Fiat SpA : Conversion of preference and savings shares into ordinary shares
05/14/2012| 01:56pm US/Eastern
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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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