(Telestock) – Olidataa group listed on Euronext Milan and a system integrator in the digital services sector, has announced that the merger deed relating to the incorporation of Sferanet into Olidata has been stipulated. The merger is expected to take effect on 1 August 2024.
The meeting of 7 May 2024 approved the merger plan and the exchange ratio equal to 169 new Olidata shares for every 1 euro of Sferanet share capital held on the effective date of the merger by each of its shareholders other than Olidata. As of today, Olidata already owns 51% of Sferanet share capital.
To service the exchange ratio, on the effective date Olidata will execute a capital increase with the exclusion of the option right, for a total nominal amount of 8,892,184 euros, with the issue of 77,977,952 ordinary shares, to be assigned to Sferanet shareholders other than Olidata
The merger, as stated in a note, will allow a‘organizational optimization able to further strengthen the group’s position in the Information Technology market serving the country, with an eye also abroad.
Sferanet, a company founded in 2008 and recognized as one of the main national players in the ICT sector, represented the main driver of Olidata’s re-admission to the stock exchange occurred in April 2023.
“We are confident that this transaction represents a decisive step towards a new era of growth and success,” declared Claudia Quadrino, CEO by Olidata.