[vc_row][vc_column][vc_column_text]THIS DOCUMENT MAY NOT BE PUBLISHED, DISTRIBUTED, USED, IN WHOLE OR IN PART, DIRECTLY OR
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shares to AIM Italia.
Award of the assets of ETAIR – Entreprise de Travaux Aériens et d’Interventions Rapides Méditerranée in
judicial liquidation, a leading French company in the double rope construction sector in south-east France
• Countervalue of the transaction equal to Euro 110,001
• EdiliziAcrobatica implements its internationalization strategy with the entry into the French
market
• Closing expected by June 2019
Genoa, 6 March 2019
EdiliziAcrobatica (EDAC), a company specialized in double safety rope construction works, such as
maintenance and renovation of buildings and other architectural structures, listed on the AIM
Italia/Mercato Alternativo del Capitale segment (EDAC ticker) and Euronext Growth (ALEAC ticker), was
today awarded the assets of ETAIR – Entreprise de Travaux Aériens et d’Interventions Rapides Méditerranée
in judicial liquidation (ETAIR), a leading French company in the double rope construction sector in southwest France. The assets will, however, be transferred to the company EdiliziAcrobatica France, whose share
capital is wholly owned by the Issuer, as the successful bidder identified by EDAC.
The acquisition of ETAIR’s assets is part of EDAC’s internationalization strategy and represents the first
acquisition that will enable it to oversee and develop its first foreign market: the French one.
“Since I created EdiliziAcrobatica I have always had a very clear objective: to revolutionize the way of
building in the world,” said Riccardo Iovino, CEO and founder of EdiliziAcrobatica. “I started in Genoa, 25
years ago, replacing a gutter and receiving a smile and a bottle of wine as payment, but since then I have
strongly believed that this technique that I had experienced myself represented a revolution for the building
world. Since then, I have worked every day with the aim of making EdiliziAcrobatica a reality at the center of
which there were people, employees and collaborators, certain that only this was the possible way to make
my company a company that had the strength to go beyond national borders and export a know-how that is
not only operational, but ethical and human. Today, a week after our listing on Euronext Growth, we are
happy to announce the award of the assets of ETAIR, a company in the sector based in Perpignan: and so
today we can say that the first step towards the world has been taken”.
Characteristics of the assets to be awarded
The company ETAIR – Entreprise de Travaux Aériens et d’Interventions Rapides Méditerranée in judicial
liquidation was founded in 2002, based in Perpignan, and operates in the double rope construction sector
in south-west France.
In 2018, ETAIR recorded revenues of approximately Euro 6.29 million, with EBITDA and Net Profit negative,
respectively Euro -0.13 million and Euro -0.26 million.
The acquisition of ETAIR’s assets will take place in the context of the judicial liquidation procedure opened
at the court of Perpignan. As a result of this procedure, today, EdiliziAcrobatica France, on appointment of
EDAC, was awarded the assets owned by ETAIR resulting from its balance sheet assets and the inventory
drawn up by the bodies of the procedure.
The agreed price, equal to € 110,001, is represented by:
• Intangible Fixed Assets equal to € 55,000
• Tangible fixed assets of € 40,000
• Warehouse of € 15,000
• Portfolio Orders relating to work in progress since 28/02/2019 equal to € 1.
ETAIR has 52 employees and as at 28 February 2019 the value of equipment, tools and order backlog
relating to work in progress amounted to approximately € 3.18M.
The transaction in question is a significant transaction pursuant to art. 12 of the AIM Italia Issuers’
Regulations.
Value and structure of the transaction
The value of the assets to be acquired is Euro 110,001 and will be paid to ETAIR as a cash price.
The price, already deposited by EDAC in a special escrow account, will be paid to ETAIR on the day on which
the deeds of sale of the assets are signed, which must be stipulated within 4 months of the day on which
EdiliziAcrobatica France takes possession of these assets. This period may, however, be extended by
agreement between the judicial administrator and EdiliziAcrobatica France.
The possession of the assets will be transferred, following and as a result of the award, to EdiliziAcrobatica
France, a company set up ad hoc for this transaction on 5 March 2019.
EdiliziAcrobatica France is a simplified joint-stock company with initial share capital of Euro 1,000; its share
capital will be increased when, following the completion of the acquisition of the ETAIR assets, its debt to
EDAC will be converted into share capital.
With the operation described herein, EdiliziAcrobatica France will acquire 47 employees from the ETAIR
operating team, with the assumption of the related payables to employees, equal to approximately Euro
177,778.
The chairmanship of EdiliziAcrobatica France will be assumed by Riccardo Iovino, while the general
management by Paolo Stella.
This press release is available on the website: https://ediliziacrobatica.com
In the Construction operation it was assisted by Emintad Italy and BDO France as financial advisor and by
the law firms LCA and DS Avocats.[/vc_column_text][vc_empty_space height=”22px”][vc_column_text]17- PRESS RELEASE – EDILIZIACROBATICA_ expansion on the French market. Award of ETAIR’s assets. 06.03.2019[/vc_column_text][vc_empty_space height=”22px”][vc_row_inner][vc_column_inner width=”1/2″][vc_column_text]Press Office
EdiliziAcrobatica S.p.A.
Deborah Dirani
Ufficiostampa@ediliziacrobatica.com
C: 393 8911364[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_column_text]Nominated Adviser (Nomad)
Banca Profilo S.p.A.
ediliziacrobatica@bancaprofilo.it
02584081
www.bancaprofilo.it[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]