SITI B&T : debuts on AIM Italia

• Through the IPO the company has raised 29 million euros on the market

• Market capitalisation at the close of the first day stands at 100 million euros

SITI-B&T Group S.p.A, a manufacturer of complete plants for the world ceramic industry, announces that today it began trading its ordinary shares, convertible bonds and warrants on AIM Italia/Mercato Alternativo del Capitale organised and managed by Borsa Italiana S.p.A..

Fabio Tarozzi, Managing Director of SITI-B&T Group, commented: 'We are very pleased with the success of the placement stage and with the interest shown by Italian and international institutional investors. Our debut on the AIM Italia market is a major milestone in our growth strategy and we are especially proud to be one of the most important listings in the segment in terms of both total raised capital and size. Ever since it was founded, our Group has evolved constantly and has been able to respond to market challenges through investments and targeted acquisitions. We are now looking forward to ambitious projects that require a renewed joint commitment because Siti-B&T Group sees the stock market launch not as a destination but as a starting point.'
Salvatore Genovese from Banca Popolare di Vicenza added: 'We are proud to be able to support entrepreneurs like the Barbieri and Tarozzi families, who have made their company an excellent global ambassador for Italian business. SITI B&T is a concrete example of how Italian SMEs with high growth potential are able to finance their development through AIM Italia.'

Placement
Placement was completed very successfully with requests from Italian and international accredited investors and from the Italian general public. Overall demand exceeded supply.
The total value of the capital raised through the operation is 29 million euros, including 26 million euros through the issue of ordinary shares and 3 million euros through the issue of convertible bonds.

Warrants, granted free of charge with shares (1 for every 10 shares owned), recorded a value of 1.50 euros each, so investors who were shareholders on the trading start date were able to benefit from a theoretical performance of around 2%.

Ordinary shares were assigned the following identification codes: ISIN code IT0005171936, Alphanumeric Code SITI.

Warrants were assigned the following identification codes: ISIN code IT0005174518.

Convertible Bonds were assigned the following identification codes: ISIN code IT0005172165.

The figures for SITI-B&T Group:

- estimated 2015 turnover: approx. 171 million euros
- estimated 2015 EBITDA: approx. 17 million euros
- turnover generated abroad: approx. 80%
- turnover CAGR 2009-2015: approx. 14% (from approx. 80 million euros at the end of 2009 to approx. 171 million euros in 2015)

SITI-B&T Group's IPO:

- the largest placement of financial instruments for an industrial company made on AIM Italia by a single Global Coordinator
- the industrial group with the highest TURNOVER (2015 estimates) to be listed directly on AIM
- an innovative structure of the offering based on the introduction of Remedy Shares as an investor protection mechanism

Capital Increase
The capital increase has been fully subscribed and paid up. Share capital, consisting of a total of 12,500,000 ordinary shares, amounted to 8,950,000 euros on the trading start date.
On the first day of trading the shareholding structure is as follows:

Shareholder No. of shares % of number of shares in circulation

Barbieri & Tarozzi 9,250,000 74.00
Holding

Market 3,250,000 26.00
Total 12,500,000 100.00

Siti-B&T Group also announces that as of the date of admission to listing, the Board of Directors consists of the following 5 members: Fabio Tarozzi (Chairman and Managing Director), Marco Tarozzi (Managing Director), Giovanni Barbanti (Independent director), Federico Palmieri (Director), Claudio Forlani (Director). The new Board of Directors will remain in office until the date of the meeting called to approve the financial statements to 31 December 2018. At the Ordinary Meeting called for 18 April 2016, the majority shareholder B&T Holding S.p.A. intends to appoint two additional independent directors, Mario Pagani and Gianfranco Buschini. Following these appointments, the company's Board of Directors will have three independent directors.
SITI- B&T Group is assisted in the procedure for admission to trading on AIM Italia by: Banca Popolare di Vicenza as Nomad, Global Coordinator and Sole-Bookrunner, SCOA Studio Consulenti Associati as Financial & Legal Advisor, Thymos Business & Consulting as Co-Financial Advisor, Intermonte SIM as Specialist, BDO as auditors, Grimaldi Studio Legale as Legal Consultant and Starclex for aspects of corporate governance.