M&A Activity • Dec 11, 2025
M&A Activity
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Data/Ora Ricezione : 11 Dicembre 2025 08:35:24
Oggetto : FULFILLMENT OF THE COMMITMENTS
MADE BY THE FOUNDERS WITH THE ANCHOR INVESTOR FIRST SICAF UPON
ADMISSION TO TRADING
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Press release issued by Più Medical as requested by shareholders
Castronno (VA), 11 December 2025 - Più Medical S.p.A. ("Più Medical" or the "Company"), consolidation platform with a "buy-fix-scale" model active in the retail pharmacy sector and focused, as of the date of this press release, on the Lombardy region - announces, on behalf of the founders G.S.M. S.r.l. ("GSM") and La Farmaceutica S.p.A. ("La Farmaceutica" and, jointly, the "Founders"), that, in implementation of the agreements signed by the founders with First SICAF S.p.A. ("First SICAF") upon admission to trading of Più Medical ordinary shares on Euronext Growth Milan, a multilateral trading facility organized and managed by Borsa Italiana S.p.A. (respectively, the "EGM" and the "IPO"), the founders and First SICAF have implemented the commitments described in the admission document relating to the IPO on the EGM published by Più Medical and available on the Company's website in the "Investor Relations/IPO EGM" section.
In particular, on December 10, 2025, First SICAF and La Farmaceutica transferred to V.F. Pharma S.r.l. ("VF Pharma"), a vehicle set up by First SICAF and dedicated to investing in Più Medical, respectively: (i) the 800.000 Più Medical ordinary shares subscribed by First SICAF as anchor investor in the context of Più Medical's IPO, in addition to a cash payment; and (ii) 800.000 Più Medical ordinary shares owned by La Farmaceutica.
Following the contributions, VF Pharma is 51% owned by First SICAF and 49% by the founders and holds a total of nr. 1.600.000 Più Medical ordinary shares, representing 23,9% of the share capital and 16,2% of the voting rights of Più Medical.
The 12-month lock-up commitments to which First SICAF was originally bound in relation to its stake in Più Medical have been transferred to VF Pharma.
The transaction includes, among other things, the appointment to the Board of Directors of Più Medical of a representative of First SICAF (which the founders already did during the IPO by appointing Vincenzo Polidoro, a non-executive director of the Company), as well as other shareholder-related commitments. Through the waterfall mechanisms provided for in VF Pharma's articles of association, the founders confirm their commitment and confidence in Più Medical's future growth and development prospects.
It is also established that VF Pharma shareholders are required to hold their shares for a period of 5 years, except for certain allowed transfers, in order to guarantee the stability and effectiveness of the joint action in support of Più Medical's growth.
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piumedical.com

The press release is available on the Company's website www.piumedical.com, in the "Investor Relations/Press Releases" section and at .
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For the transmission and storage of Regulated Information, Più Medical uses the authorized SDIR eMarket Storage circuit (), managed by Teleborsa S.r.l. - with headquarters in Piazza di Priscilla, 4 - Rome.
Fabio Luigi Giordano Value track SIM S.p.A. Viale Lombardia 62, 21040 Castronno (VA) Via Masaccio 172/174, Firenze +39 0332 896059 [email protected] [email protected]
Via Broletto, 5, 20121 Milano Via Valparaiso, 3 - 20144 Milano + 39 0299968127 Tel. +39 02438114200
Banca Investis S.p.A. Twister Communications Group [email protected] Lucia Saluzzi, Luca Di Bitetto [email protected]
Più Medical is a consolidation platform with a buy-fix-scale model, established in 2025 and focused on the retail pharmacy sector in Northern Italy. The Group currently manages a network of 16 pharmacies. The Group's activity focuses on the management and enhancement of local pharmacies through a centralized operating model that integrates industrial, managerial, and commercial expertise. Più Medical is characterized by an approach geared towards efficiency and profitability, based on structured processes, economies of scale, and a governance model capable of supporting future growth.

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