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Issuance of Warrant

Warrants Tecnoinvestimenti 2016-2019 offered for subscription to Cedacri

On 4 February 2016, the Tecnoinvestimenti Shareholders’ Extraordinary Meeting approved, in order to strengthen the strategic role of the partner CEDACRI within the Group, the issuance of a maximum of 951,000 warrants assigned for free named “2016-2019 Tecnoinvestimenti Warrants”. Such Warrants were to be offered to CEDACRI according to the progressive modalities and in the terms provided in the related “2016-2019 Tecnoinvestimenti Warrant Regulation” (the “Regulation”). CEDACRI, in fact, has started and undertakes industrial collaboration with the companies of the Tecnoinvestimenti Group. As per the Regulation, in September 2017 Cedacri exercised 317,000 warrants for the issuance of a corresponding number of Ordinary Shares at a price of €3.40/share. These actions were undertaken following the Board of Directors’ resolution of 11 October 2017 in execution of the resolution of the Shareholders’ Meeting of 4 February 2016. The new Share capital amounts to €46,573,120, consisting of 46,573,120 shares without nominal value. For complete information, please refer to the Regulation.

Regulations applicable to Tecnoinvestimenti 2016-2019 warrants