ALLOCATION OF NEW ORDINARY SHARES IT WAY S.P.A. AND CHANGE IN SHARE CAPITAL FOLLOWING THE REQUEST FOR PARTIAL CONVERSION OF THE FIRST TRANCHE OF THE BOND LOAN, ISSUED ON 15 DECEMBER 2020, IN FAVOUR OF NICE & GREEN
Conversion of 20 bonds relating to the first tranche
Ravenna, 10 February 2021 – Itway S.p.A. (“Itway” or the “Company”), chief operating group active in the IT sector, Cyber Security, AI and Big Data, listed on the Electronic Stock Market, organized and managed by Borsa Italiana S.p.A., announces that today 286,286 new ordinary shares have been issued following the request for partial conversion of 20 bonds received on 8 February 2021 by Nice & Green SA (“Nice & Green” or “N&G”) , converted to the total equivalent of Euro 200,000 nominals.
The 20 bonds converted are part of the first tranche of 50 bonds, issued on 15 December 2020, of the convertible bond issue (the “Loan”) relating to the contract concluded between Itway and Nice & Green on 5 August 2020 (the “Contract”), the terms and conditions of which were indicated in the press releases of 6 August, 14 August, 20 August and 30 October 2020 and published on the Company’s website.
The number of shares converted was determined in accordance with the dictates of the Contract on the basis of 91% of the minimum price (defined as the VWAP i.e. the weighted average price volume) recorded in the 8 days of the open stock exchange prior to the date of request for the conversion. The price thus determined was Equal to Euro 0.6986 per share generating the issue in favor of N&G of 286,286 shares, with regular enjoyment as well as rights and characteristics equal to those in circulation today, equal to 3.49% of the share capital after the increase.
The attestation of the partial execution of the increase in share capital in service of the partial conversion of the Bond Loan will be deposited with the Milan Business Register in the terms and in the manner of the law.
As a result of the above, the nominal value of the share capital will increase by Euro 143,143 and the share capital will be 4,095,802 Euros, while the total number of shares of the Company will be 8,191,604 shares.
With reference to the first tranche of the bond issue, there is a residual of 30 bonds still to be converted for a nominal euro 300,000.
This press release is available at the headquarters and on the Company’s website at www.itway.com, at the Italian Stock Exchange and at the centralized authorized storage mechanism called “Emarket Storage” managed by Spafid Connect SpA, and can be consulted at ‘address www.emarketstorage.com
Established in Ravenna on 4 July 1996, Itway S.p.A. is the head of a group that operates in the IT sector for the design, production and distribution of technologies and solutions in the cybersecurity, artificial intelligence (AI) cloud computing and big data sectors. The group, for over 25 years, has been the reference point in the field of Digital Transformation solutions and services. Itway has been listed on the Italian Stock Exchange since 2001.
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