(Finance) – Destination Italyannounces that, today, the Board of Directors met which decided to give partial execution to the delegation conferred by the Shareholders’ Meeting on 9 December 2024 and, for the effect, to increase the share capital of the company, For a fee and in via Discintable, for the amount of maximum Euro 900,000.00, including surcharge, with the exclusion of the right of option, by issuing maximum n. 1,800,000 new ordinary shares Destination Italy, without the indication of the nominal value and having the same characteristics as those already in circulation on the date of issue with regular enjoyment.
The capital increase, reads a note, is reserved for Italian and foreign qualified investors and investors other than qualified investors who intend to support the company’s growth path.
The capital increase may be signed with a final subscription deadline as of March 31, 2025.
The capital increase is proposed to subscribe to a Price of € 0.50 for each new action. The price was determined using as a reference criterion the weighted average of the closing prices of the Destination Italy Spa title of the last 3 months preceding the date of February 17, 2025, equal to € 0.5577, applying, on the basis of the consolidated market practice For similar operations, a discount of about 10%.
The capital increase, explains the note, is part of the process of integration and strengthening of the company’s property and financial equipment with the aim of allowing the same to continue in its ambitious growth project. In particular, the injection of new financial resources will help improve property indicators, thus favoring the solidity and competitiveness of the company. In this context, the exercise of the delegation and the exclusion of the right of option allow to accelerate the execution times of the capital increase, guaranteeing an adequate collection of the necessary resources, in order to respond to the strategic needs of the company and the group.
Therefore the Board of Directors has decided to start the placement of new actions through the Accelerated Bookbuilding (“ABB” procedure). The ABB will begin immediately and will end on 20 February 2025, unless advanced closing that will be communicated by the company.