Intesa Sanpaolo's residual tender offer for Ubi Banca shares is proceeding at full speed: at the end of the period for the presentation of sale requests by the holders of the remaining shares, the bank led by Carlo Messina presented the provisional results of the operation . It came out that now Intesa has reached 98,8988% of the capital of Ubi Banca.
“With reference to these n. 90.691.212 residual shares – explains the press release -:
(i) for 87.853.607 Residual Shares, the relevant holders have requested the Fee (i.e., for each UBI Banca share subject to the Request for Sale, the Consideration in Shares, i.e. 1,7000 newly issued ordinary shares of Intesa Sanpaolo in execution of the capital increase to service the Offer and the Consideration in Money, i.e. Euro 0,57);
(ii) for the remaining 2.837.605 Residual Shares, the relevant holders have requested the Full Consideration in Cash, i.e. Euro 3,539 which, pursuant to art. 50-ter, paragraph 1, letter a), of the Issuers' Regulation, corresponds to the sum (x) of the weighted average of the official prices of Intesa Sanpaolo shares recorded on the Mercato Telematico Azionario in the five trading days preceding the Payment Date of the Consideration of the 'Offer (i.e. on 29, 30 and 31 July, 3 and 4 August 2020), which is equal to Euro 1,74638, multiplied by the Exchange Ratio, i.e., therefore, Euro 2,969 (rounded to the third decimal place ) and (y) Euro 0,57 (ie, the Cash Consideration)".
