(Alliance News) - Fenix Entertainemnt Spa on Wednesday evening disclosed that it has filed with the Court of Milan, specialized business section, a complaint against the order of Nov. 18, 2023, in which the Court of Milan ordered Fenix to immediately issue and assign to Negma 244,589,967

shares.

The company also announces that it has opened a negotiating table with Negma, from which specific guidelines shared between the parties have emerged, which will be the subject of the petition that Fenix will file with the Court of Rome for the purpose of authorization by the judge of the procedure. In the event of authorization, the guidelines will form the basis for reaching a possible settlement agreement between the parties, albeit without any recognition of their respective claims.

The aforementioned settlement guidelines basically provide for the injection of new finance always in the form of convertible bonds by Negma for EUR1 million in 8 tranches, the first one of EUR200,000, the subsequent ones of EUR100,000 each, with a 10% commitment fee that will be recognized through free allocation to Negma of a corresponding amount of convertible bonds.

By Maurizio Carta, Alliance News reporter

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