1) Net Financial Position, with current and non-current items reported separately.
Prelios Group Net Financial Position at 31 July 2013 is negative for 372.1 million euro, compared to -562.3 million euro at June 2013.
The value at 31 July 2013 factors in the effects of the capital increase transaction limitedly to the portion “reserved capital increase in cash” already completed at that date, equal to 70,006,000euro. As the capital increase with option rights was not yet completed at 31 July 2013 (which has been subsequently finalized on 23 August), the group assumed, against the commitments undertaken by lenders, the conversion of outstanding receivables for 85,000,000 euro - an amount corresponding to the maximum subscription guarantee - and, consequently, an amount of the compulsory convertible debentures (“Convertible Loan”) of a nominal value of 225,979,000 euro. Such assumptions have been made independently from the actual subscription of the capital increase with option rights by shareholders and by the market.
For the sake of completeness, it should be noted that, following completion of the capital increase transaction, the Company has been assured a capital increase in cash for 115,427,000euro (of which 70,006,000 euro following the reserved capital increase and 45,421,000 euro following the capital increase with option rights) and, therefore, the actual amount of the outstanding receivables converted into equity by lenders, thus fulfilling their commitments, has been equal to 69,588,000 euro while the Convertible Loan has been issued for an amount equal to a nominal value of 233,534,000 euro.