IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. (\u201cIGD\u201d or the \u201cCompany\u201d),
\nfollowing the press release published on 8 July 2014, announces that today the Extraordinary Shareholders\u2019
\nMeeting, held on first call in a meeting chaired by Gilberto Coffari, has resolved to increase the share capital,
\nagainst payment, in divisible form, for up to Euro 200 million (including the relevant share premium, if any) to be
\ncompleted by 31 March 2015 through the issue of ordinary shares with no par value and regular entitlement (the
\n\u201cShare Capital Increase\u201d). The new shares will be offered on a pre-emptive basis to shareholders pursuant to
\nArt. 2441, first paragraph, of the Italian Civil Code, in proportion to the number of shares held.
\nThe Board of Directors will determine, on or around the launch date, in accordance with standard market
\npractices, the subscription price, the relevant share premium, if any, the number of newly issued shares and the
\nissue ratio.
\nThe Share Capital Increase is aimed at strengthening the economic and financial structure of the Company and
\nthe Group, supporting the relevant growth and investment targets.
\nIn particular, the Share Capital Increase will allow the Company to reduce its financial leverage, in advance with
\nrespect to the deleveraging targets provided by the Business Plan 2014 \u2013 2016, and to stabilize the financial
\nprofile of the Company in order to align it with the main financial indebtedness indicators (Loan To Value, Interest
\nCover Ratio, unencumbered real estate) as observed in European real estate retail operators.
\nFurthermore, the Share Capital Increase will also contribute to improve over time the access to debt capital
\nmarkets, as an additional source of funding with respect to banking indebtedness, also through an enhancement
\nof the equity story of growth and creation of value of the Company.
\nMoreover, the increase in the market capitalization resulting from the Share Capital Increase will represent a
\nfurther element of visibility and liquidity for the IGD shares, with consequential expected effects on the value
\nthereof.
\nIn line with the aforementioned growth and investment targets, part of the proceeds of the Share Capital Increase
\nwill be used to wholly fund the real estate acquisition by the Company, already disclosed to the market on 8 July
\n2014, of a portfolio comprising a Shopping Center and three Hypermarkets owned by Coop Adriatica S.c.ar.l.
\n(\u201cCoop Adriatica\u201d) as well as two Supermarkets owned by Unicoop Tirreno Societ\u00e0 Cooperativa (\u201cUnicoop
\nTirreno\u201d), for an aggregate counter-value equal to approximately Euro 94.765 million (of which Euro 92.665
\nmillion concerning the purchase price of the real estate assets plus transfer taxes and additional expenses
\nestimated in an amount equal to Euro 2.1 million), together with a lease of the Hypermarkets and being
\npurchased Supermarkets. Please be reminded that the aforementioned real estate acquisition is conditional upon
\nthe full subscription of the Share Capital Increase and will be perfected immediately thereafter.
\nCoop Adriatica and Unicoop Tirreno, IGD\u2019s majority shareholders, have undertaken to subscribe in full their
\nrespective portions of the Share Capital Increase (which respectively amount to approximately 43.99% and
\n12.93%), for an aggregate percentage equal to approximately 56.92% and an aggregate counter-value equal to
\napproximately Euro 114 million.
\nAs far as the residual amount is concerned, the offer shall be assisted by an underwriting syndicate promoted,
\ncoordinated and managed by BNP Paribas, which has already undertaken a pre-underwriting commitment in
\nrespect of the unsubscribed shares.
\nSubject to the required authorizations from competent authorities, the offering period for the subscription of the
\nnewly issued shares is expected to be completed by October 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
IGD\u00a0announces that today the Extraordinary Shareholders\u2019 Meeting, held on first call in a meeting chaired by Gilberto Coffari, has resolved to increase the share capital, against payment<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[94],"class_list":["post-9120","post","type-post","status-publish","format-standard","hentry","category-price-sensitive-en","tag-operazioni-straordinarie-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9120","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\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/comments?post=9120"}],"version-history":[{"count":2,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9120\/revisions"}],"predecessor-version":[{"id":9928,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9120\/revisions\/9928"}],"wp:attachment":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media?parent=9120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/categories?post=9120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/tags?post=9120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}