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    OLI   IT0001350625

OLIDATA S.P.A.

(OLI)
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Olidata S p A : Press release Presentation of the Composition plan in continuity - Integration

09/18/2021 | 10:22am EDT

Pievesestina di Cesena, September 18 2021

Press Release

OLIDATA S.P.A.

COMPOSITION PLAN IN CONTINUITY

Agreement with creditors plan pursuant to Articles 161 and 186-Bis L.F. 8

With reference to the press release issued on September 11, 2021, the company Olidata SpA, while waiting for the Court of Forlì to express itself on the merits of the proposed plan presented, deems it appropriate to inform the market about the adjustments made to its accounting records as a result of which the economic and financial situation originated on May 13, 2021, the starting date of the maneuver, shown below.

It should be noted that, with respect to the "instant" valuation of company assets contained in the report by Dr. Arrighi, the flow available to creditors in the proposed maneuver is higher by Euro 1,433 thousand, by virtue (i) of the lower cash flow deriving from the failure to implement the "Olidata" trademark within the framework of the presented Plan, valued in the appraisal pursuant to art. 160, co. 2, l.f. in an amount equal to the estimate resulting from the appraisal prepared by Prof. Riccardo Tiscini, concerning the value of the brand in a scenario of forced liquidation; (ii) the greater cash flow deriving from external finance for Euro 2,127 thousand, which is entirely destined to service the pre-deductible, privileged and unsecured debt (including the component of privileged debt downgraded to unsecured rank).

THE COMPOSITION PLAN

The Plan is based on direct continuity, through the continuation of business activity by the Company and is of a mixed type, with a prevalence of flows deriving from business continuity over those deriving from the liquidation of assets not functional to the exercise of the same.

In particular, this Plan is based on the following assumptions:

  • Contribution of external finance by Sferanet S.r.l., for Euro 500 thousand;
  • Contribution of external finance by Le Fonti Group S.r.l. Benefit Company, for Euro 1,627 thousand;
  • Sale of the 100% shareholding held by Olidata in Italdata S.p.A., for a value of Euro 350 thousand, equal to the estimated value of the investment in a scenario of forced liquidation resulting from the expert opinion of Prof. Riccardo Tiscini.

THE OFFER OF SFERANET S.R.L.

On June 23, 2021, the Company signed a letter of intent with Sferanet S.r.l. (hereinafter also "Sferanet"), a company with registered office in Rome, Via Giulio Vincenzo Bona 120, Tax Code 10223951004, in the person of the Chairman of the Board of Directors, Cristiano Rufini, and with its shareholders, Cristiano Rufini (majority shareholder) and Luca Proietti.

In particular, Sferanet has been a leader since 2008 in the sectors of System Integration and Digital Transformation through the design, implementation, and management of solutions and services and is able to undertake important systems integration projects, implement the security of traditional IT platforms, implement new digital platforms.

Sferanet works with the most important companies in the public and private sector and collaborates with the main technological players, and is present with offices in Rome, Milan and Cagliari.

Sferanet currently has a turnover of over Euro 30,000 thousand, with a gross operating margin of over 10%. Furthermore, Sferanet has already sent the Company the descriptive lines of its industrial plan 2021-2024, which show, for 2021, an expected turnover of Euro 35,000 thousand and an EBITDA of approximately Euro 3,900 thousand; and, for 2022, an expected turnover of Euro 40,000 thousand and an EBITDA of approximately Euro 4,900 thousand.

The letter of intent had as its subject the main terms and conditions for the acquisition by Sferanet or its shareholders of an investment in Olidata up to 40% of its share capital, possibly also by means of the transfer of a company or business unit to following a resolution to increase the share capital in kind reserved for Sferanet.

Following the completion of the due diligence on Olidata, Sferanet and its shareholders confirmed their willingness to subscribe to the capital increase that will be approved by the Company.

