(Finance) – The board of directors of BFC Mediapublishing group listed on Euronext Growth Milan, resolved to convene the shareholders’ meeting to decide on the withdrawal from trading of the shares ordinary. The delisting is subject to the approval of the proposal by no less than 90% of the votes of the shareholders gathered at the meeting (July 12 on first call, July 13 on second call). The company expects the delisting to take effect on July 21, 2023.
The delisting proposal from Piazza Affari is motivated by the need to allow the company to focus on its operational activitiesaimed at pursuing the objectives set out in the business plan in terms of growth in the reference market, with greater managerial and organizational flexibility and a reduction of management costsreads a note.
As of today, the capital of BFC Media is held by IDI Srl (controlled by Danilo Iervolino) for 71.64%, JD Farrods for 17.81%, Denis Masetti for 0.42%, Alga Srl (controlled by Donato Ammaturo) for 3 .6%, Minvest Srl for 3.6%. The market holds the remaining 2.94%.
Alga Srl manifested the willingness to buy by the shareholders, other than those who voted in favor of the delisting, the shares held by them up to a maximum of 93,250 shares, equal to approximately 2.94% of the share capital, at a price per share equal to 4.03 eurostherefore for a maximum value of 375,797.5 euros.
After the delisting, the shares will not be traded on any market regulated or Italian or European multilateral negotiation system but may still be subject to transfer, privately, in accordance with the civil code.