{"id":25140,"date":"2019-11-11T11:23:21","date_gmt":"2019-11-11T10:23:21","guid":{"rendered":"https:\/\/www.gruppoigd.it\/?p=25140"},"modified":"2019-11-11T11:26:27","modified_gmt":"2019-11-11T10:26:27","slug":"approval-of-the-proposal-of-voluntary-share-capital-reduction-through-full-allocation-to-legal-reserve-and-available-equity-reserve","status":"publish","type":"post","link":"https:\/\/www.gruppoigd.it\/en\/approval-of-the-proposal-of-voluntary-share-capital-reduction-through-full-allocation-to-legal-reserve-and-available-equity-reserve\/","title":{"rendered":"Approval of the proposal of voluntary share capital reduction through full allocation to legal reserve and available equity reserve"},"content":{"rendered":"<p>The Extraordinary Shareholders\u2019 Meeting of IGD \u2013 Immobiliare Grande Distribuzione SIIQ S.p.A. (\u201c<strong>IGD<\/strong>\u201d or the \u201c<strong>Company<\/strong>\u201d), held today and chaired by Elio Gasperoni, approved the voluntary reduction of the share capital, pursuant to and for the purposes of Article 2445 of the Italian Civil Code, from EUR 749,738,139.26 to EUR 650,000,000.00. In particular, the share capital reduction, for a total amount of EUR 99,738,139.26, will be carried out by allocating EUR 8,154,918.00 to the legal reserve and EUR 91,583,221.26 to a newly established available equity reserve, without proceeding to any repayment of capital to the shareholders. IGD will promptly inform the public of the execution of the share capital reduction.<\/p>\n<p>The reduction is aimed at giving greater flexibility to the equity structure, through the increase of the unavailable legal reserve and the simultaneous establishment of an available and distributable reserve, also in order to combine the features of the SIIQ regime (and in particular the obligation to distribute 70% of the profit deriving from the exempt business operation) with the expectations of the capital market (return on invested capital or dividend yield).<\/p>\n<p><strong>It shall be noted that such transaction, neutral from an equity standpoint, does not modify the targets of the 2019\u20132021 Strategic Plan nor the dividend policy contained therein.<\/strong><\/p>\n<p>For more information on the share capital reduction, please refer to the Board of Directors\u2019 report made available at the Company\u2019s registered office, on the website <a href=\"https:\/\/www.gruppoigd.it\">www.gruppoigd.it<\/a> in <em>Governance \u2013 Shareholders\u2019 Meetings <\/em>section, as well as on the authorized storage system eMarket STORAGE, available at <a href=\"http:\/\/www.emarketstorage.com\" target=\"_blank\" rel=\"noopener\">www.emarketstorage.com<\/a>, managed by Spafid Connect S.p.A. and in accordance with the further modalities set by law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Extraordinary Shareholders\u2019 Meeting of IGD \u2013 Immobiliare Grande Distribuzione SIIQ S.p.A. (\u201cIGD\u201d or the \u201cCompany\u201d), held today and chaired by Elio Gasperoni, approved the voluntary reduction of the share capital, pursuant to and for the purposes of Article 2445 of the Italian Civil Code, from EUR 749,738,139.26 to EUR 650,000,000.00. In particular, the share [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-25140","post","type-post","status-publish","format-standard","hentry","category-price-sensitive-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/25140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/comments?post=25140"}],"version-history":[{"count":1,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/25140\/revisions"}],"predecessor-version":[{"id":25143,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/25140\/revisions\/25143"}],"wp:attachment":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media?parent=25140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/categories?post=25140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/tags?post=25140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}