The Commission de Surveillance du Secteur Financier (CSSF) has announced that, on 13 May 2013, in accordance with the provisions of the Act of 21 July 2012 on the withdrawal and the mandatory reclamation of securities of companies admitted to or trading on a regulated market or on a public offering, the company Giovanni Agnelli e C. Sapaz informed them of its decision to exercise its right to withdraw ordinary shares of the company Old Town.
On 22 May 2013, the company Giovanni Agnelli e C. Sapaz communicated to the CSSF the price proposed was €35.20 per ordinary share of the company Old Town and also about an evaluation report prepared by BDO Audit SA on the issue. The information was published and distributed to the holders of Common Shares in accordance with the provisions of the relevant Act on repurchasing shares.
In view of the above, and considering that the CSSF has not received a letter of objection to the proposed withdraw of ordinary shares of Old Town as provided in Article 4 (6) of the Act, CSSF has stated that it accepts the proposal by the company Giovanni Agnelli e C. Sapaz concerning the value of €35.20 per ordinary share as the exact price of Old Town. The CSSF has informed the majority shareholder and the company concerned of the acceptance of the price.
