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13 September 2017 at 10:49
The Extraordinary Meeting of the Shareholders of Reply S.p.A. [MTA, STAR: REY], held today, approved the splitting of ordinary shares of the Company and the introduction of double voting rights.
Approval of the proposal to split the ordinary shares.
The shareholders have approved the proposed to split the 9,352,857 outstanding ordinary shares, with a nominal value of € 0.52 each, into 37,411,428 newly issued ordinary shares, with a nominal value of € 0.13 each, having the same characteristics as outstanding ordinary shares, assigned in the ratio of four new shares in replacement of each existing ordinary share. In accordance with the above-mentioned resolution, the Meeting adopted the required changes in the Article of Association.
The stock split is expected to become effective as soon as the deliberative process is completed. Since the shares have been dematerialized, shareholders will not be required to take any action to receive their new shares; the procedure will take place automatically through intermediaries adhering to Monte Titoli S.p.A.
Adoption of the proposal to introduce the double voting rights.
The Extraordinary Shareholders' Meeting also approved the introduction of the double voting rights, as per art. 127-quinquies of the TUF, in accordance with the current legislative and regulatory framework, and approved the related amendments to the Article of Association.
Specifically, the new Article of Association provides for the assignment - contingent on the verification of the appropriate pre-requirements by the administrative body - of two votes for each ordinary share held by the same shareholder for an ongoing period of at least 24 months from the date of entry in a specific list created by the Company, in compliance with the current legislative and regulatory framework.
All information related to the double voting right will be available on the Company's website at the effective date of the changes of the Article of Association, in accordance with art. 127-quinquies of Legislative Decree no. 58/1998.
This press release is a translation, the Italian version will prevail.