(Finance) – “After three years that Red Circle Investments is a partner of Agricultural farmsafter Renzo Rosso (for over thirty years active in the wine sector with Diesel Farm) was director of Masi Agricola and only after Red Circle Investments contested the financial statements, suddenly the Boscainis realize that there is a competitive relationship which would prevent the directors designated by Red Circle Investments itself, Arianna Alessi and Lorenzo Tersi, from maintaining this office and they resort to this pretext to revoke them”. Renzo Rosso’s holding companyafter the convocation of the Masi Agricola shareholders’ meeting for the revocation of the two members attributable to it.
“It’s a unlawful and abusive behavior, yet another proof of the closure of the dialogue of the management and of the majority of Masi Agricola. Red Circle will react in each venue also as a minority shareholder”, it is underlined, after this morning the Board of Directors of the Valpolicella winery called the meeting for 21 July 2023.
In recent weeks, Red Circle Investments – a company that holds 10% – had decided to sue Masi Agricola in the Court of Venice for the resolution to approve the financial statements as at 31 December 2022.
The winery then spoke of a “groundless legal action” which “is part of a series of unpleasant behaviours” and decided to precede with “dutiful checks on the directors of Red Circle Investments, with particular reference to the positions they hold in competing companies”. Renzo Rosso’s company countered that the communiqué which contained this reply “has a incorrect and seriously harmful content rights, image and reputation of Red Circle Investments”.
(Photo: Hermes Rivera on Unsplash)