Safilo, shares up on the renewal of license agreements

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    Great day for Safilo – january the 3rd – who jumped with a + 15% to Piazza Affari (Milano’s stock exchange). The Group has announced that Multibrands Italy, the company’s main shareholder (controlled by HAL Holding N.V.), has maintained the commitment made on September 26th regarding the capital increase.

    In the morning Kepler-Cheuvreux – pan-European leader on the stock market – has lifted up recommendation from “reduce” to “hold”, for a target price set at 0.80 euros. In the last year the famous eyewear manufacturer has lost 75% of its value.

    On the same day, the option offer of a maximum of 213,043,881 newly issued ordinary shares ended, for a total countervalue of € 149.98 million. These were due to the capital increase approved by the Extraordinary Shareholders’ Meeting of October 29, 2018.

    In particular, 50,580,195 option rights exercised, for the subscription of 171,972,663 new shares. This is about 80.7% of the total, for a total countervalue of € 121.068.754,76.

    25,193,337 new shares therefore remained unopted for a value of approximately € 17.74 million. These were subscribed by Multibrands, which thus holds 50.7% of the share capital of Safilo after the capital increase.

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