(Alliance News) - Prismi Spa has announced that the board of directors has accepted investment proposals in the company from Alascom Srl and other financial investors.

Alascom has committed to subscribe to a capital increase in exclusion for a total consideration of between EUR3.7 million and EUR4.6 million, at a maximum price of EUR0.065 per share.

An additional amount of between EUR1.6 million and EUR2.5 million through the contribution by December 20 of capital stakes of less than 50 percent in the two companies M.R. Service Srl and Alascom ICT Srls, wholly owned by Alascom, at a maximum price of EUR0.065 per share, with the shares issued by December 28.

Should the value resulting from the appraisals, of the two contributions in kind described above be less than EUR1.6 million, the difference will be settled through bank transfers, in the same amount, to be made by May 31, 2024 and by June 30, 2024 or with shares in another company in which the Alascom group has an interest, at the investor's choice.

In addition, Alascom will also pay EUR1.3 million in cash by Dec. 22.

Still, the board then decided to increase the capital by EUR4.4 million, with shares and warrants to be subscribed by Alascom, which will come to hold 19.2 percent after the first tranche of shares resulting from the company's commitment to invest in Prisms.

Prismi closed Wednesday down 3.2 percent at EUR0.11 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.