(Finance) – The Board of Directors of Jonixa company listed on Euronext Growth Milan and specialized in NTP technology for indoor air sanitisation, has decided to proceed with the convocation of the meeting of the shareholders for decide on the proposal to withdraw from negotiations.
The delisting is justified by the sharp contraction in the air sanitizer marketwhich – after exponential growth in the 2020/2021 pandemic period – has undergone a vertical collapse that appears incontrovertible, we read in a note, which cites a sudden and massive decline in interest in any type of air sanitization device, whether in the Italian market and in foreign markets.
The administrators have implemented a series of interventions aimed, on the one hand, at reducing costs, and on the other at stimulating a commercial recovery functional to turnover growth; the results obtained, however, they do not offer prospects for overcoming the negative trend consolidated to date, is highlighted.
The delisting would therefore allow us to focus on operational activities, with greater management and organizational flexibility and a reduction of management costs.
The revocation from Piazza Affari is subject to the approval of the proposal by the ordinary shareholders’ meeting which must take place, pursuant to the Euronext Growth Milan Issuers Regulation, by no less than 90% of the votes of the shareholders gathered at the meeting. The shareholdings of the main shareholders are: a) MMH Industries Srl 21.66% (1,417,500 shares); b) Antonio Cecchi 19.87% (1,300,000 shares); c) Bisarcha Srl 18.34% (1,200,000 shares); d) Galletti SpA 8.27% (541,000 shares); e) free float 31.86% (2,084,400 shares).
All the reference shareholders listed above, together with Luca Galletti (currently owner of 250,000 shares equal to 3.82% of the capital) and Wolfgang Fels (currently owner of 41,500 shares equal to 0.63% of the capital), have expressed there willingness to purchase shares in the free float, subject to the positive resolution of the revocation. The price of the takeover offer by the relevant shareholders, together with the liquidation value of the shares in the event of withdrawal by the shareholders, will be made known as soon as possible.
Jonix listed on 4th May 2021 on the former AIM Italia with a placement price of 4.00 euros, a collection of 6.2 million euros and a capitalization of 26.2 million euros. Today Jonix closed at 0.401 euros per share, for a capitalization of just 2.62 million euros.
The company closed on 2023 with revenues of 1.42 million euros, compared to 4.39 million euros in 2022, and a loss of 672 thousand euros, compared to -151 thousand euros in 2022.