According to the art. 8 of the Articles of Association of Glenalta S.p.A. (the “Company”), starting from the day after the approval of the financial statements for the first financial year by the Ordinary Assembly (“Termine”), Common Shareholders have the right to withdraw and, during the liquidation process, sell to the Company, that will have the obligation to buy, according to the art. 2357 c.c., using available reserves, according to the art. 2437-quater, quinto comma, c.c., all or part of their Common Shares (the “Put Option”).
For more information regarding the Put Option and, in particular, the amount that should be paid to the shareholders in case of option exercise as well as the procedure for the liquidation of the shares and the corresponding timing, refer to the Articles of Association (art. 8) and to the Admission Document, available on the website (www.glenalta.it), in the sections “Company / Corporate Documents” and “Investor Relations / IPO” respectively.
According to the art. 8 of the Articles of Association, the shareholders that intend to exercise the Put Option are required to communicate it to the Company in written form, by registered mail with delivery notice, stating the clear intention of wanting to exercise the Option irrevocably and the specification of the number of common Shares owned for which they are exercising the Option.
The Company will make available to the Shareholders in this section of the website by the Termine, a specific form for the communication of the exercise of the Put Option containing information regarding the proper exercise of the Put Option according to what is provided for by the Articles of Association.
Potential incomplete notices that are not immediately presented with all the required information will not be considered valid and therefore will not be evaded by the Company.