{"id":1832062,"date":"2020-11-05T00:00:00","date_gmt":"2020-11-05T00:00:00","guid":{"rendered":"https:\/\/ediliziacrobatica.com\/comunicati-stampa\/press-release-ediliziacrobatica-s-p-a-resolves-to-convert-pas-shares-into-ordinary-shares-20-05-2019\/"},"modified":"2020-11-05T00:00:00","modified_gmt":"2020-11-05T00:00:00","slug":"press-release-ediliziacrobatica-s-p-a-resolves-to-convert-pas-shares-into-ordinary-shares-20-05-2019","status":"publish","type":"investor-releases","link":"https:\/\/ediliziacrobatica.com\/en\/comunicati-stampa\/press-release-ediliziacrobatica-s-p-a-resolves-to-convert-pas-shares-into-ordinary-shares-20-05-2019\/","title":{"rendered":"PRESS RELEASE – EDILIZIACROBATICA S.p.A. RESOLVES TO CONVERT PAS SHARES INTO ORDINARY SHARES 20.05.2019"},"content":{"rendered":"

THIS DOCUMENT MAY NOT BE PUBLISHED, DISTRIBUTED, USED, IN WHOLE OR IN PART, DIRECTLY OR
\nINDIRECTLY, BY OR IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION
\nWHERE SUCH PUBLICATION, DISTRIBUTION AND\/OR USE WOULD VIOLATE THE LAWS OF THAT
\nJURISDICTION.
\nThis document does not constitute an offer prospectus, nor an admission document. This document does
\nnot constitute, nor should it be construed as, an offer to the public for subscription, purchase, sale, or
\nexchange, nor an invitation to make an offer for subscription, purchase, sale, or exchange, of securities.
\nThis document and the information contained herein have been prepared for information purposes only
\nand are in no way intended to constitute investment advice or a recommendation for investment in
\nfinancial instruments. Potential investors must not subscribe and\/or purchase the financial instruments
\ncovered by this document based on the information contained herein. There will be no public offer of
\nfinancial instruments in Italy or in any other country. Any private placement of the Company’s shares will
\nbe made in the context of the admission of the Company’s shares to AIM Italia, exclusively under the
\nexemption from the application of the laws and regulations on public offering and therefore the offer of
\nthe shares has not been and will not be subject to the approval of CONSOB or any other competent
\nauthority in Italy or abroad in accordance with the applicable regulations. No prospectus or other
\nequivalent information document will be published in connection with the admission of the Company’s
\nshares to AIM Italia.
\nPRESS RELEASE
\nEDILIZIACROBATICA S.p.A. RESOLVES TO CONVERT PAS SHARES INTO
\nORDINARY SHARES
\nGenoa, 20 May 2019 – The Board of Directors of EdiliziAcrobatica S.p.A. today approved the conversion of
\nthe PAS Shares.
\nIt is recalled that the Company, confident in its income generating capacity, had committed itself during the
\nIPO to reach an EBITDA 2018 target equal to Euro 4.2 million net of the effects of the listing process; in case
\nthe above mentioned threshold is not reached, the PAS (Price Adjustment Share) mechanism provided for
\nthe progressive cancellation up to 20% of the shares held by the historical shareholders. The financial year
\n2018 ended with the exceeding of this target for a normalized EBITDA 2018 (net of the accounting effects
\nof the listing) equal to approximately Euro 4.5 million.
\nThe Company, therefore, announces the resolution of the full conversion of the 1,200,000 shares Price
\nAdjustment Share (PAS), ISIN code IT0005351512, into ordinary shares ISIN code IT0005351504, in the ratio
\nof n. 1 (one) ordinary share for every n. 1 (one) Price Adjustment Share held. Following the conversion, the
\nCompany’s share capital consists of 7,725,300 ordinary shares, ISIN code IT0005351504.
\nThis conversion was resolved by the Board of Directors on 20 May 2019, after obtaining the favourable
\nopinion of the independent auditors Deloitte & Touche S.p.A. and will take place within 4 working days.
\nAs a result of the Conversion of the Price Adjustment Shares into ordinary shares, the Board of Directors
\nwill (a) make all the necessary communications in the centralised management system for financial
\ninstruments pursuant to Articles 83-bis et seq. of the Legislative Decree. 58\/1998, as subsequently
\namended, regarding the Conversion, the cancellation of the Price Adjustment Shares remaining after the
\nConversion and the issue of the ordinary shares; (b) file the text of the by-laws with the Companies’
\nRegister, pursuant to article 2436, paragraph 6, of the Italian Civil Code, with the consequent amendments,
\nincluding the modification of the total number of shares into which the share capital is divided, proceeding
\nwith all related formalities.
\nFor further information, please refer to the “PAS Prospectus” available on the company’s website
\nwww.ediliziacrobatica.com, section “Investor Relations”, within the terms of the law and Article 3 of the Bylaws.22- PRESS RELEASE – EDILIZIACROBATICA S.p.A. RESOLVES TO CONVERT PAS SHARES INTO ORDINARY SHARES 20.05.2019<\/a>Deborah Dirani
\nPress Office
\nufficiostampa@ediliziacrobatica.com
\nwww.ediliziacrobatica.com<\/p>\n

EdiliziAcrobatica SpA
\nDirectorate General
\nViale Brigate Partigiane 18\/2A
\n16129 Genova (GE)
\nMob: +39 393 8911364<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-1832062","investor-releases","type-investor-releases","status-publish"],"acf":[],"yoast_head":"\nPRESS RELEASE - EDILIZIACROBATICA S.p.A. RESOLVES TO CONVERT PAS SHARES INTO ORDINARY SHARES 20.05.2019 - EdiliziAcrobatica<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PRESS RELEASE - EDILIZIACROBATICA S.p.A. 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