FINANCIAL RELEASE Dmail Group S.p.a.
Milan, 24 September 2012 - Dmail Group S.p.A., company listed in the MTA segment of Borsa
Italiana, informs that, earlier today, the Board of Directors
of Dmail Group S.p.A. met for an update on the review of the
most appropriate measures to be taken in relation to the
equity, economic and financial situation of the Company and
its business outlook. As already mentioned in the press
release dated 27
August 2012 and 13 September 2012, the Company examined the
scenarios generated in the event of application for the
procedure under Law 134 dated 7 August 2012. Furthermore,
contacts were established and are being maintained with the
reference shareholders, but under present conditions none of
them has positively shown its availability to underwrite the
Company's recapitalization nor to grant loans in favour of
the latter.
In the light of the current situation and based on the
information currently available, pending the possible
identification of alternative solutions, the Board of
Directors held earlier today, in order to achieve the
protective effects on the Company's assets which are provided
by the applicable regulations and for the protection of all
the interests involved, and particularly those of its
creditors, discussed on and resolved to file application for
the so-called automatic protection from creditors pursuant to
Article 161 (6) of R.D. n.
267 dated 16 March 1942, as modified in the light of the
aforementioned rules, within the scope of which it reserves
to submit an agreement for the restructuring of debts, for
the purposes of Article 182-bis of the aforementioned R.D.
267/42. The Board of Directors, therefore, attributed to the
Chairman the necessary powers to lodge the application with
the Court of Milan in the shortest possible technical
times.
With reference to the extraordinary meeting of the
shareholders of the Company, already called for 26
October, on first calling, and, if needed, on 29 and 30
October 2012, respectively on second and third calling, under
present circumstances the Board of Directors deems that,
holding into account today's decision approved by the Board,
in the event it were not possible to submit to the Meeting
any alternative proposals for recapitalization, the
extraordinary part of the Meeting could centre on resolutions
for the liquidation of the Company and the appointment of a
liquidating board, consisting of one or more liquidators
appointed among the candidates nominated by the shareholders
during the meeting and working within the purposes of the
law.
However, the Company deems it proper to pursue over the next
few weeks a search for any possible interest of any third
parties to take part in a recapitalization of the Company or
to examine in further depth possible measures that might
ensure the continuation of business. In any event, the Board
of Directors reserves the possibility to examine
restructuring plans which might allow the Company to overcome
the current critical conditions.
It should also be pointed out that a major advisor assisted
the Company in the procedure for the restructuring of debt
and the search for third parties possibly interested in
purchasing the Company's assets.
If any actual interest were shown, the Company would provide
promptly to inform the market for the purposes of the
applicable regulations, also reserving to submit to the
meeting, where technically possible on account of the short
times provided in the rules for public availability of the
meeting's minutes, any alternative recapitalization
proposals.
§
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. Consisting of 42 local publications, Netweek has a circulation of 600 thousand copies and more than 3.5 million weekly readers. Dmedia also publishes the website Netweek.it, the local news portal. Further information on the company is available on the website: www.dmailgroup.it.
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