Brief: Esautomotion Announces Signing Of Sangalli Servomotori Investment Agreement

Esautomotion SpA

22/04/2023 20:27

April 22 (Reuters) - Esautomotion SpA  ESAU.MI :
    * SIGNING OF SANGALLI SERVOMOTORI INVESTMENT AGREEMENT
    * A TOTAL PRICE OF EURO 10,000,000, MINUS ANY POSITIVE NET
FINANCIAL POSITION OF NEWCO AS AT 7 JULY 2023
    * PRICE WILL BE PAID PARTLY IN CASH AND PARTLY IN
ESAUTOMOTION
SHARES
    * SIGNED INVESTMENT AGREEMENT, SHAREHOLDERS' AGREEMENT WITH
SANGALLI SERVOMOTORI, ELETTROMECCANICA VITTORIO SANGALLI AND
MASSIMO SANGALLI
    * ACQUISITION BY COMPANY OF SANGALLI'S BUSINESS THROUGH
PURCHASE
OF ENTIRE SHARE CAPITAL OF A NEWLY ESTABLISHED COMPANY
    * ON EXECUTION DATE, 65% OF SHARE CAPITAL OF NEWCO WILL BE
ACQUIRED, AGAINST WHICH COMPANY WILL PAY 65% OF PRELIMINARY
PRICE
    * GRANTING OF A CALL OPTION BY SANGALLI TO ESAUTOMOTION
CONCERNING
A STAKE EQUAL TO 35% OF SHARE CAPITAL OF NEWCO
    * UPON COMPLETION, SANGALLI'S FAMILY WILL OWN 603,500 SHARES
OF
ESAUTOMOTION EQUAL TO 4.99% OF SHARE EGM CAPITAL, 4.05% OF
VOTING RIGHTS

Source text for Eikon:  ID:nBIA6Yj63g 
Further company coverage:  ESAU.MI 

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