(Finance) – Arepocontrolling shareholder of Bank Profile makes known of not having accepted the further extension request from Twenty First Capital, in relation to the purchase and sale of a number of Banca Profilo shares representing 29% of the share capital.
The extension would have been necessary as of today the conditions precedent have not been fulfilled provided for by Contract which therefore it is become ineffective.
The Contract, as well as the extension to 20 March 2024 of the deadline for fulfillment of the conditions precedent, were communicated to the market on 22 May 2023 and 30 November 2023 respectively.
The Board of Directors of Arepo, in light of the decision taken not to grant a further extension to TFC, has evaluations are underway on the alternatives currently available for the valorisation of its participation and will promptly communicate them to the market when the conditions are met.