The title of Trevi, listed in the Small Cap segment. In mid-morning the shares of the Cesena group specializing in subsoil engineering rallied by 10,88%, to 0,27 euro, and have recently returned to trading after a long suspension in the volatility auction.
The wave of purchases on Trevi was triggered by the announcement that the company's board of directors had given the green light to the plan for asset strengthening and debt restructuring. In particular, the group has put in the pipeline a capital increase of 130 million euros as an option to shareholders (fully guaranteed by Fsi Investimenti, Polaris and by the lending banks), an increase reserved for lending banks for 63,1 million by credit conversion e a further increase of about 20 million at the service of the issuance of loyalty warrants.
The plan also provides new credit lines for 41 million, in addition to the confirmation of existing ones for a maximum of 200 million.
In addition, the net proceeds from the disposal of the companies operating in the Oil&Gas sector to the Indian group Meil they will be used to pay off debts.
The board of directors will also propose to the members two reverse splits of ordinary shares, to be carried out with the same exchange ratio (one new share for every 100 existing ones), but at different times: before and after the rights issue.
