17 October 2014 19:37
Price Sensitive extraordinary operations

The Offering Period of the share capital increase has been successfully completed, with the subscription of a percentage equal to 99.75%, for an amount equal to Euro 199,180,906.89.

Unexercised option rights to be offered on the Milan Stock Exchange starting from 21 October 2014

IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. (“IGD”) announces that the rights offering of maximum No. 396,186,629 newly issued IGD ordinary shares (the “Shares”) has been completed today.

During the offering period, which started on 29 September 2014 and ended on 17 October 2014 included, (the “Offering Period”), No. 359,272,920 rights were exercised for the subscription of No. 395,200,212 Shares, equal to the 99.75% of the total offered Shares, for a total amount equal to Euro 199,180,906.89.

In particular, in compliance with their subscription undertakings, Coop Adriatica S.c.a r.l. and Unicoop Tirreno Soc. Coop., IGD’s shareholders, for an aggregate percentage equal to approximately 56,92% of IGD share capital, have subscribed in full their respective portions of the share capital increase, for a total amount of approximately Euro 114 million.

The No. 896,740 Option rights that were not exercised during the Offering Period (the “Unexercised Rights”), related to the subscription of No. 986,414 newly issued shares, corresponding to a percentage equal to 0.25% of the total Shares offered, for a total amount equal to Euro 497,152,66, will be offered on the Milan Stock Exchange pursuant to Article 2441, third paragraph of the Italian Civil Code, by Exane during the trading sessions of 21, 22, 23, 24 and 27 October 2014, except in case of early closing (the “Offer to the Market”). All Unexercised Rights will be offered during the first trading session; any residual Unexercised Rights will be offered in the following trading sessions.

The Unexercised Rights may be used to subscribe the Shares, at a price of Euro 0.504 per share based on a ratio of no. 11 Shares for every No. 10 Unexercised Rights.

The exercise of the Unexercised Rights purchased during the Offering Period and, therefore, the subscription of the relevant Shares, shall be carried out exclusively through authorized intermediaries members of the centralized management system of Monte Titoli S.p.A. under penalty of forfeiture, by and no later than 28 October 2014, with the same value date, except in the event of early closing of the Offer to the Market, following the sale of all the Unexercised Rights offered during the first or the second trading session.

Settlement date in the event of early closing of the Offer to the Market

In case of early closing of Offer to the Market, the Unexercised Rights purchased under the abovementioned offering must be exercised in advance, under penalty of forfeiture, by and no later than the third trading day following the early closing notification, and therefore:

– by and no later than the 24 October 2014, with the same value, in the event of early closure on 21 October 2014;

– by and no later than the 27 October 2014, with the same value, in the event of early closure on 22 October 2014.

In any case, it is understood that if the Unexercised Rights being offered are not all sold during the first two trading days mentioned above (i.e. at the sessions on 21 and 22 October 2014), the deadline for subscription of the Shares will still fall on 28 October 2014.

The Shares obtained by exercising the Unexercised Rights will be deposited on the accounts held by the authorized intermediaries members of the centralized management system of Monte Titoli S.p.A. at the end of the accounting date of the last Unexercised Rights exercise day and will therefore be made available on the following settlement day.

Please note that the offering of maximum no. 396,186,629 Shares, for a total amount of Euro 199,678,061.02 is completely guaranteed, as BNP Paribas, as Sole Global Coordinator and Joint Bookrunner, and Banca IMI, as Joint Bookrunner, have undertaken, under terms and conditions customary for similar transactions, to subscribe the newly issued Shares for an amount equal to the Unexercised Rights up to the total amount of the Offer to the Market, taking into consideration the shares subscribed by Coop Adriatica S.c.a r.l. and Unicoop Tirreno Soc. Coop.

The Registration Document, the Information Note and the Summary Note are available at the registered office of IGD, in Ravenna, via Agro Pontino, n. 13, as well as on the website of IGD www.gruppoigd.it .