(Alliance News) - The board of directors of 4AIM SICAF Spa on Monday approved the draft financial statements as of Dec. 31, 2023, which closed with a negative EUR5.86 million from the negative EUR4.69 million as of Dec. 31, 2022.

The unit value of sub-fund 1 shares was EUR274.377 down from EUR393.603 as of Dec. 31, 2022.

In contrast, the unit value of sub-fund 2 shares was EUR483.867 compared to EUR468.527 as of December 31, 2022.

The board proposed convening an extraordinary meeting for the proposed capital increase of MTF Sub-fund 1 up to a maximum total of EUR20 million.

Giovanni Natali - CEO of 4AIM SICAF - commented, "The EGM market throughout the year was negatively affected by a number of macro and microeconomic variables that obviously affected the results for the year. When comparing the FTSE Mib, STAR and the 5-year EGM, it is striking to note the unprecedentedly large gap that opened up in FY2023 to the detriment of the EGM with companies being sold on the market at a bargain price for technical and certainly not fundamental reasons."

"This is also evident from the equity research on 4AIM SICAF's segment 1 published in December 2023 by Envent and KT&Partners, which, also based on the fundamentals of the portfolio companies, gave a target price of EUR410 and EUR401 per share, respectively," Natali concluded.

4AIM Sicaf closed Monday's session in the green by 2.0 percent at EUR275.35 per share.

By Maurizio Carta, Alliance News reporter

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