(Alliance News) - Holding Stilosa Spa announced Tuesday that it has increased the consideration offered to take over the shares and warrants of Nice Footwear Spa.

In detail, for shares, a consideration of EUR12.30 each is offered from the previous EUR12.00 while, for warrants, the offer increases to EUR2.00 from EUR0.20.

The new offer for shares represents a premium of 8.9 percent over the EUR11.30 value on November 4, i.e., the day before the takeover bid was announced. The new consideration for warrants, on the other hand, shows a 29% higher value than on November 4.

Against the new consideration, Holding Stilosa announced that it has received subscription commitments for a total of 189,750 shares, representing 9.3 percent of Nice Footwear's share capital and 18 percent of the shares subject to the Tender Offer; and a total of 53,570 warrants, representing 21 percent of the outstanding warrants and subject to the warrant offer.

In light of the new coirrispettivi, the bidder would come to spend EUR12.9 million in case of total shareholder acceptance and EUR519,660 for the warrants.

Nice Footwear's stock closed Tuesday up 0.4 percent at EUR11.90 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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