(Alliance News) - Sciuker Frames Spa announced Tuesday evening that it had begun preparatory activities functional to the completion of the acquisitions of the entire share capital of Diquigiovanni Srl, through deWol Contract Srl, a wholly owned subsidiary of Sciuker Frames, and the entire share capital of D&V Serramenti Srl, through deWol Retail Srl, also a wholly owned subsidiary of Sciuker Frames.

Specifically, on Tuesday, the Sciuker Frames shareholders' meeting integrated the board of directors through the appointment, effective subject to the completion of the acquisitions, of two new directors Michele Verzè and Paolo Tosti.

In addition, the board of directors approved a paid, divisible capital increase with the exclusion of pre-emptive rights for a maximum of 807,873 ordinary shares at a price of EUR23.50 per share for a maximum of approximately EUR19.0 million, of which EUR80,787.30 will be capital and EUR18.9 million will be share premium. This increase will be executed on the date of the completion of the acquisitions expected in the coming weeks and will be to be offered for subscription by December 31, 2023 to the sellers of the stakes in DQG and D&V Serramenti.

Sciuker Frames' stock on Tuesday closed down 2.2 percent at EUR6.78 per share.

By Chiara Bruschi, Alliance News reporter

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