Parmalat SpA : Clarification requested by Consob on 24 May 2012 on the subject of the Liquidity Payment Agreement
05/28/2012| 02:13pm US/Eastern
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Upon request of Consob, we specify the following:
1. Main terms of the Liquidity Payment Agreement
stipulated with the Ontario Teachers Pension Plan
Board.
The Liquidity Payment Agreement ("LPA") furnishes information
for the calculation of the "Net Value" of Parmalat Canada
Inc., specifying that it corresponds to the "Enterprise
Value", defined according to market criteria, from which
specific items, expressly listed, have to be
subtracted/added. The
contractual concept of "Enterprise Value" is not precisely
determined, however, and may be subject
to different interpretations, as the method of calculation is
not fully defined. In calculating the "Net
Value" the following amounts have to be subtracted from
the "Enterprise Value":
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