Galileo Otto S.à r.l. launched a voluntary totalitarian tender offer to acquire SICIT Group S.p.A. (BIT:SICT) for approximately €360 million on April 16, 2021. Under the transaction, offeror will acquire 22.648539 million shares of Sicit at a price of €16 per share. Purchase Price may be reduced by any possible dividend per share whose distribution may be resolved upon by the relevant corporate bodies of the Issuer and actually paid before the date of payment of the consideration. As of June 4, 2021, the purchase price per target shares is €15.45 per share. As of July 6, 2021, offers from today to Friday July 9, 2021, including €16.80, with an increase of €1.35 compared to the consideration of €15.45 initially offered net of the 2020 dividend equal to 0.55 euros. For the sake of completeness, Sicit’s Board of Directors proposed that the shareholders' meeting convened for April 29, 2021 approves a dividend of €0.55 per share. As a part of transaction, one shareholder holding 9,142,100 shares representing 43.4% of Sicit’s shares, signed a binding term sheet to tender all of shares under the offer. Post transaction, offeror wants to delist Sicit from Mercato Telematico Azionario, organised and managed by Borsa Italiana S.p.A. The offeror aims at ensuring the stability Sicit's shareholder ownership and the continuity of its management team. The completion of the Offer is conditional upon the fulfilment of the Shares validly tendered to the Offer represent a total number of Shares such as to enable offeror to hold an overall interest equal to or more than 95% of Sicit's share capital, the non-occurrence, within the second trading day prior to the date of payment of the Consideration, of (i) extraordinary events or circumstances triggering significant changes in national or international political, financial, economic, monetary or market situation, which have material adverse effects on the Offer and/or Sicit, or (ii) events or situations concerning Sicit and unknown to offeror and/or the market as at the date of this Notice, which result in, or may reasonably result in, material adverse changes on Sicit from a capital, economic or financial perspective in comparison with the situation resulting from Sicit's financial statements as at December 31, 2020 (the “MAC Condition”) and other conditions. In case offeror receives acceptance by minimum of 95% shares under tender offer, then offeror declares its intention to exercise the squeeze-out right for the purposes of purchasing any residual Share pursuant. As of June 7, 2021, National Commission for Companies and the Stock Exchange (CONSOB) of Italy has approved the transaction. As of June 4, 2021, the period of acceptance of the Offer, agreed with Borsa Italiana S.p.A., will start June 14, 2021 and will end, unless extended on July 7, 2021, inclusive (the “Acceptance Period”). Therefore, July 7, 2021 will be the last day to accept the Offer, unless the Acceptance Period is extended and subject to any reopening of the terms. The price offered by the Offeror for each Issuer’s share tendered to the Offer is equal to €15.45 and against the simultaneous transfer of ownership of the shares to the Offeror will be entirely paid in cash on July 14, 2021. As of July 14, 2021, all conditions has been fulfilled and condition of minimum tender was waived off. As of July 15, 2021, 19.059525 million Shares have been tendered to the Offer and the Market Purchased Shares after completion of the Offer, the Offeror will own 88.26% of the share capital. Since the Offeror has renounced the Threshold Condition, and the condition under Article 40-bis, paragraph 1, letter a), of the Issuers’ Regulations has therefore occurred, the Reopening of the Terms will apply on the dates identified pursuant to the Increase Press Release. Therefore, by the Trading Day following the New Payment Date i.e. July 16, 2021, the Acceptance Period will be reopened for 5 Trading Days from July 19, 2021 to July 23, 2021. On July 30, 2021, therefore, the Offeror will pay to each shareholder who has tendered its Shares during the Reopening of the Terms the consideration due by such Offeror for each Share tendered during the Reopening of the Terms.The deal is expected to be completed by July 7, 2021. As on July 6, 2021, the subscription period has been extended by two days to end on July 9, 2021 with the payment date scheduled for July 16, 2021. As of July 19, 2021, The offeror have attained 90.3% stake in SICIT by acquiring 217,500 Shares on first day of reopening of offer and crosses 90% delisting threshold and it will soon it reach to threshold of 95% for Squeeze out. As of July 23, 2021, additional 1,590,297 Shares have been tendered to the Offer, corresponding to 7.04% of the Shares subject to the Offer. The final results of the Offer will be announced by July 29, 2021. Intesa Sanpaolo S.p.A. (BIT:ISP) acted as financial advisor and Legance - Avvocati Associati acted as legal advisor to Galileo Otto S.à r.l. and Neuberger Berman Aifm Luxembourg Sarl , Asset Management Arm. Chiomenti Studio Legale acted as legal advisor to the shareholder of Sicit, holding 43.4% of Sicit’s shares. Morrow Sodali S.p.A acted as agent for SICIT Group in the deal. Galileo Otto S.à r.l. completed the acquisition of SICIT Group S.p.A. (BIT:SICT) on July 23, 2021. Taking into account the Shares tendered to the Offer both during the Acceptance Period and the Reopening of the Terms, Offeror holds 96.57% stake in SICIT, which allows the Offeror to achieve the Delisting. On the basis of the final results of the Offer, the legal requirements for the exercise of the Right to Purchase – which shall be exercised by the Offeror and for the fulfilment of the Purchase Obligation under Article 108, paragraph 1, of the TUF in relation to the remaining 773,853 Shares, equal to 3.43% of SICIT's share capital are met. The Joint Procedure or squeeze-out will become effective on August 5, 2021.