(Tiper Stock Exchange) – Negma Group Investment has exceeded the relevant threshold of 20% in the capital of ILLA, a company listed on Euronext Growth Milan and active in the production and marketing of aluminum cookware with non-stick coating. The investment company based in Dubai, specializing in hybrid equity and debt instruments, holds 185,696,527 shares, equal to a share of 29.16% stake calculated on the total number of shares issued equal to 636,761,527.
This follows the issuance of new shares after conversion requests, which arrived in recent days, of Convertible Bond Loan (POC) reserved for Negma itself.
Negma is now by far the main shareholder of the Emilian company, followed by Ki Group Holding with 8.49%, Lucio Stella with 7.54% and NOI Srl with 5.35%. The market holds 49.46%.
Some shareholders, including Lucio Stella and NOI Srl, are urging the company to not implement the remaining tranche of the Convertible Bond Loan, as they believe that “the shareholdings have been seriously affected by the incorrect application of the POC execution mechanism – in itself already burdensome and ineffective -, an application which led to an extremely illegitimate dilution of the shareholdings of minority shareholders”.
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