Emak SpA : Emak S.p.A. capital increase completed

Press Release

EMAK S.p.A.

Disclaimer

These materials do not constitute or form part of an offer to sell or the solicitation of an offer to buy the securities discussed herein. It may be unlawful to distribute these materials in certain jurisdictions. These written materials are not for distribution in the United States, Australia or Japan and the information contained herein does not constitute an offer of securities for sale in the United States, Australia or Japan. The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offer of the securities in the United States.

Emak S.p.A. capital increase completed with the subscription of all the new ordinary shares offered

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Bagnolo in Piano (RE), 20 December 2011 - Emak S.p.A. announces that, as of today, the rights offering of no. 136,281,335 Emak S.p.A. new ordinary shares issued in the context of the Capital Increase (the "Shares"), resolved by Emak S.p.A.'s Board of Directors on 27 September 2011 and on 17 November 2011, by virtue of the power granted to the Board of Directors by the Extraordinary Shareholders' Meeting held on 20 September 2011, was concluded.

Following the conclusion of the offer of the unexercised rights on the Italian Stock Exchange pursuant to Art. 2441, paragraph 3, of the Italian Civil Code, which was early terminated further to the fact that all the unexercised rights were taken up in full during the first trading session, all the remaining no. 1,397,955 Shares were subscribed, each with a nominal value of euro 0.26, having the same characteristics as the outstanding ordinary shares and a dividend entitlement as of 1 January 2011, at a subscription price of euro 0.425 per share, and at a subscription ratio of 5 Shares for each 1 right, corresponding to a total amount of euro 594,130.87.

The rights offering thus closed with the subscription of all the no. 136,281,335 Shares, corresponding to the 83.1% of the new share capital, corresponding to a total amount of euro 57,919,567.37, gross of commissions and fees. As a result, no Shares were subscribed for by Mediobanca - Banca di Credito Finanziario S.p.A, which, by means of the underwriting agreement entered into by Emak S.p.A. on 18 November 2011, should have subscribed for any Share (excluding the Shares subscribed for by Yama S.p.A. pursuant to the above mentioned commitment) which might have remained unsubscribed after the offer on the Italian Stock Exchange of the unsubscribed rights.

After completion of the capital increase, the share capital of Emak S.p.A. will therefore amount to euro 42,623,057.10 represented by 163,934,835 ordinary shares, each with a nominal value of euro 0.26.

In accordance with the commitment undertaken on 5 August 2011, Yama S.p.A. has exercised all the rights to which it was entitled in the context of the Capital Increase and in relation to all Emak S.p.A. shares it owns  (corresponding to the 74.285% of the share capital of Emak S.p.A. and to the 75.368% of the share capital excluding the treasury shares owned by Emak S.p.A.).

Consequently, Yama S.p.A. subscribed 102,712,500 Shares, for a total amount of euro 43,652,812.50.

Following the subscription of the Capital Increase, Yama S.p.A. will hold the 75.185% of the total share capital of Emak S.p.A. (corresponding to the 75.368% of the share capital excluding the treasury shares owned by Emak S.p.A.).

For additional information:

Mr. Andrea La Fata

Investor Relator

Phone [phone]; Fax [phone]

[e-mail]; www.emak.it

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Emak is one of the top European operators in the manufacture and distribution of outdoor power equipment for gardening, forestry, agriculture and construction such as brush cutters, lawnmowers, chainsaws, motor hoes and power cutters. Emak operates worldwide with the brands Oleo-Mac, Efco, Victus, Bertolini and Nibbi, offering a full range of products broken dowm in 23 product families and over 240 models. The Group distributes its products through 9 commercial branches and a network of nearly 20,000 dealers in more than 80 countries in all five continents. In 2010 the Emak Group realized a total turnover of € 206.8 million and counted around 1,000 employees .The parent company Emak S.p.A. has obtained the following certifications: Quality ISO 9001, Ethical SA 8000 and Environmental ISO 14001.