THE EXTRAORDINARY TRANSACTION AIMED AT THE GROUP EQUITY STRENGTHENING, FINANCIAL REBALANCING AND INDUSTRIAL RELAUNCH HAS BEEN APPROVED
- THE TRANSACTION ALSO ENVISAGES A CAPITAL INCREASE OF 185 MILLION EURO IN TOTAL, PARTLY THROUGH RIGHTS ISSUE (UP TO 115€/MLN) AND PARTLY RESERVED (FOR 70€/MLN), OF WHICH AT LEAST 100 €/MLN TO BE SUBSCRIBED CASH, AND THE EQUITY INVESTMENT OF THE NEW INDUSTRIAL INVESTOR FEIDOS 11 WITH BUSINESS MANAGEMENT AND DEVELOPMENT RESPONSIBILITIES
- AN AGREEMENT HAS BEEN REACHED WITH THE LENDING ENTITIES ON DEBT RESCHEDULING
- ALSO THE SHAREHOLDERS PARTIES TO PRELIOS SHAREHOLDERS’ AGREEMENT SUPPORT THE TRANSACTION IN VIEW OF THE FUTURE CHANGES IN OWNERSHIP STRUCTURE FOLLOWING THE CAPITAL INCREASE
BOARD APPROVES 2013-2016 STRATEGIC PLAN INCLUDING THE FINANCIAL COMPONENT: REPOSITIONING AS PURE MANAGEMENT COMPANY THROUGH FOCUS ON SERVICES IN ITALY AND ABROAD AND GRADUAL DIVESTMENT OF CO-INVESTMENT ASSETS
- EBIT OF MANAGEMENT PLATFORM EQUAL TO 14-19 €/MLN IN 2014 AND TO 24-28 €/MLN IN 2016, DOUBLED AGAINST CURRENT VALUE
- NFP FALLING: BELOW 400 €/MLN IN 2014 AND BELOW 200 MLN/€ IN 2016, MORE THAN HALVED COMPARED TO CURRENT VALUE
BOARD APPROVES 2012 DRAFT SEPARATE AND CONSOLIDATED FINANCIAL STATEMENTS
- MANAGEMENT PLATFORM REVENUES: 124.9 €/MLN (149 €/MLN IN 2011)
- MANAGEMENT PLATFORM EBIT POSITIVE FOR 13 €/MLN (20.3 €/MLN IN 2011)
- OPERATING RESULT NEGATIVE FOR 72.1 MLN/€, OF WHICH OVER 66.1 MLN/€ ATTRIBUTABLE TO THE IMPAIRMENT TEST OF NPLs (5.7 €/MLN AT DECEMBER 2011, POSITIVELY IMPACTED BY SIGNIFICANT TRANSACTIONS)
- NET LOSS OF 241.7 €/MLN (-289.6 €/MLN AT 31 DECEMBER 2011), AS A RESULT OF REAL ESTATE WRITEDOWNS AND RESTRUCTURING COSTS FOR OVER 107 €/MLN
- NET FINANCIAL POSITION NEGATIVE FOR 520.5 €/MLN (513.2 €/MLN AT 30 NOVEMBER 2012, 488 €/MLN AT DECEMBER 2011)
THE SHAREHOLDERS’ MEETING, SCHEDULED FOR 8 MAY 2013, IS CALLED TO APPROVE ALSO THE EXTRAORDINARY TRANSACTION AND THE RENEWAL OF THE BOARD OF DIRECTORS AND THE BOARD OF STATUTORY AUDITORS
- CAPITAL INCREASE FOR 185 €/MLN, SUBJECT TO PRIOR GROUPING OF ORDINARY SHARES WITH 1:10 RATIO AND REDUCTION OF SHARE CAPITAL FOR LOSSES
- MANDATE TO BOARD FOR THE ISSUE OF A CONVERTIBLE LOAN UP TO 269 €/MLN
ANGELO CATTANEO APPOINTED BY THE BOARD AS FINANCIAL REPORTING OFFICER
Milan, 27 March 2013 – The Board of Directors of Prelios S.p.A., held on today’s date, examined and approved the 2012 Draft Financial Statements, that will be submitted to the next ordinary Shareholders’ Meeting.