Acotel : Monthly report (July 2019) required by art. 114, paragraph 5 of Legislative Decree 58/98

PRESS RELEASE

ACOTEL GROUP: monthly report required by art. 114, paragraph 5 of Legislative Decree 58/98

In compliance with the request sent by the CONSOB on 8 November 2016, pursuant to article 114, paragraph 5, of Legislative Decree 58/98, we report the following information on Acotel Group SpA and the Group that it heads as of the date of 31 July 2019:

1. Net funds with separate indication of theshort-term and medium/long-term components.

Acotel Group SpA	(€000)
	31 July 2019
A. Cash and cash equivalents	947
B. Liquidity (A)	947
C. Current financial receivables due from related parties	693
D. Current financial assets (C)	693
E. Current bank borrowings	(110)
F. Other current financial liabilities	(13)
G. Current net debt (E+F)	(123)
H. Non-current bank borrowings	(193)
I. Other non-current financial liabilities	(14)
L. Non-current net debt (H+I)	(207)
M. Net funds (B+D+G+L)	1,310
Acotel Group	(€000)
	31 July 2019
A. Cash and cash equivalents	2,131
B. Assets held for trading	262
C. Liquidity (A + B)	2,393
D. Current bank borrowings	(110)
E. Other current financial liabilities	(24)
F. Current financial liabilities (D+E)	(134)
G. Non-current bank borrowings	(193)
H. Other non-current financial liabilities	(18)
I. Non-current net debt (G+H)	(211)
L. Net funds (C+F+I)	2,048

At 31 July 2019 Acotel Group SpA has a financial receivable of $ 3,551 thousand with maturity at 27 March 2024 towards to the related company (25% stake) Bucksense Inc..

1. Past due payables, distributed by type (financial, trade, tax, social security or amounts due to employees) and any related initiatives in response from creditors (requests, demands, cessation of supply, etc).
   There are no past due payables of a financial, tax or social security nature or past due amounts due to employees, with the exception of €131,784.44 in tax and social security liabilities due for payment on 16 November 2018. Payment of the related amounts has been postponed solely for the period of time strictly necessary to evaluate the results of preparations for an assessment of the tax deductibility of research and development activities pursuant to art. 3, paragraph 4 of Law Decree 145 of 21 December 2013 carried out in 2015 and 2016.
   In terms of trade payables, it is noted that payment schedules are in place with some suppliers that exclude recourse to formal debt recovery actions by the same.
2. Key changes in relations with the Company's and the Acotel Group's related parties
   At 31 July 2019, there has been no material change in relations with the Company's and the Acotel Group's related parties compared to Annual report 2018 approved by the ordinary General Meeting of shareholders on 19 April 2019.
   With regard to the changes in the relationships between Acotel Group SpA and its subsidiaries included in the scope of consolidation, as well as directly between the latter, the related transactions are all conducted in the ordinary course of business typical of a group of companies and thus on an arm's length basis. There have been no atypical and/or unusual transactions, or such as might be considered to constitute a potential conflict of interest.

The manager responsible for the Group's financial reporting, Andrea Severini, hereby declares, pursuant to article 154-bis, paragraph 2 of Legislative Decree 58/1998 (the Consolidated Law on Finance), that the information in this press release is consistent with the underlying accounting records.

Rome, 30 August 2019

For further information contact:

Acotel Group S.p.A.

Davide Carnevale

Investor Relations

Tel. [phone]

e-mail:[e-mail]