GUALA CLOSURES S.P.A. ANNOUNCEMENT REGARDING RECENT NEWS IN THE PRESS
Alessandria, 4 February 2021. With reference to the news that appeared on 2 February in various media, according to which Special Packaging Solutions Investments S.à r.l. ("SPSI") is reported to have surpassed "the threshold of 50% of the share capital of Guala Closures" and have reached "44.8% of voting rights", based on information available to the general public, Guala Closures S.p.A ("Guala Closures" or the "Company") hereby clarifies that, as at the date of this press release, SPSI holds a share of the share capital and of voting rights Guala Closures that is lower than said thresholds, although in the future SPSI could surpass said thresholds by virtue of agreements signed by the same and communicated to the market on 8 December 2020.
It is common knowledge that certain agreements signed by Guala Closures envisage what is known as "change of control" clauses, namely clauses that have substantially the same effects following, for example, changes in the Company's shareholding structure.
Note that, in this regard, as at the date of this press release, SPSI's investment in terms of share capital and voting rights (based on communications made by the latter) does not qualify as any of the above categories. More specifically, note that the threshold needed to qualify as a "change of control" pursuant to the revolving loan agreement for a maximum of Euro 80 million, corresponds to 35% of the voting rights at the shareholders' meeting of Guala Closures, while said threshold pursuant to the settlement of the so-called "high yield" bond issue called "€455,000,000 Floating Rate Senior Secured Notes due 2024" corresponds to 50% of voting rights.
The Company is monitoring developments in the situation, so as to take the appropriate action if the circumstances envisaged by the above-cited "change of control" clause should arise.
Guala Closures Group
Guala Closures Group has more than 4,700 employees and operates in 5 continents through 30 production plants and markets its products in over 100 countries. The Group sells over 20 billion closures each year with a 2019 turnover of 607 million Euros. Thanks to a policy of continuous business development and technological innovation, the Group is recognized as a global benchmark in the production of alcohol safety closures and is a leading manufacturer of aluminium closures for spirits, wines and beverages.
From August 2018, Guala Closures S.p.A. has been listed on the STAR segment of the Italian Stock Exchange, entering the FTSE Italia Mid Cap index in September 2019.
Find out more on www.gualaclosures.com
For information: Guala Closures S.p.A. Investor Relations: Alessandro Baj Badino Tel +39 0131 753281 abajbadino@gclinternational.com
Press contacts
True Relazioni Pubbliche
Federica Menichino - 3496976982 - f.menichino@true-rp.it Pietro Ferreri - 3319019581 - p.ferreri@true-rp.it
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Guala Closures S.p.A. published this content on 04 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2021 17:10:01 UTC.
