(Finance) – The Board of Directors of WIITa company listed on Euronext STAR Milan and active in the Cloud Computing market, unanimously approved the draft merger by incorporation of the subsidiaries Adelante, Matika and Etaeria. The merger project was also approved by the respective boards of directors of the companies being merged on March 11, 2022. The operation, a note explains, aims to optimize coordination, functioning and synergies of the structures belonging to the companies participating in the merger, as well as reducing the fixed costs of the structure and obtaining advantages in terms of functionality and operational and economic efficiency.
As this is a merger by incorporation of wholly owned companies no share is due to the shareholders of the merged companies and, therefore, it is not necessary to determine the exchange ratio and the methods of assigning the shares of the company as well as the date from which these shares will participate in the profits. There effective date of the merger will be established in the merger deed.
(Photo: Bethany Drouin)