In particular, on September 10, 2021, Olidata and Sferanet signed a private agreement pursuant to which the second undertakes to pay to the first, by way of non-repeatable external finance, the amount of Euro 500 thousand to be used for payment. of bankruptcy debts according to the provisions and deadlines indicated in the composition plan. In particular, the contribution is subject to the occurrence of the following conditions:

  1. admission, pursuant to art. 163 of the Bankruptcy Law of Olidata to the composition procedure; (ii) homologation of the Proposed Agreement of Olidata;
  1. assumption of the resolution of the Shareholders' Meeting and of the Olidata Board of Directors of the share capital increase reserved for the shareholders of Sferanet equal to 40% of Olidata, resolution suspended and enforceable only upon full execution of the composition plan;
  1. payment by Le Fonti Group in favor of the composition procedure of Olidata, of the sum of Euro 1,627 thousand within 10 days of the final approval of the agreement of Olidata.
    For its part, Olidata has undertaken within 30 days of the approval decree, in compliance with the provisions of special laws, including the Consolidated Finance Act and the Consob Issuers' Regulation and the current European provisions applicable to companies listed on regulated markets, to call the Extraordinary Shareholders' Meeting to approve an increase in the share capital (equal to 40% of the share capital of Olidata with no debts) reserved for the shareholders of Sferanet to be released through the contribution in kind of at least 51% of the shareholding in the share capital of Sferanet, in accordance with an expert report pursuant to art. 2343 of the Italian Civil Code and in compliance with the applicable legislation for the trading of securities of listed companies.

AGREEMENT PROPOSAL AND SATISFACTION PERCENTAGES

In consideration of the above-mentioned active flows and having regard to the value of the corporate assets in the liquidation scenario as estimated in the report pursuant to art. 160, co. 2, l.f., the composition proposal provides:

  1. the full payment of pre-deductible debts;
  2. the full payment of the privileged debts towards employees pursuant to art. 2751-bis n. 1 c.c.;
  3. the degradation to unsecured:
  • partial payables due to professionals pursuant to art. 2751-bis n. 2 of the Italian Civil Code, to the extent of 95%;
  • full amount due to artisans pursuant to art. 2751-bis n. 5 of the Italian Civil Code.;
  • full compensation VAT pursuant to art. 2758, co. 2 of the Italian Civil Code, on the basis of the appraisal pursuant to art. 160, paragraph 2, of the Italian law of the professional appointed Dr. Alessandro Arrighi;
  • full social security payables pursuant to art. 2753 (payables to INPS and INAIL) and 2754 (payables to supplementary welfare institutions and payables for accessories referring to payables pursuant to Article 2753) of the Italian Civil Code.;
  • full of privileged tax debts pursuant to art. 2752, paragraphs 1 and 3 of the Italian Civil Code.

4. the partial payment of the unsecured debts, including the privileged debts downgraded to the unsecured point referred to in the previous point, to the following extent for the individual classes:

  • Class 1 - payables to professionals pursuant to art. 2751-bis n.1 of the Italian Civil Code and artisans pursuant to art. 2751-bis no. 5 of the Italian Civil Code degraded to unsecured: 7% satisfaction;
  • Class 2 - tax and social security debts downgraded to unsecured, also subject to settlement pursuant to art. 182- ter l.f .: satisfaction of 6%;
  • Class 3 - other unsecured debts: satisfaction to the extent of 5%.

No satisfaction is expected for subordinated creditors under the composition plan.

BALANCE SHEET ECONOMIC SITUATION AS OF MAY 13, 2021

Account Description

Balance

costi di impianto Olidata IID

5.246,74

F.do Amm. C.Imp. Olidata IID

-

5.246,74

-

costi di impianto e ampliamento

-

-

Marchi Olidata

4.924.821,46

F.do Ammort.Marchi Olidata IID

-

551.891,27

-

concessioni, licenze, marchi e

4.372.930,19

-

immobilizzazioni immateriali

4.372.930,19

-

Impianti generici

10.880,98

Macch.Op. e Impianti specifici

11.307,41

f.do amm.to Impianti generici

-

10.880,98

f.do amm.to Macch.Op.Imp.spec.

