Approval of results as at September 30, 2018
State of closing with Cyber 1
Ravenna, February 28, 2019 – As a partial integration to the press release of January 30, 2019 regarding the calendar of corporate events for the 2019 fiscal year, please note that the results for the semester that ended September 30, 2018 will be approved along with the Financial Statements for the year ended December 31, 2018.
The reason for this difference in timing lies in the delay of the closing of the sale of the Itway Hellas SA and Itway Turkyie Ltd subsidiaries to Cyber 1 (formerly Cognosec), a company listed on Nasdaq (COGS OTC-Nasdaq Intl. Designation: CYBNY). The postponement has been requested by Cyber 1 due to the delay in obtaining bank guarantees agreed when the Share Sale and Purchase Agreement was signed, as integrated and modified.
Considering the ongoing stalemate, Itway sent to its counterparty a letter of formal notice. However, to the date of the writing of the current press release, Itway, even if it does not rule other possibilities, continues to tolerate this contractual non-compliance by the counterparty as it has reason to believe that Cyber 1 is continuing to work towards the closing as soon as possible.
Founded in Ravenna on July 4, 1996, Itway S.p.A. is the parent of a group that operates in the IT sector through the planning, production and distribution of technologies and solutions in the cyber security sector, cloud computing and big data. The group for over 20 years has represented a reference point in terms of solutions and services for digital transformation. Since 2001 Itway has been listed on the STAR segment of Borsa Italiana. www.itway.com
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