Compagnie Industriali Riunite S.p.A.

Equities

CIR

IT0000080447

Delayed Borsa Italiana Other stock markets			5-day change	1st Jan Change
- ^EUR	-.--%		-47.70%	-45.68%

Apr. 22	CIR bought back own shares for EUR609,000 approx.	AN
Apr. 15	CIR goes ahead with buybacks of its own ordinary shares	AN

CIR : announces offer for its 2024 Notes

September 08, 2014 at 03:05 pm EDT

CIR announces offer for its 2024 Notes

CIR ANNOUNCES TENDER OFFER AND PROPOSAL FOR ITS 2024 €300MN 5.75% NOTES (€210,162,000 OUTSTANDING)

Milan, 8 September 2014 - CIR Sp.A. - Compagnie Industriali Riunite (the Company) today announces that it is inviting eligible Noteholders of its €300,000,000 5.75 per cent. Notes due 2024 (the Notes) to tender their Notes for purchase by the Company for cash (such invitation, the Offer) and to approve, by Extraordinary Resolution, certain modifications to the terms and conditions of the Notes (the Conditions of the Notes) to provide for the Company to redeem (the Issuer Early Redemption) all, but not some only, of the Notes remaining (if any) on completion of the Offer (together, the Proposal). The outstanding nominal amount of the Notes is €210,162,000.

The offer period will begin on 9 September 2014 and will end on 1 October 2014. The Meeting of the Noteholders to approve the Extraordinary Resolution will convene in Milan on 13 October 2014. The majority required for the approval of the Extraordinary Resolution is the higher of (i) 50 per cent. of the aggregate principal amount of the Notes for the time being outstanding, and (ii) the two thirds of the Notes represented at the Meeting.

The Offer and the Proposal are being made as part of a more efficient liquidity management of CIR.

The Offer and the Proposal are made on the terms and subject to the conditions contained in the tender offer memorandum dated 9 September 2014 (the Tender Offer Memorandum) including, in the case of the Offer, the offer and distribution restrictions described below and set out more fully in the Tender Offer Memorandum. Copies of the Tender Offer Memorandum are available from the Tender Agent as set out below. Capitalised terms used in this announcement and not otherwise defined have the meaning given to them in the Tender Offer Memorandum.

Notes	ISIN	Outstanding Nominal Amount	Tender consideration	Early Redemption Amount	Consent Amount	Amount subject to the Offer
€300,000,000 5.75 per cent. Notes due 2024	XS0207766170	€210,162,000	108.0 per cent. of the nominal amount of the Notes plus Accrued Interest	107.0 per cent. of the nominal amount of the Notes plus Accrued Interest	1 per cent. of the nominal amount of the relevant Notes subject to, inter alia, the passing of the Extraordinary Resolution	Total outstanding amount

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Latest news about Compagnie Industriali Riunite S.p.A.

CIR bought back own shares for EUR609,000 approx.	Apr. 22	AN
CIR goes ahead with buybacks of its own ordinary shares	Apr. 15	AN
CIR buys back own ordinary shares for over EUR160,000	Apr. 08	AN
CIR goes ahead with buybacks of its own ordinary shares	Apr. 03	AN
CIR goes ahead with buybacks of its own ordinary shares	Mar. 29	AN
CIR has purchased treasury shares for more than EUR610,000	Mar. 25	AN
BlackRock and Capital Fund exceed 0.5 percent on TIM	Mar. 21	AN
CIR purchases 1.9 million of its own ordinary shares	Mar. 18	AN
CIR goes ahead with buybacks as part of its buyback plan	Mar. 11	AN
CIR returns to profit and improves indicators in 2023	Mar. 11	AN
CIR goes ahead with buybacks with substantial share buyback	Mar. 04	AN
CIR has purchased more than one million of its own shares	Feb. 26	AN
Sogefi soars after accounts and Filtration deal	Feb. 26	AN
Marshall Wace cuts short on Saipem	Feb. 23	AN
CIR has purchased more than 820,000 of its own ordinary shares	Feb. 20	AN
Futures on "sell" side; UK inflation stable	Feb. 14	AN
Mib bearish in 31,100 area; Saipem stays afloat	Feb. 13	AN
CIR has purchased nearly 600,000 of its own ordinary shares	Feb. 12	AN
CIR goes ahead with its share buyback program	Feb. 05	AN
CIR ahead with buybacks, bought back own shares for over EUR100,000	Jan. 30	AN
CIR has purchased more than 521,000 of its own ordinary shares	Jan. 22	AN
CIR goes ahead with its share buyback program	Jan. 15	AN
CIR continues with buybacks of its own ordinary shares	Jan. 09	AN
CIR goes ahead with its share buyback program	Jan. 04	AN
CIR continues purchases as part of buyback program	Dec. 27	AN

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Company Profile

CIR SpA Compagnie Industriali Riunite is an Italy-based company. The Company structures its business into five sectors: Energy, Media, Automotive Components, Healthcare and Non-core Investments. In the Energy sector, the Company is active in the generation of electrical power and distribution of natural gas. The Media sector is focused on publishing, radio, television and Internet portals operation. The Automotive Components sector is primarily engaged in the production of engine systems and suspension components. In the Healthcare sector, the Company is active in the operation of nursing homes and rehabilitation centers, as well as in the provision of hi-tech medical services, such as diagnostic imagining, nuclear medicine and radio therapy. In the Non-core Investments sector, the Company is involved in venture capital funds, private equity funds and other investments.

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