(Alliance News) - Mondo TV France SA and Mondo TV Suisse SA have announced that the two boards of directors are moving forward with the transactions related to the merger of the two companies.

Mondo TV France will proceed with the allotment to Mondo TV Suisse shareholders of 275.0 million ordinary shares of Mondo TV France with no indication of par value, resulting from the special increase of a total of EUR2.2 million to service the merger, according to the allocation of 27.5 ordinary shares of Mondo TV France for every ordinary share of Mondo TV Suisse.

Upon completion of the merger process, all of Mondo TV Suisse's assets will be transferred to Mondo TV France and Mondo TV Suisse will be cancelled; Mondo TV France's business in Switzerland will continue through its own branch in Ticino, without any substantial changes at the operational and organizational level compared to the business previously carried out by Mondo TV Suisse.

Following the completion of the transaction, the share capital of Mondo TV France, as resulting from the merger, will be held approximately 41.5 percent by the current shareholders of Mondo TV France and approximately 58.5 percent by the current shareholders of Mondo TV Suisse.

Mondo TV France's stock is in fractional green at EUR0.016 per share while Mondo TV Suisse's stock is up 1.4 percent at EUR0.43 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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