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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat SpA    FIA   IT0001976403

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Fiat SpA : Conversion of preference and savings shares into ordinary shares

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05/14/2012 | 07:56pm CEST
Conversion of preference and savings shares into ordinary shares

Fiat announces that in the next few days it will proceed with the conversion of the Company's preference and savings shares into ordinary shares. The effective date for conversion will be announced in accordance with the applicable laws and procedures.

With the period for exercise of withdrawal rights now expired, Fiat has received withdrawal notices in relation to 1,016,190 preference shares (for a total amount of € 3,370,702) and
1,616,509 savings shares (for a total amount of € 5,589,888).
As such, the conditions precedent approved by shareholders at the Extraordinary General Meeting of 4 April 2012 - under which the conversion was subject to total disbursements to shareholders exercising the right of withdrawal not exceeding €56 million in relation to the preference shares and €44 million in relation to the savings shares - have been satisfied.
Fiat will pay the redemption amount to withdrawing shareholders concurrently with the consummation of the conversion and ordinary shares issued as a result of the conversion of preference and savings shares that have been redeemed will be offered to existing shareholders, pursuant to terms and procedures to be announced in accordance with Article 84 of the Consob Issuer Regulations.
Turin, 14 May 2012

Fiat S.p.A.

Via Nizza 250, 10126 Turin, ITALY

Tel. +39 011 006 3088, Fax +39 011 006 2459 mediarelations@fiatspa.com

www.fiatspa.com

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Financials (€)
Sales 2016 112 838 M
EBIT 2016 5 392 M
Net income 2016 1 996 M
Debt 2016 6 962 M
Yield 2016 0,26%
P/E ratio 2016 4,27
P/E ratio 2017 3,57
EV / Sales 2016 0,13x
EV / Sales 2017 0,12x
Capitalization 7 787 M
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Consensus 
Mean consensus HOLD
Number of Analysts 28
Average target price 7,78 €
Spread / Average Target 28%
Consensus details
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Managers
NameTitle
Sergio Marchionne Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer, COO-Systems & Casting
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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