SICIT Group announces that today the merger by absorption of SICIT 2000 into SprintItaly has become effective.
As of today, the ordinary shares and warrants of the Company – which has taken the registered name “SICIT Group S.p.A.” – are traded on the AIM Italia.
- Today’s listing on the Italian Stock Exchange will allow to increase the visibility on world markets and to complete the medium-long term industrial project in high growth sectors.
- Completion of the 100-million-euro business combination with SprintItaly aimed at accelerating SICIT’s strategic development plan in Italy and abroad, boosting existing plants and R&D laboratory, as well as building a new production plant in South America.
- Thanks to its resilience and international leadership position, favoured by a “green” business model based on the circular economy, SICIT expects to grow at a high rate in the coming years, so as to continue to create value for investors.
May 20 is also the date:
- of settlement of the withdrawal rights exercised by the shareholders of SpI in relation to the Merger (and of the related option and pre-emption right);
- of effectiveness of the extraordinary dividend in favour of the ordinary and special shareholders of SpI (before the Merger);
- of start of the grouping of the ordinary and special shares of SpI (before the Merger).
SICIT Group’s listing on the Italian Stock Exchange is the result of the business combination – carried out through the Merger – with SpI, the Italian SPAC created by the mix of the distinctive and complementary characteristics of its founders, Fineurop S.p.A., Gerardo Braggiotti, Matteo Carlotti and Francesco Pintucci, who boast managerial success stories and more than twenty years of experience in extraordinary finance and private equity transactions.
A 100-million-euro operation aimed at accelerating the Company’s strategic development plan in Italy and abroad, boosting the existing plants in Arzignano (VI) and Chiampo (VI), the R&D laboratory and building a new production plant in South America. The project has been completed so quickly as SICIT is an Italian SME of excellence with a solid international market position in high growth sectors, thus generating strong profitability. Moreover, the company’s management – which remains in the capital and takes part in the new development stage – is highly skilled and has a clear long-term strategic vision.
Massimo Neresini, CEO of SICIT, said: “Today is a day of fundamental importance for SICIT and for the entire tanning district of Vicenza. The completion of the business combination with SprintItaly and the listing take place in a strategic key, to accelerate and strengthen the long-term growth path undertaken. From now on we will be even more visible on the international markets, being able to develop in a few years the important industrial plan approved”.
Gerardo Braggiotti, Chairman of SprintItaly’s Board of Directors, commented: “The full completion of the operation in just five months witnesses the confidence that our investors placed in a company that combines all the characteristics we were looking for: innovation, solid market positioning and high growth potential. A new development stage is starting today, which – we are sure – will allow to create value in the future for all shareholders“.