Pirelli & C. Shareholders Agreement
Pirelli & C. Shares Sold By Rcs Mediagroup Distributed Among The Participants Of Pirelli & C. Spa Shareholders Agreement
Milan, 7 July 2004 - Pirelli & C. S.p.A informs that tomorrow 8th July Rizzoli Corriere della Sera MediaGroup S.p.A will sell pro quota n. 84.060.667 Pirelli & C. S.p.A ordinary shares and n. 63.045.500 Pirelli & C. S.p.A 2003-2006 ordinary shares Warrants, already transferred to the shareholders agreement by RCS MediaGroup, to the other participants of the Pirelli & C. shareholders agreement (except Sinpar S.A., which is not exercising its right to purchase).
The above mentioned stocks will be transferred as follows:
Shares purchased | Warrants purchased | |
CAMFIN SpA | 37.918.751 | 28.439.060 |
FONDIARIA - SAI SpA | 9.508.536 | 7.131.403 |
MEDIOBANCA SpA | 8.602.048 | 6.451.537 |
EDIZIONE HOLDING SpA | 8.601.717 | 6.451.288 |
R.A.S. SpA | 8.601.717 | 6.451.288 |
ASSICURAZIONI GENERALI SpA | 8.601.717 | 6.451.288 |
Massimo MORATTI | 2.226.181 | 1.669.636 |
Totale | 84.060.667 | 63.045.500 |
The price will be 0.825 Euro per share, corresponding - as established by the agreement - to the average Stock Exchange price during the last three months, and 0.090 Euro per warrant.
Taking into account that, after the above purchasing, Camfin S.p.A will confer to Pirelli & C. shareholders agreement the 42.31% of the total shares under restriction, in order to preserve the balance guaranteed so far by the agreement itself, the participants have agreed that the Shareholders Agreement Executive Committee will no longer approve its resolutions with the favourable vote of at least "three fifth of the shares transferred", but just by the members representing the majority of the shares.