Pattern S.p.A. (BIT:PTR) signed a binding framework agreement to acquire 54% stake in Idee Consulting S.r.l from Idee Holding Srl A Socio Unico and Alex Albini for €4.03 million on October 25, 2021. The consideration may be subject to an adjustment mechanism (in price reduction) based on Idee Consulting's Net Financial Position as at 31 October 2021. Price will be paid by Pattern S.p.A. to the sellers at the date of execution of the purchase in proportion to their respective shares in the share capital. An amount of €3.8 million in favour of Idee Holding and an amount of €0.23 million in favour of Alex Albini. As per the the agreement Idee Holding Srl A Socio Unico and Alex Albini will sell 50.9% and 3.1% stake respectively in Idee Consulting Srl. Post completion Idee Consulting will be 54% owned by Pattern and 46% by Idee Holding S.r.l. Closing a shareholders' agreement is signed between Pattern S.p,A. and Idee Holding S.r.l. states i) a lock up constraint for Idee Holding S.r.l. concerning the actions of Idee Consulting S.r.l. for a period of 5 years from the date of ensuring, in order to ensure the stability of the current corporate structure; ii) the designation of a new Board of Directors of Idee Consulting S.r.l. made up of 5 members of which 3 appointed by Pattern (including the Chairman of the Board of Directors), 1 appointed by Idee Holding S.r.l. and 1 (nonexecutive) appointed by mutual agreement between the parties iii) the appointment of Claudio Delunas as Chief Executive Officer of Idee Consulting S.r.l. starting from two of the agreement and iv) the designation of a new Board of Statutory Auditors of which two standing auditors and one alternate auditor appointed by Pattern and one standing auditor (the Chairman of the Board of Statutory Auditors) and one alternate auditor appointed by Idee Holding S.r.l. The date of execution of the transaction will be no later than November 30, 2021. Gianni, Origoni, Grippo, Cappelli & Partners acted as legal and Ranalli E Associati acted as accountant and due diligence provider to Pattern.