In the event of non-approval of the capital increase by theRCS assembly,agreement reached with the banks for debt refinancing “could not be finalized. Therefore, the company could not repay the credit lines and this would imply the need to immediately review the plan". This was stated by the managing director of Rcs Media Group, Pietro Scott Iovane, upon specific request by Consob.
If the shareholders' meeting currently underway rejects the capital increase proposal, Iovane explained, the company "will have to quickly develop an alternative plan, with a further valorisation of assets to be disposed of, even core ones, and with the rescheduling of bank debt maturities. Even though there is still positive equity at 30 March, even after covering the losses, there is no doubt that the company needs to increase its equity”.
A few minutes from the closing of trading, the Rcs stock on the Stock Exchange is traveling just above parity.
