EDILIZIACROBATICA S.p.A. – PAS (Price Adjustment Share) PROSPECT APPROVED
Genoa, 13 May 2019 – The Board of Directors of EdiliziAcrobatica S.p.A. has approved today the “PAS Prospect”. The Company had full confidence in its earning capacity and was involved in the Initial Public Offering to reach a 2018 EBITDA of 4,2 million Euro, net of the accounting effects related to the listing process; failure to reach the above mentioned EBITDA target, the Price Adjustment Share mechanism (PAS) would have entailed the gradual cancellation of shares owned by the original shareholders up to 20%. The 2018 financial year closed with a normalized 2018 EBITDA of approximately 4,5 million Euro, net of the effects related to the listing process, thus even exeeding the initiat target. To get more insights, please refer to the “PAS Prospect”, which is currently available on the company website (www.ediliziacrobatica.com) in the “Investor Relations” section, within the terms of the law and article 3 of the Company Articles of Association. EdiliziAcrobatica has also engaged the international audit firm Deloitte & Touche S.p.A to verify the “PAS Prospect” compliance with the criteria listed in the Articles of Association (art. 3 c.2 lett.c).
This press release is available on the website: https://ediliziacrobatica.com/
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