Trevi Fin Industriale

Legal Proceedings Report • Nov 18, 2019

Informazione Regolamentata n. 0262-81-2019		Data/Ora Ricezione 18 Novembre 2019 18:17:22	MTA
Societa'	:	TREVI GROUP
Identificativo Informazione Regolamentata	:	124936
Nome utilizzatore	:	TREVIN01 - Cocco
Tipologia	:	REGEM
Data/Ora Ricezione	:	18 Novembre 2019 18:17:22
Data/Ora Inizio Diffusione presunta	:	18 Novembre 2019 18:17:23
Oggetto	:	Press Release November 18, 2019
Testo del comunicato

Vedi allegato.

Cesena, November 18, 2019 – Trevi - Finanziaria Industriale S.p.A. (the "Company") announces that it is continuing its analysis of the decision of the Court of Forlì, received on 15 November, rejecting the approval of the restructuring agreement reached with creditors pursuant to Article 182-bis of the Bankruptcy Law and its effects on the ongoing recapitalization of the Company and the restructuring of the debt of the Trevi Group.

In particular, the Company confirms that it deems the decision incorrect and that it will challenge such decision with the Bologna Court of Appeal in the next few days, requesting that the decision is reversed and that the restructuring agreement with the financial creditors is approved. Appropriate discussions are also being held in order to take all the appropriate steps to preserve the restructuring transaction, with the shareholders that have undertaken commitments to subscribe to the capital increase, with the banks and financial institutions participating to the restructuring agreement and with Megha Engineering & Infrastructures Ltd in relation to the agreements for the transfer of the Trevi Group's Oil&Gas Division to the latter, with the aim of avoiding that the successful outcome of the transaction is jeopardized while awaiting the outcome of the above-mentioned appeal.

Considering the initiatives described above, the Company believes that it is unlikely that the capital increase approved on 17 July this year will be implemented within the current year.

In light of the above, the Company is also taking the necessary corporate steps to call a meeting of the bondholders of the "TREVI - FINANZIARIA INDUSTRIALE S.P.A." loan. 5.25% 2014-2019", to request the approval by the bondholders of a resolution preventing the occurrence of the condition subsequent in relation to the amendments made on 2 May 2019 to the terms and conditions of the bond, which identifies 31 December 2019 as the final deadline for the conclusion of the overall transaction for the recapitalization of the Company and the debt restructuring of the Trevi Group

About Trevi:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation and the building and marketing of special rigs and equipment relevant to this engineering sector); the Group is also active in the drilling sector (oil, gas and water) both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and today has more than 30 branches and is present in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering, Petreven, the oil drilling division of the Group, Soilmec, the division that produces and develops plant and machinery for soil engineering and Drillmec the division that produces and develops drilling rigs (oil, gas and water). The parent company has been listed on the Milan stock exchange since July 1999.

For further information:

Investor Relations: Francesca Cocco – e-mail: investorrelations@trevifin.com

Group Communications Officer: Franco Cicognani - e-mail: fcicognani@trevifin.com – tel: +39/0547 319503

Press Office: Community - Strategic communication advisers – T. +39 02 89404231

Auro Palomba - Auro.palomba@communitygroup.it

Roberto Patriarca – (T. +39 335 65 09568) - Roberto.patriarca@communitygroup.