Via A. Fogazzaro n. 28, Milan, Italy
Registry of Companies of Milan, Italy: No. 10115350158 (Incorporated under the laws of Italy as a joint-stock company) (Stock Code: 1913)
MERGER BY INCORPORATION OF PRADA STORES S.R.L. INTO PRADA S.P.A.
This announcement is made by PRADA S.p.A. (the "Company", and together with its subsidiaries, the "Prada Group") on a voluntary basis to inform the shareholders of the Company of its rights with respect to the Merger (defined below).
The Company is pleased to announce that on April 8th, 2016, the Board of Directors of the Company approved the plan of merger by incorporation (the "Merger Plan") of PRADA Stores S.r.l. ("Prada Stores"), a wholly owned subsidiary of the Company, into the Company (the "Merger").
The above corporate reorganization is aimed at rationalizing and simplifying the Prada Group structure.
The Merger will be effected with the cancellation of the Company's 100% interest in the share capital of Prada Stores and there will be no increase in the share capital of the Company.
The Merger Plan, a copy of which is attached to this Announcement, was deposited on the day of this Announcement with the Milan Company Register, as provided for by Art. 2501-ter of the Italian Civil Code.
Pursuant to paragraph 3 of Art. 2505 of the Italian Civil Code, shareholders of the Company representing at least 5 per cent of the share capital have the right to request that the approval of the Merger be resolved upon at a meeting of the shareholders' of the Company in compliance with paragraph 1 of Art. 2502 of the Italian Civil Code.
As at the date of this Announcement, PRADA Holding S.p.A. is the holding company of the Company and owns approximately 80% of the issued capital in the Company.
The Prada Group is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church's and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories and, through license agreements, eyewear and fragrances.
Prada Stores operates in the Italian market in the retail sector of luxury goods bearing the Prada, Miu Miu and Car Shoe trademarks.
By Order of the Board
PRADA S.p.A. Mr. Carlo MazziChairman
Milan (Italy), April 21, 2016
As at the date of this announcement, the Company's executive directors are Mr. Carlo MAZZI, Ms. Miuccia PRADA BIANCHI, Mr. Patrizio BERTELLI and Ms. Alessandra COZZANI; the Company's non-executive director is Mr. Stefano SIMONTACCHI and the Company's independent non-executive directors are Mr. Gian Franco Oliviero MATTEI, Mr. Giancarlo FORESTIERI and Mr. Sing Cheong LIU.
Registered Office at Via Antonio Fogazzaro 28, Milan Share Capital Euro 255,882,400.00 entirely paid up Registered with the Business Register of Milan Taxpayer's code no.10115350158
R.E.A. (Economic Administrative Register) 1343952 MI
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PRADA Stores S.r.l.Registered Office at Via Antonio Fogazzaro n. 28, Milan Share Capital Euro 520,000.00 entirely paid up Registered with the Business Register of Milan Taxpayer's code no.13417490151
R.E.A. (Economic Administrative Register) 1649623 MI
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Pursuant to articles 2501 ter and 2505 of the Italian Civil Code, the Boards of Directors of PRADA S.p.A. (merging company) and PRADA Stores S.r.l. with sole shareholder (merged company) have prepared and approved the following plan of merger by incorporation of PRADA Stores S.r.l. into PRADA S.p.A., based on the assumption already implemented and that will be maintained until the completion of the merger procedure, that the entire share capital of the merged company is owned by the merging company and - as a consequence - the share capital of the merging company is not expected to be increased.
The merger will be performed through the cancellation, without swap ratio, of the stake in the merged company.
Pursuant to art. 2505 of the Italian Civil Code, the provisions of art. 2501 ter, first paragraph, nn. 3, 4 and 5 and art. 2501 quater and 2501 sexies of the Italian Civil Code shall not apply to this plan of merger.
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Companies involved in the merger
Merging company:
PRADA S.p.A, with registered office in Milan, Via A. Fogazzaro n. 28, share capital: Euro 255,882,400.00 entirely paid up, registered with the Business Register of Milan, taxpayer's code number 10115350158, with ordinary shares listed on the Main Board of the Stock Exchange of Hong Kong Limited.
Merged company:
PRADA Stores S.r.l., sole shareholder company, with registered office in Milan, Via A. Fogazzaro n. 28, share capital of Euro 520,000.00 entirely paid up, registered with the Business Register of Milan, taxpayer's code no. 13417490151.
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Memorandum of association or by-laws of the merging company
resulting from the merger
No amendment will be made to the by-laws of the merging company
following this merger.
- Exchange ratio
- Procedures for the allotment of shares or participation quotas granted in exchange
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Starting date of dividend entitlement for shares granted in exchange
With reference to the foregoing, pursuant to article 2505 of the Italian Civil Code, these elements shall not be applicable.
- Date from which the operations of the merged company are recognized in the financial statements of the merging company The merger will take effect for legal purposes from the date of the last registration of the merger deed in the Business Register of Milan as required by art. 2504 bis of the Italian Civil Code or from a later date which may be expressly stated in the merger deed pursuant to art. 2504 bis, second paragraph of the Italian Civil Code.
The operations of the merged company will be recorded in the financial statements of the merging company starting from the first day of the year in which the merger takes effect for legal purposes; this will also be the starting date for tax purposes,
Prada S.p.A. issued this content on 21 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 April 2016 15:21:14 UTC
Original Document: http://www.pradagroup.com/system/pdf_ens/242/original/e-Announcement of Merger by Incorporation of Prada Stores Srl into PRADA SpA.pdf