lt
www.acena.lt
BAIP UAB	Code 301318539
Adress Juozapaviciaus str. 6 / Slucko str. 2, Vilnius
Legal form – private limited liability company
Registration date 03.12.2007	information technology infrastructure solutions.
information technology security consultations.
information technology infrastructure support services	Telephone +370 2 19 0000
Fax +370 2 19 5900
E-mail info@baip.lt
www.baip.lt
Norway Registers Development, AS	Code 985 221 405
Address Billingstadsletta 35 1375 BILLINGSTAD 0220 ASKER
Norvegeja
Legal form – public limited liability company
Registration date 23.12.2002	creation of new register reforms in various countries.providing consultancy on the information system design	Telephone +47 66 98 30 28
E-mail nrd@nrd.no

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INVALDA

Company	Registration information	Type of activity	Contact details
INFORMATION TECHNOLOGY SECTOR
NRD, UAB	Code 111647812
Address Zygimantu str. 11-5, Vilnius
Legal form – private limited liability company
Registration date 15.10.1998	creation of new register reforms in various countries. providing consultancy on the information system design	Telephone +370 2 31 0731
Fax +370 2 31 0730
E-mail info@nrd.lt
www.nrd.lt
NRD CS, UAB	Code 303115085
Adress A. Juozapaviciaus str. 6, Vilnius
Legal form – private limited liability company
Registration date 06.08.2013	cyber security services	Tel. +370 219 0000
Norway Registers Development East Africa Limited	Code
Adresas P.O. Box 71914,
Plot No 416/129 Nkrumah St,
Dar es Salaam,
Tanzania	creation of new register reforms in various countries. providing consultancy on the information system design	Telephone. +255 719 25 30 37
Vitma, UAB	Code 121998756
Address Juozapaviciaus str. 6 / Slucko str. 2, Vilnius
Legal form – private limited liability company
Registration date 25.06.1993	investments into information technology companies	Telephone +370 2 19 0000
Fax +370 2 19 5900
FACILITY MANAGEMENT SECTOR
Inservis, UAB	Code 126180446
Residence address Palangos str. 4, Vilnius
Legal form – private limited liability company
Registration date 25.03.2003	facilities management	Telephone +370 2 73 6607
E-mail prieziura@inservis.lt
www.inservis.lt
Priemiestis, UAB	Code 221487620
Address Skydo str. 30, Vilnius
Legal form – private limited liability company
Registration date 09.07.1992	facilities management	Telephone +370 2 67 0204
Fax +370 2 67 2941
E-mail info@priemiestis.lt
www.priemiestis.lt
Jurita, UAB	Code 220152850
Address Justiniskiu str. 62, Vilnius
Legal form – private limited liability company
Registration date 28.12.1990	facilities management	Telephone +370 2 48 2088
E-mail info@jurita.lt
www.jurita.lt
Naujosios Vilnius Turgaviete, UAB	Code 302650163
Address Skydo str. 30, Vilnius
Legal form – private limited liability company
Registration date 26.07.2011	markets activities	Telephone +370 2 67 0204
E-mail info@priemiestis.lt
buch.priemiestis@takas.lt

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INVALDA

Company	Registration information	Type of activity	Contact details
OTHER COMPANIES
Kelio Zenklai, UAB	Code 185274242
Address Gelezinkelio str. 28,
Pilviskiai, Vilkaviskio r.
Legal form – private limited liability
company
Registration date 06.09.1994	metal and wood processing
and wholesale trade	Telephone +370 342 67 756
Fax +370 342 67 644
E-mail info@keliozenklai.lt
www.keliozenklai.lt
IPP Integracijos
Projektai, UAB	Code 302890482
Adress Palangos str. 4, Vilnius
Legal form – private limited liability
company
Registration date 12.10.2012	facilities management	Telephone +370 273 6607
E-mail prieziura@inservis.lt
Inservis Grupe, UAB	Code 301673796
Residence address Seimyniskiu str.
1A, Vilnius;
Legal form – private limited liability
company
Registration date 07.04.2008	investing in building
maintenance companies	Telephone +370 2 63 6129
Fax +370 2 79 0530
Aktyvus Valdymas, UAB	Code 301673764
Registration address Seimyniskiu
str. 3, Vilnius; Residence address
Address Seimyniskiu str. 1A, Vilnius
Legal form – private limited liability
company
Registration date 07.04.2008	investment in real estate
companies	Telephone +370 2 63 6129
Fax +370 2 79 0530
Finansu Rizikos
Valdymas, UAB	Code 300045450
Residence address Seimyniskiu str.
1A, Vilnius
Legal form – private limited liability
company
Registration date 04.08.2004	investment activities	Telephone +370 2 63 6129
Fax +370 2 79 0530
Iniciatvos Fondas, VsI	Code 300657209
Registration address Seimyniskiu
str. 3, Vilnius
Residence address Seimyniskiu str.
1A, Vilnius
Legal form – public institution
Registration date 08.03.2007	organising of social
initiative programmes	Telephone +370 2 63 6129
Fax +370 2 79 0530
E-mail info@iniciatvosfondas.lt
www.iniciatvosfondas.lt
MBGK, UAB	Code 300083611
Address Seimyniskiu str. 1A. Vilnius
Legal form – private limited liability
company
Registration date 27.2005.01	carries no activity	Telephone +370 263 6129
Fax +370 279 0530
MGK Invest, UAB	Code 302531757
Address Seimyniskiu str. 1A. Vilnius
Legal form – private limited liability
company
Registration date 27.07.2010	carries no activity	Telephone +370 263 6129
Fax +370 279 0530
RPNG, UAB	Code 302575892
Address Seimyniskiu str. 1A, Vilnius
Legal form – private limited liability
company
Registration date 20.12.2010	carries no activity	Telephone +370263 6129
Fax +370279 0530

28

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INVALDA

Company	Registration information	Type of activity	Contact details
OTHER COMPANIES
Consult Invalda, UAB	Code 302575814
Address Seimyniskiu str. 1A, Vilnius
Legal form – private limited liability company
Registration date 20.12.2010	carries no activity	Telephone +370 2 63 6129
Fax +370 2 79 0530
Regenus, UAB	Code 302575821
Address Seimyniskiu str. 1A, Vilnius
Legal form – private limited liability company
Registration date 20.12.2010	carries no activity	Telephone +370 2 63 6129
Fax +370 2 79 0530
Cedus, UAB	Code 302656796
Address Seimyniskiu str. 1A, Vilnius
Legal form – private limited liability company
Registration date 18.08.2011	carries no activity	Telephone +370 2 63 6129
Fax +370 2 79 0530
Laikinosios Sostines Projektai, UAB	In bankruptcy

29