Arena opens with a bang (+7%) after agreement with Logint

Good start to the day for the Arena share, which shortly after the start of trading recorded a +7,36% at 0,0248 euro per share in Piazza Affari. The leap forward is probably due to the agreement signed yesterday by the food company with Login, which undertook to subscribe by 31 December 2012 to a capital increase in the Arena for 10 million euros by offsetting receivables. The agreement also contemplates the possibility for Logint of new capital increases for a further 15 million (again at 0,026 per share) by 31 December 2012 through conversion of other credits brag to Arena or cash deposit. According to the company, this capital increase, which will be formally approved in the next few days, should be the first step towards its balance sheet recovery. After the initial exploit, the food company's stock registers at 10 a gain of 4,33%.