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Alitalia Group: the Board unanimously approves a financial plan in the amount of € 500 million

October 16, 2013 Financial No Comments Email Email

The Board of Directors of Alitalia – Compagnia Aerea Italiana S.p.A., chaired by Roberto Colaninno, met today in Rome.
The Board of Directors unanimously approved a final budget package totaling € 500 million as follows:

• € 300 million by way of capital increase to be offered in stock options to the shareholders.
• € 200 million of new lines of credit from the banking system and the confirmation of existing lines of credit.

In this context, and subject to the approval of its decision-makers, it is expected that Poste Italiane S.p.A. will guarantee the subscription of a total capital increase of € 75 million, which might remain in unexercised stock options, and that Intesa Sanpaolo S.p.A. and UniCredit S.p.A. will guarantee a subscription of a maximum of € 100 million in any additional unexercised stock options.

Furthermore, given the guarantee of the unexercised stock options, it is expected that Banca Intesa San Paolo S.p.A and UniCredit S.p.A, will grant a bridge to equity in the amount of €100 million in order for Alitalia to meet its immediate financial needs .

A Board of Directors and Shareholders Meeting will be held next Monday, October 14th.

President Colaninno expressed his satisfaction at the large number of shareholders who willingly approved the increase in capital, in addition to the € 1.27 billion in capital increase already paid.
The entire Board of Directors expressed its satisfaction at the approval of the financial plan that – with a massive injection of fresh funds – provides a solid basis for the future of the Company.

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