Genoa, 20 May 2019 – The Board of Directors of EdiliziAcrobatica S.p.A. has approved today the conversion of PAS Shares. 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; 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, thus even exceeding the initial target. Today the Company annonced the total conversion of 1.200.000 Price Adjustment Shares ISIN code IT0005351512 into Ordinary Shares ISIN code IT0005351504, with a conversion rate set at 1 (one) Ordinary Share for 1 (one) Price Adjustment Share. Following this conversion, the share capital of the Company is now amounting to 7.725.300 Ordinary Shares, ISIN code IT0005351504. This conversion has been approved by the Board of Directors on May 20 2019, following the approval of the audit firm Deloitte & Touche S.p.A. and will become effective within 4 working days. As a result of the conversion of the Price Adjustment Shares into Ordinary Shares, the Board of Directors committed to the following actions: a) enter all necessary communications regarding the approved conversion, the cancellation of remaining Price Adjustment Shares (if any) and issuing of Ordinary Shares into the central management system of financial tools, pursuant to article 83-bis and following articles of Decree-Law 58/1998, and in accordance with subsequent amendments; b) submit the amended version of the Articles of Association, including the updated number of total Shares of which the share capital is made up, with the Italian Business Register, in accordance with article 2436, paragraph 6, of the Civil Code and carry out all necessary tasks to complete the filing. 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.

This press release is available on the website: https://ediliziacrobatica.com/
Investor Relations
EdiliziAcrobatica S.p.A.
Deborah Dirani
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