Today, Banca IFIS S.p.A., as Offeror (the”Offeror”), successfully concluded the voluntary public offer to purchase (the “Offer”) nr. 30,594,476 ordinary shares representing the entire share capital of Toscana Finanza S.p.A. (the “Issuer”).
More specifically, as of today, (the tender offer acceptance period closing date, the “Acceptance Period”), the Shares tendered into the Bid a total of nr. 23,636,994 ordinary shares of the Issuer representing 77,26% of the share capital of the Issuer, taking into account, nr. 15,609,349 ordinary shares representing 51.02% of the shares object of the Offer tendered into the Bid by the Present Shareholder and including 499, 715 own shares representing 1.63% of the Issuer’s share capital, also tendered pursuant to the Offer.
The cash offer price for each ordinary share of the Issuer tendered under the Offer, of Euro 1.50 per share, for a total amount of Euro 35,455,491 will be paid to those tendering on 17 May 2011 (the “Payment Date”), in exchange for the simultaneous transfer of the full ownership of the shares.
Furthermore, although the requisites for delisting Toscana Finanza shares pursuant to Articles 108 and 111 of the TUF have not yet been met, the Offeror aims to perfect the merger by absorption of Toscana Finanza in Banca IFIS, with the concurrent demerger to Fast Finance.