Pattern, subsidiary sign agreement to acquire additional 30 percent of RGB

(Alliance News) - Pattern Spa announced Tuesday that Idee Partners Srl, a company currently its subsidiary, has signed a framework agreement with Paolo Benedetti to acquire from him an additional 30 percent of the share capital of RGB Srl, a Tuscan company specializing in the production and processing of leather accessories, to hold 100 percent of the latter's share capital at the closing of the transaction.

As of today, Idee Partners, which is 54 percent owned by Pattern and 46 percent by Idee Holding Srl, holds 70 percent of RGB's share capital.

"The Pattern group thus officially consolidates its position in leather goods with the group's Tuscan Leather Goods Pole: one of the main Independent Industrial Poles in Tuscany, integrated with both the design and Made in Italy production phases, through the presence of its subsidiary Idee Partners, which in turn holds 100 percent of the share capital of the historic Tuscan leather goods company Petri&Lombardi," the company explained in a note.

The transaction closed at a total price of EUR1 million to be paid in cash at closing and is also preparatory to enabling a possible merger by incorporation of RGB into Idee Partners at a later date.

Thus, the shareholders of Idee Partners have committed to approve at the closing a capital increase of Idee Partners on a divisible basis and for a reserved consideration to be subscribed by Paolo Benedetti for a countervalue of EUR500,000.00, against the issuance of shares equal to 2% of the share capital of Idee Partners.

As a result of the above, the corporate structure of Idee Partners following the transaction will be Pattern at 52.92%, Idee Holding at 45.08%, and Paolo Benedetti at 2%.

In addition, at the closing, a contract is expected to be signed governing the granting of a call option by Paolo Benedetti to Pattern and Idee Holding, exercisable from June 30, 2025 and until June 29, 2027, and the granting of a put option by Pattern and Idee Holding to Paolo Benedetti, exercisable from October 1, 2025 and until September 30, 2028, for the sale of the 2 percent of Idee Partners' share capital that will be held by Paolo Benedetti.

On Tuesday, Pattern closed in the green by 1.5 percent at EUR7.00 per share.

By Claudia Cavaliere, Alliance News reporter

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