Milan, 25 September 2015 – An increase in the share capital reserved for SIA executives through the issue of 1,410,253 new shares has been fully underwritten. The shares have a nominal value of 0.13 euro each, with a total value of approximately 6 million euro including the share premium.
The special category shares issued will give dividend rights but cannot be transferred for a maximum period of 36 months with effect from the date of underwriting (lock-up period) and do not confer voting rights in the Shareholder’s Meeting.
This operation forms part of the stock co-investment plan approved by the Board of Directors of the company on 25 June last, and by the Shareholder’s Meeting of 23 July.
SIA’s main shareholders are Fondo Strategico Italiano (FSI), F2i SGR and Orizzonte SGR.
The aim of the plan is to align the interests of the management with those of the shareholders for the 2015-2017 Business Plan, which provides for the increase of turnover and the preservation of profitability, through the strengthening of the competitive position in the electronic payments sector, particularly at international level, also with a view to a future IPO.
Following this issue, the new share capital of SIA totals 22,274,619.51 euro divided into 171,343,227 shares.
“This important result will enable the process of transformation to continue, with SIA having affirmed itself in its home market, and now more than ever aiming towards the European and global markets –commented Giuliano Asperti, Chairman of SIA – The share capital increase, fully underwritten by the executive management, represents further confirmation of the strong commitment to achieving the corporate objectives of the management itself which, following the arrival of new shareholders last year, will thus be able to fully exploit future strategic opportunities”.