(Finance) – Phidiasa company listed on Euronext Milan and active in the sector of design, production and marketing of milling systems, received the notification from the Court of Ivrea of declaratory measure dismissing the composition procedurefor complete execution of the same (decided in the council chamber on 28 November 2024).
In particular, the aforementioned provision: declared the full execution of the composition with creditors presented by the company; provided that Fidia, within 60 days of notification, gives a mandate to transfer the titles due to the creditors who are beneficiaries of the Morfino Undertaking, who have expressly refused the transfer, in favor of the other beneficiaries of the Undertaking in proportion to the value of the credit claimed by them and takes steps to deposit the sums (a total of 103.13 euros), intended for creditors who are still untraceable, in a special postal booklet made out to the company and segregated for this purpose; declared the termination of the office of the Judicial Commissionerwith supervisory functions over the execution of the plan; ordered the archiving of the procedure file; ordered the publication of the provision in the Companies Register.
“With the provision of the Ivrea court closing the agreement, the Phidias’s restructuring plan finally enters a new phase – commented the executive president Luigi Maniglio – Thanks to the precious contribution of the company management, who strongly believed in the relaunch, and of the advisors and with the fundamental support of the investors (Negma and FAI), the company is now ready to face the relaunch phase with confidence”.
“The development during this year of new products for the year to come and the consequent and constant recovery of order collection in the last quarter are in fact the premises for a 2025 financial year in line with the industrial plan updated by the Board of Directors on 22 October – he added – This rewards investors’ confidence in the company’s capabilities and the renewed choice of all customers and suppliers for our technology and capabilities“.