(Finance) – doValueannounces that today the Option Period of the maximum n. 170,140,355 newly issued ordinary shares of doValue, resulting from the share capital increase under option, for a maximum total amount of approximately Euro 150 million, including share premium, resolved on 21 November 2024 by the Board of Directors of doValue, to take advantage of the delegation granted by the Shareholders’ Meeting, in extraordinary session, on 11 September 2024.
During the option offer period, which began on 25 November 2024 and ended today, 12 December 2024 (inclusive), no. 19,071,592 option rights for the subscription of n. 166,876,430 New Shares, equal to approximately 98.08% of the total New Shares offered, for a total value of Euro 146,851,258.40.
The shareholders Fortress, Bain, Tibera company affiliated to the funds managed by Elliott Advisors (UK) Limited, and some managers of Gardant, in execution of the subscription commitments of their share of the Capital Increase undertaken on 7 June 2024, have subscribed n. 90,234,095 New Shares, equal to approximately 53.04% of the total New Shares offered, for a total value of Euro 79,406,003.60.
The remaining no. 373,020 option rights not exercised during the Option Period (the “Unexercised Rights”), which give the right to subscribe for a maximum of no. 3,263,925 New Shares, equal to approximately 1.92% of the total New Shares offered, for a total value of Euro 2,872,254.00 will be offered on the Stock Exchange by doValue, in the sessions of 16 December 2024 and 17 December 2024, subject to early closure of the offer in the event of full sale of the Unexercised Rights.
Equita SIM will coordinate the Offer on the Stock Exchange of the Unexercised Rights which will be offered on Euronext Milan, a regulated market organized and managed by Borsa Italiana, with ISIN code IT0005619504.
During the session of 16 December 2024, the entire quantity of Unexercised Rights will be offered and in the session of 17 December 2024, any Unexercised Rights not placed in the previous session will be offered.
THE Unexercised Rights grant the right to subscribe to the New Shares, at the price of Euro 0.88 per New Share, in the ratio of no. 35 New Shares every n. 4 Unexercised Rights purchased.
The company also makes it known that Tiber is committed to subscribe, following the Offer on the Stock Exchange, the New Shares deriving from the failure to exercise the option right due to some previous shareholders of Gardant, up to the maximum overall amount of Euro 2,949,685.20 and on condition that such subscription does not entails the obligation for Tiber to launch a mandatory takeover bid on the share capital of doValue; and as previously communicated, doValue has signed the guarantee agreement (the “Underwriting Agreement”) relating to the capital increase with Mediobanca – Banca di Credito Finanziario, UniCredit Bank GmbH, Milan Branch, Banca Akros – Gruppo Banco BPM and Intesa Sanpaolo, in their capacity as Joint Global Coordinator, who have undertaken, separately from each other and without any bond of solidarity, according to the terms and conditions set out therein, to sign, in proportionate to the respective commitments undertaken pursuant to the Underwriting Agreement, any New Shares remaining unopted at the end of the Offer on the Stock Exchange, up to the maximum overall amount of Euro 67,367,792.80.