-

11.165,53

-

Impianti e macchinario

141,88

-

Attrezzature

3.937,39

Mobili

47.007,84

macchine d'ufficio elettroniche

18.122,86

Automezzi

-

Cespiti Inferiori a € 516

66.042,48

Impianto Di Allarme

30.050,56

F.do amm.Attrezzature

-

3.937,39

F.do amm.to mobili

-

46.615,27

F.do Amm.to macchine d'ufficio

-

18.122,86

F.do amm.to Automezzi

-

F.do amm. Cespiti inf. a € 516

-

66.042,48

F.do Amm.to Impianto Di Allarm

-

30.050,56

-

Attrezzature industriali e comm

392,57

-

immobilizzazioni materiali

534,45

-

Componentistica in manutenzione

77.560,75

Prodotti finiti

272.828,69

-

Rimanenze

350.389,44

-

ELETTRONICA ROSSI

108,58

GDC DI G. CASCIO

1.387,14

DATA POLARIS S.R.L. IN LIQUIDA

42.057,48

OLIDATA ENERGY S.R.L. IN LIQUI

169.832,12

UFFICIO GAMMA

3.241,54

DISMANO DISTRICT S.R.L.

150,47

Crediti In Contenzioso

4.751,41

-

verso clienti SOHO

221.528,74

-

AZIENDA USL DI REGGIO EMILIA

514,80

I.N.A.I.L-DIR.CENTR.SERV.INF.E

11.166,35

SOGEI S.P.A.

138,47

MINISTERO DELLA GIUSTIZIA

756,09

COMUNE DI CAPO D'ORLANDO

57,45

MINISTERO DELL'INTERNO

65,33

MINISTERO DELL'INTERNO

127,72

PROVINCIA DI RAVENNA

1.408,56

COMUNE DI SASSO MARCONI

184,88

COMUNE DI RICCIONE

250,93

COMUNE DI MONTEVARCHI

115,39

COMUNE DI PALMA DI MONTECHIARO

106,15

COMANDO GENERALE GUARDIA

8.988,91

COMUNE DI FICARAZZI

278,63

PROVINCIA DI TERNI

941,36

COMUNE DI BARI

279,69

E.N.E.A. - CASACCIA

440,39

COMUNE DI PERUGIA

320,17

AZIENDA OSPEDALIERA

1.150,51

MINISTERO DELLA GIUSTIZIA

260,88

COMUNE DI TERNI

2.078,04

A.U.S.L. N. 5 ORISTANO

143,57

CUP 2000 SCPA

1.348,90

GUARDIA DI FINANZA

112,40

COMUNE DI ANCONA

901,33

AZIENDA OSPEDALIERA DI PADOVA

257,42

AZIENDA ULSS N. 16 PADOVA

427,95

COMUNE DI EBOLI

569,50

PROVINCIA DI MILANO

362,67

COMUNE DI ARCUGNANO

113,64

COMUNE DI CASCINA

866,58

AZIENDA OSPEDALIERA DI COSENZA

259,44

AZIENDA OSPEDALIERA

1.586,61

ASUR MARCHE-AZIENDA SANITARIA

196,64

AZIENDA ULSS 14

757,68

ASL FOGGIA

470,66

ASL COMO

102,39

CRA-CONSIGLIO PER LA RICERCA E

149,35

COMUNE DI REGGIO CALABRIA

371,96

AZIENDA ULSS 12 VENEZIANA

865,20

AZIENDA UNITA' SANITARIA

870,43

IRCCS IST. GIANNINA GASLINI

88,07

COMUNE DI ASTI SETT.RIS.UMANE

379,25

GRUPPO TORINESE TRASPORTI SPA

5.062,68

PROVINCIA DI NAPOLI - AREA

132,26

MINISTERO DELLA DIFESA

86,74

UFF.TERRITORIALE DEL GOVERNO

80,70

MINISTERO DIFESA COMFOTER

383,95

ENAV SPA

65,80

AZIENDA REGIONALE ASL N.13

137,80

CAMERA DI COMMERCIO DI CROTONE

170,21

A.F.O.R.-AZIENDA FORESTALE

359,55

SICILIA E SERVIZI SPA

102.933,03

COMUNE DI BACOLI

1.595,50

COMUNE DI GELA

1.210,54

MINISTERO DELLA GIUSTIZIA -

122,51

COMUNE DI COMISO

123,90

ASL CASERTA

233,04

COMANDO GENERALE CC REP. AUT.

