Italian Exhibition Group S.p.A. (BIT:IEG) signed an agreement to acquire 51% stake in Palakiss S.R.L. for ?1 million on February 21, 2024. The acquisition represents a further step in the strategy defined by the Group in increasing and enriching IEG's product portfolio. The acquisition is an opportunity to strengthen the sector specialization of the jewelry industry that we serve and support in order to create continuous business opportunities.

The acquisition will enable IEG to expand its offer in the Jewellery & Fashion sector. The acquisition by IEG is financed with own financial resources. The acquisition also includes a call option for the purchase of the remaining 49% of the share capital, that can be exercised 30 days after the approval of the 2024 financial statements and will be valid for the following 3 years, at a price to be determined on the basis of the average EBITDA resulting from the two financial statements approved prior to the exercise date of the option.

The closing, subject to the suspensive conditions stated in the investment agreement, will be finalized subsequently.