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Earnings Release • Nov 9, 2015

Informazione Regolamentata n. 1771-5-2015		Data/Ora Ricezione 09 Novembre 2015 15:36:45	MIV - Segmento Professionale
Societa'	:	SPACE2
Identificativo Informazione Regolamentata	:	65286
Nome utilizzatore	:	SPACE2N05 - r
Tipologia	:	AVVI 16
Data/Ora Ricezione	:	09 Novembre 2015 15:36:45
Data/Ora Inizio Diffusione presunta	:	09 Novembre 2015 15:51:46
Oggetto	:	Press Release
Testo del comunicato

Vedi allegato.

PRESS RELEASE

The Board of Directors of Space2 S.p.A.

approves the 2015 Third Quarter Report

• Equity of Euro 305.1 million
• Cash and cash equivalents of Euro 121.3 million

Milan, November 9, 2015 - The Board of Directors of Space2 S.p.A., a company listed on the MIV segment organised and managed by Borsa Italiana, today reviewed and approved the 2015 Third Quarter Report.

9M 2015 2015 Results

Space2 S.p.A. was incorporated in May 2015 and therefore, without previous operations and accounts, the figures at September 30, 2015 may not be compared with a prior year Interim Report.

As a SPAC (Special Purpose Acquisition Company), the Company did not generate operating revenue in the first nine months of 2015.

In particular, the net profit of Euro 11,285 in the period was based on:

• EBIT loss of Euro 342,735, essentially comprising operating costs;
• Financial income of Euro 354,020 matured on Company liquidity;

The balance sheet at September 30, 2015 reports equity of Euro 305.1 million and a net cash position of Euro 305 million, including Euro 121.3 million of cash and cash equivalents and Euro 183.7 million of savings bonds.

The Space2 S.p.A. share price closed at Euro 9.98 per share at September 30, 2015.

OUTLOOK 2015

Space2 operations since listing on the Stock Exchange on July 31, 2015 have entirely focused on the research and selection of the Target company, in accordance with the company mission and investment policy guidelines approved by the Shareholders' Meeting.

* * *

Declaration of the Executive Officer

The executive officer responsible for the preparation of the financial statements of Space2 S.p.A., Mr. Edoardo Subert, declares in accordance with Article 154-bis, paragraph 2, of Legislative Decree 58/1998, that the accounting information contained in this press release corresponds to the underlying accounting documents, records and accounting entries.

* * *

This press release is also available on the company's website www.space2spa.com, in the "Media Relations" section.

The 2015 Third Quarter Report will be made available to the public in accordance with the legally established terms and means.

* * *

Space2 S.p.A.

Space2 is the second Italian registered SPAC (Special Purpose Acquisition Company) listed on the regulated Investment Vehicles Market (MIV)/Professional segment organised and managed by Borsa Italiana S.p.A..

The capital raised by Space2 will be deployed - within approximately 24 months - for a merger with a Target company through a number of options, including business combinations on the basis of contribution or merger, following which the shares of the resulting company will be listed on the Stock Exchange. The objective of Space2 SpA is therefore to identify a company representative of Italian industrial excellence and interested in opening up its ownership to institutional investors through listing on a regulated market.

Space2 is the second SPAC promoted by Space Holding S.r.l., an investment company whose shareholders are Sergio Erede, Roberto Italia, Gianni Mion, Carlo Pagliani, Edoardo Subert, Alfredo Ambrosio and Elisabetta De Bernardi. In 2013 Space Holding incorporated Space S.p.A., the first Italian registered SPAC listed on the MIV, which identified F.I.L.A. - a world leader in the production and sale of colouring, drawing, modelling, writing and painting tools, principally for school and preschool age children - as the target company for its Business Combination.

Media Contacts :

iCorporate S.r.L.

Rita Arcuri – rita.arcuri@icorporate.it - Mobile: (+39) 333/2608159

Elisa Piacentino – elisa.piacentino@icorporate.it - Mobile: (+39) 366/9134595

Investor Relations Contacts:

Telephone: (+39) 02 92853375

Mail: investor@space2spa.com

* * *

The Balance Sheet, Income Statement, Statement of Cash Flow and Net Financial Position of Space2 S.p.A. at September 30, 2015 are attached.

Condensed balance sheet

in Euro	Note	At September 30, 2015
ASSETS
Current assets
Cash and cash equivalents	1	121,301,201
Other current financial assets	2	183,716,718
Other receivables	3	382,167
Total current assets		305,400,086
TOTAL ASSETS		305,400,086
LIABILITIES AND EQUITY LIABILITIES
Current liabilities
Trade payables	4	220,322
Other payables	5	80,638
Total current liabilities		300,960
Share capital	6	30,845,000
Share premium reserve	6	277,155,000
Other reserves	6	(2,912,159)
Retained earnings	6	-
Net profit for the period	6	11,285
Equity		305,099,126
TOTAL LIABILITIES AND EQUITY		305,400,086

Condensed income statement

in Euro	Note	May 28, 2015 – September 30, 2015
Revenue	8	-
Other revenue	8	-
Consumable materials	9	(300)
Personnel costs	10	(9,216)
Other net operating costs	11	(333,219)
EBIT		(342,735)
Financial income	12	354,020
Pre-tax profit		11,285
Income taxes	13	-
Net profit for the period		11,285
Basic earnings per share	14	0.001
Diluted earnings per share	14	0.001

Consolidated Statement of Comprehensive Income

in Euro	May 28, 2015 – September 30, 2015
Net profit for the period	11,285
Other comprehensive income statement items not subsequently reclassified to profit and loss	-
Other comprehensive income statement items subsequently reclassified to profit and loss	-
Total Comprehensive Income	11,285

Condensed Statement of Cash Flow

Condensed Statement of Cash Flow

in Euro	May 28, 2015 – September 30, 2015
Operating activities
Pre-tax profit	11,285
Adjustments reconciling pre-tax profit with net cash flows:
- Share capital increase costs	(2,912,159)
Changes in working capital:
- Increase in current trade and other payables	300,960
- Increase in current trade and other receivables	(382,167)
Net cash flow from operating activities	(2,982,081)
Investing activities
Savings Bonds	(183,716,718)
Property, plant and equipment	-
Other intangible assets	-
Other current financial assets	-
Net cash flow from investing activities	(183,716,718)
Financing activities
Share capital increase	30,845,000
Share premium reserve	277,155,000
Settlement current financial assets	-
Other non-current financial assets	-
Net cash flow from financing activities	308,000,000
(Decrease)/increase in current cash and cash equivalents and deposits	121,301,201
Cash and cash equivalents at beginning of the period	-
Cash and cash equivalents and deposits at end of period*	121,301,201

Net Financial Position

in Euro		May 28, 2015 – September 30, 2015
A	Cash	-
B	Other cash equivalents	121,301,201
C	Other current financial assets	183,716,718
D	Liquidity (A+B+C)	305,017,919
E	Current financial receivables	-
F	Current bank payables	-
G	Current portion of non-current debt	-
H.	Other current financial payables	-
I	Current debt	-
J	Net current cash position	305,017,919
K	Non-current bank payables	-
L	Bonds issued	-
M	Other non-current payables
N	Non-current debt
O	Net cash position	305,017,919