(Finance) – The planned transfer from Exacto to CVA EOS of 4,862,219 ordinary shares of Renergeticsequal to 60.00% of the Share Capital.
Renergetica itself announced this in a note adding that the closing of the Operation was completed following the fulfillment of the conditions precedent relating to obtaining the authorization pursuant to the legislation golden poweras well as the completion of the transfer by Renergetica to Exacto of its foreign subsidiaries in Spain and the United States.
In particular, the planned sale to Exacto of the subsidiary Ren 189 (to which the shareholdings in the subsidiaries operating in the USA and Spain had previously been transferred) was completed and the trade receivables from Exacto deriving from the sale to the same of the subsidiaries operating in the Latin American area, resulting in a total proceeds of approximately 2.8 million euros, with a corresponding improvement in the financial situation.
CVA EOS and Exacto have also signed a five-year shareholder agreement concerning, among other things, corporate governance rules and limitations on the transfer of Renergetica shares, with the aim of ensuring stability in the governance and corporate structure.
Following this acquisition and pursuant to Renergetica’s bylaws, CVA EOS is required to promote apublic takeover offer (Obligatory public tender offer) on the remaining ordinary shares of Renergetica (excluding the 1,797,143 shares held by Exacto, equal to 22.18% of the share capital, by virtue of a commitment not to adhere to the tender offer undertaken by the same) at value of 10.11 euros per share, equal to the amount paid by CVA EOS to Exacto for each of the ordinary shares purchased.
The takeover bid will not be aimed at delisting as the CVA Group has represented its intention to keep the Renergetica shares listed on Euronext Growth Milan even after the outcome of the takeover bid, therefore intending to carry out any operations aimed at reconstituting the floatingwhere necessary.