138.429,64

DIR. CASA CIRCONDAR. TRIESTE

91,91

LEGIONE CARABINIERI CAMPANIA

173,79

COMUNE DI BOLOGNA

1.182,22

AZIENDA OSPEDALIERA

3.502,99

COMUNE DI MESSINA DIP.

244,15

MINISTERO DI GIUSTIZIA

351,24

ASL SALERNO

3.516,78

STATO MAGGIORE DELL'ESERCITO

18.205,43

AZIENDA SANITARIA PROVINCIALE

552,58

A.O.R.N MONALDI-COTUGNO-CTO

131,21

AZIENDA SANITARIA PROVINCIALE

2.111,68

PROVINCIA DI TERNI

1.265,92

ASL CN1

3.454,16

COMUNE DI CASTELLAMMARE DI

711,60

ASM AZIENDA SANITARIA LOCALE

163,85

AERONAUTICA MILITARE

5.102,44

COMUNE DI CATANIA

348,52

COMUNE DI ALBISOLA SUPERIORE

315,42

COMUNE DI MEZZOJUSO

140,16

COMUNE DI CATANIA

4.101,40

PROVINCIA DI NAPOLI

2.673,57

COMUNE DI ROMA

817,32

UFFICIO 2 - MOTORIZZAZIONE

1.161,85

MINISTERO DELLA GIUSTIZIA

1.902,02

I.R.C.C.S.-ISTITUTO NAZIONALE

390,55

I.N.P.S. - DIREZIONE CENTRALE

149.663,97

COMUNE DI MARCIANISE

68,87

COMUNE DI CAVA DE' TIRRENI

123,36

COMUNE DI CASTEL SAN GIORGIO

333,79

AZIENDA SANITARIA PROVINCIALE

935,92

COMUNE DI AGRIGENTO

366,66

ASL AL

385,56

COMUNE DI GRAVINA IN PUGLIA

258,63

AZIENDA OSPEDAL. UNIVERSITARIA

903,43

COMUNE DI PAGANI

801,67

COMUNE DI BIASSONO

373,58

ASUR MARCHE

190,91

COMUNE DI FIVIZZANO

145,79

PRESIDENZA CONSIGLIO MINISTRI

197,62

MINISTERO DELL' INTERNO

181,72

MINISTERO ECONOMIA E FINANZE

170,23

MINISTERO DELLA DIFESA

185,55

COMUNE DI FIGLINE VALDARNO

108,95

MINISTERO DELLA DIFESA

167,68

ISTITUTO NAZIONALE DI FISICA

346,64

REGIONE SARDEGNA

681,00

ASL AVELLINO

373,92

REGIONE CAMPANIA

505,29

COMUNE DI MEOLO

301,85

MINISTERO POLITICHE AGRICOLE

544,08

COMUNE DI POLICORO

134,35

AUSL 1 SASSARI

286,83

UNIVERSITA' DEGLI STUDI PAVIA

106,15

COMUNE DI AGRIGENTO

163,38

COMUNE DI L' AQUILA

249,56

COMUNE DI SALERNO

1.778,66

UNIVERSITA' DEGLI STUDI UDINE

540,23

PROVINCIA DI RAVENNA

211,91

AZIENDA SANITARIA UNICA

242,65

MIN. INTERNO POLIZIA DI STATO

305,98

COMUNE DI POMEZIA

207,94

IRSAP - ISTITUTO REGIONALE

533,14

UNIVERSITA' STUDI DI PALERMO

100,76

D.A.P. - CASA DI RECLUSIONE

106,74

AZIENDA POLICLINICO UMBERTO I

929,77

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Olidata S.p.A. published this content on 18 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2021 14:21:05 UTC.


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