03
June
2003
|
00:00
Europe/Amsterdam

Pirelli & C. Spa Final data on the withdrawal ("Recesso") of shareholders

PIRELLI & C. SPA: FINAL DATA ON THE WITHDRAWAL (" RECESSO" )
OF SHAREHOLDERS:

  • WITHDRAWAL RIGHTS EXERCISED BY SERFIS FOR 9.9%, BY CO.FI.TO. FOR 2.1% AND BY MARKET FOR 7% OF SHARES CAPITAL

  • REDEMPTION VALUE: 162.6 MILLION EUROS, PAYABLE FROM 6 JUNE 2003

  • AFTER THE CANCELLATION OF REDEEMED SHARES, THE SHARE CAPITAL OF PIRELLI & C. S.P.A. WILL AMOUNT TO 272,082,689.84 EUROS DIVIDED INTO 502,051,533 ORDINARY AND 21,184,409 SAVINGS SHARES WITH A PAR VALUE OF 0.52 EACH

Milan, 3 june 2003 - Pirelli & C. SpA hereby makes known the final data on the withdrawal ("recesso") rights exercised by shareholders following the resolutions on the transformation of the Company and the change to its business purposes passed by the extraordinary Shareholders' Meeting on 7 May 2003.
The right of withdrawal was exercised by 758 shareholders for an overall amount of 129,500,161 Pirelli & C. shares.
In particular, as already known by market, Serfis SpA exercised withdrawal rights for 9.9% of shares capital; CO.FI.TO., as already communicated, for 2.1% of shares capital, while the market exercised withdrawal rights for 7% of shares capital.
Withdrawal operations concerned:

  • 116,266,313 ordinary shares, with a gross redemption price per share of 1.264;
  • 13,233,848 savings shares, with a gross redemption price per share of 1.184

The total value of the redemption, including taxation, amounts to 162,629,495.66 euros and will be paid to the shareholders who exercised their withdrawal rights on 6 June 2003, at the offices of the intermediaries through whom the right of withdrawal was exercised. Legal interest has been recognised on the foregoing sum (at the rate of 3% per annum) from 7 May until 6 June 2003.
The Company will cancel Pirelli & C. shares, with respect to which the right of withdrawal was exercised, immediately upon payment, with a corresponding reduction in the Companys share capital. After this operation, the share capital of Pirelli & C. SpA will amount to 272,082,689.84 euros divided into 523,235,942 shares with a par value of 0.52 each, of which 502,051,533 ordinary and 21,184,409 savings shares.


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