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Morzotto executes demerger with Valentino Fashion Group

28 Jun '05

4 min read

Consequently, as from the mentioned date, Marzotto ordinary, non-convertible and convertible savings shares will be traded “ex-demerger”.

Borsa Italiana S.p.A. resolution admitting the Beneficiary Company's ordinary, convertible and non-convertible savings shares for trading on the stock market was adopted last 16 June while, after Consob's approval of 23 June 2005, the Listing Prospectus was filed with Consob and made available for the public at the Company's registered office and at Borsa Italiana S.p.A. on 24 June 2005.

Marzotto shareholders will be assigned the shares issued by the Beneficiary Company, in the same proportions as the stake they hold in the share capital of the Demerged Company, on the basis of the following share exchange ratio:

- Ordinary share of the Beneficiary Company, with a nominal value of 1.00 euro each, for each ordinary share held in the Demerged Company;

- Non-convertible savings share of the Beneficiary Company, with a nominal value of 1.00 euro each, for each non-convertible savings share of the Demerged Company;

- Convertible savings share of the Beneficiary Company, with a nominal value of 1.00 euro each, for each convertible savings share of the Demerged Company. Cash settlements are not contemplated.

Valentino Fashion Group share capital, at the demerger effective date, will be euro 74,106,302 divided into no. 68,328,963 ordinary shares, y shares, no. 2,492,966 non-convertible savings shares and no.

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