(Finance) – The Board of Directors World TVa company listed on Euronext Star Milan and activates in the production and distribution of television series and animated films, has given the president and CEO Matteo Corradi every wider power with the task of putting in place all the necessary and appropriate obligations for proceed with the voluntary exclusion from the Star Segment of Euronext Milan.
The decision to proceed with the request for exclusion from the Star segment, which represents one of the evolution phases of the company’s financial structure, is part of a strategic context aimed at simplify governance and optimize business activitieswithout compromising the company’s constant commitment to their shareholders and other parties concerned, we read in a note.
The company has considered that the exclusion from the Star segment can be advantageous, as it would allow greater operational flexibility, as well as a more efficient and less burdensome management of compliance with stringent regulations provided for companies belonging to this segment. In particular, World TV believes that the exit from the Star segment represents a useful step to align with the current development needs and to optimize the resources available.
The company “ensures that the decision will not negatively affect its operational activities And it will continue to guarantee the utmost commitment to all interested parties, with the aim of preserving the value for shareholders and promoting the continuous growth of the company “, is underlined.
World TV has lost 40% in the last weekafter last Friday communicated the intention to start the process of composition negotiated in continuity pursuant to the crisis code, with the aim of overcoming the temporary and transitory situation of economic-financial tension. The title is downhill over 80% since the beginning of the year.