PRESS RELEASE
MARKET DISCLOSURE
Milan, October 17, 2012 - Dmail Group S.p.A., a company listed in the MTA of Borsa Italiana (the "Company"), informs that the Board of Directors of the Company met earlier today, under the chair of Ing. Angelo Rodolfi, for an update on the asset, economic and financial situation of the Company and the Group and on the progress of the settlement procedure. On 27 September 2012 the Company filed with the court of jurisdiction of Milan an application for automatic stay procedure within the meaning of Article 161 (6) of R.D. 267 dated 16 March 1942 (the "Bankruptcy Bill") , as amended by law no. 134 of 7 August 2012, and, on 28 September, such application was published on the Register of Companies of Milan.
The Company also informs that, at the time being, neither any of the reference shareholders has expressed their intention to subscribe the capital increase of the Company, nor any concrete interest has been expressed by any third party, up to the minimum amount needed to recover the company's economic and financial balance.
In the light of the above, and unless any alternative
recapitalisation proposals suitable to allow the continuation
of the company's activities (which will be promptly
communicated to the market) are put forward, the
Shareholders' Meeting to be held in extraordinary session on
the days 26, 29 and 30 October
2012, respectively on a first, second and third calling,
could resolve for the liquidation of the Company and the
appointment of a liquidators' board, consisting of one or
more liquidators, appointed among the candidates put forward
by the shareholders during the meeting, and working in
accordance with the law.
With regard to this point, pursuant to Article 2.5.1 of the
Regulations of Organized Markets Managed by Borsa Italiana
S.p.A., as a consequence of the resolution to liquidate the
Company or of the approval of an arrangement with creditors,
Borsa Italiana could decide for indefinite period suspension
from negotiations of the Company's shares from the MTA.
In the light of the above, the Company is currently committed
to identifying potential parties interested in purchasing the
Company's assets. In particular, the Company is searching for
offers by parties interested in purchasing the publishing
activities of the subsidiary DMedia Group S.p.A. and the
retail multi-channel sales sector activities of the
subsidiary Dmedia Commerce S.p.A. For such purpose the
Company appointed a primary advisor, Borghesi Advisory
S.r.l., for assistance and for the search for potential
interested parties.
Finally, we inform that the Board of Directors of the
Company, as of today, has awarded mandates to a legal advisor
and to a professional, meeting the requirements of Article
67, third paragraph, letter. d) of the Bankruptcy Bill,
respectively, for legal assistance in the composition
procedure and attestation, pursuant to law, the concordat
plan to be submitted by the Company within the period
prescribed by the Court of Milan, which is the January 10,
2013, as previously announced to the market.
Dmail Group S.p.A.
Angelo Rodolfi Investor Relator Tel. 02 5522941
investor.relations@dmailgroup.it
Dmail Group S.p.A., listed in the MTA segment of Borsa Italiana, conducts its business in the segments of Media Commerce and
Local Media.
In the Media Commerce area, the Group is leader in the direct, multi-channel sales, particularly online, in Italy and abroad,
of innovative and good value products branded "Dmail - Idee utili e introvabili - www.dmail.it", "Dcomfort - Idee per vivere meglio - www.dcomfort.it", "DGarden - Idee per vivere il tuo spazio verde - www.dgarden.it", "DPets - Idee per chi ama gli animali" - www.dpets.it".
The publishing activities are managed through Dmedia Group, which controls Netweek, the leading local media network in Northern Italy. Dmedia also publishes the website Netweek.it, the local news portal. Further information on the company is available on the website: www.dmediagroup.it.
The press release is also available on the website of the
Company, www.dmailgroup.it in the Financial area section
-7 Financial Releases
2
distributed by |