(Tiper Stock Exchange) – patterns, Italian company founded in 2000 by Francesco Martorella and Fulvio Botto, among the most important operators in the design, engineering, development, prototyping and production of clothing lines for the most prestigious top-of-the-range world brands, in the men’s and women’s fashion shows and first lines segment , signed a binding investment agreement for the purchase, through its subsidiary (80%) SMT – Società Manifattura Tessile 100% of Nuova Nicol, an Emilian company specializing in the production of luxury knitwear for women.
The set price is 6 million euro based on the following assumptions agreed between the parties: the Net Equity of Nuova Nicol as at 31 December 2022, reduced by all the components referred to in the Demerger, is not less than 1.4 million; the gross profit of Nuova Nicol, before taxes, without considering any impacts deriving from the demerger and therefore on the basis of ordinary operations, recorded for the year 2022, is not less than 1.5 million; the Net Financial Position, at the Closing date, is positive and is not less than 700,000.00.
This price will be paid by SMT – Textile Manufacturing Company to the sellers for 80% on the Closing date and for the remaining 20% after the approval of the financial statements of Nuova Nicol as at 31 December 2025, assuming the existence of certain conditions.
The agreement provides that the execution date of the transaction, meaning the date of purchase, by SMT – Società Manifattura Tessile, of the entire share capital of Nuova Nicol, takes place – subject to the satisfaction of certain conditions precedent, including the completion of the demerger – no later than April 30, 2023.
Furthermore, it is also envisaged that the management of Nuova Nicol, starting from the Closing, is entrusted to a board of directors made up of 5 (five) members appointed by SMT, two of which will be Ms. Luisa Rinaldi and Mr. Valerio Nicoli.