Shares history 1923

Pursuant to a resolution passed by the general shareholders’ meeting held on 27 October 1923, the company increased its share capital to ITL 40,000,000 and adjusted the nominal value of the shares as follows:

  1. reduction of the nominal value of the 6,300 shares from ITL 2,100 to ITL 2,000 by paying ITL 100 per share to shareholders;
  2. split of each of the 6,300 shares with a nominal value of ITL 2,000 into four shares with a nominal value of ITL 500; the share capital was therefore divided into 25,200 shares of a nominal value of ITL 500 each;
  3. issue of 54,800 new shares with a nominal value of ITL 500 each, fully paid up, in the proportion of 2 shares for each share held for a price of ITL 500 per share. Of the new shares, 4,400 were allocated for placement at the discretion of the Board of Directors.

Following these changes, the share capital was divided into 80,000 registered shares of a nominal value of ITL 500 each. The resolution was ratified by Order No. 11911 of the Ministry of the National Economy on 23 May 1924.
The split of the old shares and issue of the new shares were carried out in December 1923 by delivering temporary coupons to the shareholders. On 1 October 1924, the coupons were replaced with share certificates (numbered in ascending order) representing one or more shares of a nominal value of ITL 5,000 each. The resolution passed by the general shareholders’ meeting on 27 October 1923 was recorded in the Business Registry based on the agreement of 5 January 1925, Sign. 477/25 – Company 1130.