Giglio.Com — Capital/Financing Update 2019

Feb 12, 2019

Informazione Regolamentata n. 20076-14-2019		Data/Ora Ricezione 12 Febbraio 2019 18:20:05	MTA
Societa'	:	Giglio Group S.p.A.
Identificativo Informazione Regolamentata	:	113950
Nome utilizzatore	:	GIGLION04 - Schranz
Tipologia	:	3.1
Data/Ora Ricezione	:	12 Febbraio 2019 18:20:05
Data/Ora Inizio Diffusione presunta	:	12 Febbraio 2019 18:20:06
Oggetto	:	Giglio Group_Amendment to the regulation of "Giglio Group s.p.a. - 5,4% 2016 -2022" Debenture Loan
Testo del comunicato

Vedi allegato.

AMENDMENT TO THE REGULATION OF "GIGLIO GROUP S.P.A. – 5,4% 2016-2022" DEBENTURE LOAN

Today, Giglio Group S.p.A.'s Board of Directors and Bondholders Meeting (properly constituted and quorate) approved the amendment to the Regulation of "GIGLIO GROUP S.P.A. – 5,4% 2016-2022" debenture loan, code ISIN IT0005172157

Milan, 12 February 2019 – Today, the Board of Directors of Giglio Group S.p.A. (Ticker GGTV) ("Giglio Group" or the "Company") decided to submit to the Bondholders Meeting a few amendments to the Regulation of the "GIGLIO GROUP S.P.A. – 5,4% 2016-2022" debenture loan, aimed at providing the Company with adequate financial flexibility to enable those strategic operations designed to optimise the business as a whole and the management of shareholdings in the Group's subsidiaries. More specifically, the amendments are aimed at aligning the Regulation with the strategic guidelines of the new industrial plan – described in the press release of the 5th of February –, which include a further focus on the e-commerce 4.0 and the transformation of the Media and TV area, also through the divestiture of noninstrumental assets for online sales' promotion.

Following the BoD's resolution, the Bondholders Meeting was properly constituted and quorate – pursuant to Art. 19 of the Regulation of debenture loan – and unanimously approved the proposal of the BoD regarding the amendment of the aforementioned Regulation.

The main amendments to the Regulation concern:

• The inclusion of transactions concerning assets belonging to the Media and TV business area in the list of operations allowed without the prior approval of the Bondholders Meeting;
• The amendment of the amortization plan through the introduction of monthly reimbursement tranches starting from 28 February 2019 and ending on 30 September 2020, new date of expiry of the debenture loan;
• The payment of interests on a monthly basis according to the dates provided for in the new amortization plan, without prejudice to (i) the debenture loan's annual interest rate, which shall remain unchanged, and (ii) the fact that interests accrued between 10 September 2018 and 27 February 2019 shall be paid by 10 March 2019;
• The definition of financial covenants, with a stipulation that for the year 2018, any deviation from said covenants shall not produce the effects set forth in the Regulation.

The amendments to the Regulation of debenture loan shall take immediate effect. The text of the Regulation of debenture loan as amended by the Bondholders Meeting's resolution is available on the Company's website www.giglio.org, in the "Investor Relations" section.

The minutes of the Bondholders Meeting and the overview of the voting shall be made available to the public within the date established by current legislations.

Information on Giglio Group:

Founded by Alessandro Giglio in 2003 and listed on MTA-STAR market, Giglio Group is a "Worldwide Digital Enabler". With headquarters in Milan, New York, Shanghai, Hong Kong, Rome, Lugano and Genoa, it offers tailor-made B2B and B2C services through its own IBox Distribution and IBox Digital business lines. Thanks to its significant expertise, Giglio Group ensures to its clients the online sale of their products through a platform that, starting from the implementation and management of monobrand e-stores, is capable of offering a dedicated placement on full-price and off-price marketplaces and, as far as the Chinese market is concerned, of boosting online sales through the support of its own media properties (TV and Digital).

CONTACTS

Investor Relations:

ir@giglio.org (+39)0283974207

Corporate&Finance Press Office:

Spriano Communication&Partners Matteo Russo and Cristina Tronconi Tel. 02 83635708 Mob. 347/9834881 mrusso@sprianocommunication.com ctronconi@sprianocommunication.com