Capital increase and new take over bid for Toscana Finanza
Given Banca IFIS S.p.A.’s dramatic increase in loan commitments and general growth trend, its Board of Directors has resolved to propose to the forthcoming Extraordinary Shareholders’ Meeting that this Board of Directors be delegated to execute an increase in Banca IFIS’s capital (as per art. 2443 of the Italian Civil Code), by offering existing shareholders a rights offering, divisible in tranches, up to a maximum amount of 50,000,000 Euro.
Banca IFIS’s Board of Directors, acting on the opportunity to proceed with the rights offering, has consequently decided to withdraw its pending application made to the Bank of Italy for clearance to purchase control of Toscana Finanza. In the light of this, a new framework agreement has been undersigned with Toscana Finanza’s reference shareholders