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17 October 2019 - 19:48Price sensitive

Press release October 17, 2019

ADVANCEMENT OF THE PROJECT FOR THE SEPARATION OF RETELIT GROUP’S ACTIVITIES INTO TWO ENTIRELY HELD SUBSIDIARIES REPLACEMENT OF DIRECTOR CIVIDINI

The Board of Directors of Retelit S.p.A. (“Retelit”), a leading provider of data services and infrastructure, in a meeting chaired today by Dario Pardi, considered the advancement of the project for the separation of the Retelit Group’s activities into two entirely held subsidiaries, one regarding services and the other infrastructure.

With regards to the advancement of the project for the separation of Retelit Group activities, as announced to the market on June 5, the Board of Directors of Retelit approved the conferment in kind of the business unit of Retelit involved in the AAE-1 submarine cable from Retelit S.p.A. to Retelit Digital Services S.p.A. (previously e-via S.p.A., “RDS”), a company entirely held by Retelit and the consequent proposal for a share capital increase of RDS, in support of the conferment, mandating the Chairman of the Board of Directors and the Chief Executive Officer to vote in favour of the proposal at the relative RDS Shareholders’ Meeting.

The share capital Increase proposal and the conferment, approved following the obtaining of the necessary authorisation - inter alia the approval of all members of the AAE-1 consortium - shall be submitted for the approval of the Extraordinary Shareholders’ Meeting of the sole shareholder Retelit, called for October 25.

In addition, following the sad premature passing of the director Mr. Luca Cividini on October 9, the Board of Directors, as per Article 2386 of the Civil Code, in addition to Article 17 of the By-Laws, began the necessary activities to co-opt a director from the minority slate presented on the appointment of the Board of Directors of Retelit on April 27, 2018, also following the contacts made with the shareholder presenting the minority slate, Fiber 4.0 S.p.A.

The Board of Directors and the Board of Statutory Auditors recall the much valued work and professional contribution made by Mr. Luca Cividini during his time in office.
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