Snam demerger and listing of Italgas ordinary shares on the stock market are confirmed to come into effect from 7 November 2016
San Donato Milanese, 3 November 2016 – Snam and Italgas confirm the efficacy of the demerger and the consequent start of trading of the ordinary shares of Italgas on the MTA (Electronic Share Market) organized and managed by Borsa Italiana S.p.A. from 7 November 2016.
In particular, CONSOB has issued the equivalence opinion on the Information Document relating to the listing of the ordinary shares of Italgas on the Electronic Share Market, pursuant to article 57, subsection 1, letter d) of the Issuer Regulation.
The Information Document is available to the public on the Issuer’s website (www.italgas.it), on the Snam website (www.snam.it) as well as at the registered offices of the Issuer in via Carlo Bo 11, Milan, and of Snam, in Piazza Santa Barbara 7, San Donato Milanese (MI), and made available through the authorized storage mechanism called “NIS-Storage” managed by Bit Market Services S.p.A. (www.emarketstorage.com), as from tomorrow 4 November 2016.
A service entrusted to EQUITA SIM S.p.A. has been made available to Snam shareholders to regulate the negotiations with the single intermediaries adhering to the Monte Titoli S.p.A. system of shares that are not multiples of the minimum ratio, resulting from the application of the exchange ratio of 1 Italgas share for every 5 Snam shares held (the “Portions”). The Portions will be paid based on the official price of Snam shares on 7 November 2016. No expenses will be charged to shareholders for ancillary costs relating to the aforesaid transactions.
03 November 2016 - 18:40 CET