Marcolin Board of Directors approves public share offer
The Board of Directors of Marcolin SpA met January 13. Having taken note of the joint communication sent January 4, 2005 (complying with the Italian law and Consob regulation), by the 'Bidders' (ADV Partecipazioni Srl, DDV Partecipazioni Srl, Cirillo Coffen Marcolin, Maurizio Coffen Marcolin, Maria Giovanna Zandegiacomo, Monica Coffen) to Marcolin SpA with regard to the compulsory total public share offer of Marcolin ordinary shares, the offer document (identical to that sent to Consob), and the opinion of the Marcolin SpA financial advisor, the Board examined the offer's terms, conditions and purpose.
Based on the opinion of the appointed financial advisor, the Board of Directors considered that the figure offered was a fair one, provided that the economic advantage of subscription would be assessed only by Marcolin SpA shareholders up to the conclusion of the subscription period.
The Board of Directors therefore approved and sent the communication to Consob (in compliance with the Consob regulation); it will be made public at the same time as the offer document is published.
At the same meeting, the Board of Directors also approved the following calendar of corporate events for 2005:
- week of March 14, 2005, Board of Directors meeting to approve the draft balance sheet for financial year 2004;
- week of April 25, 2005, General Meeting to approve the balance sheet for financial year 2004;
- week of May 9, 2005. Board of Directors meeting to approve the first-quarter report for financial year 2005;
- week of September 5, 2005, Board of Directors meeting to approve the half-year report for financial year 2005;
- week of November 7, 2005, Board of Directors meeting to approve the third-quarter report for financial year 2005.
In 2005 the company will also apply Consob resolution No. 11971/99, which exempts it from publishing progress reports for the fourth quarter of 2004 and the second quarter of 2005, as its financial statement at December 31, 2004, will be made public within 90 days from the close of the financial year, and the six-monthly report at June 30, 2005, will be published within 75 days from the end of the six-month period.
As soon as they are available, the company will advise the market of the precise dates of the meetings listed above and will promptly communicate any changes to its 2005 calendar.
