THEPremafin assembly approved with the yes of the shareholders representing "over 50%" of the capital the recapitalization for 400 million euro reserved for Unipol. This is the outcome of the vote communicated by notary Piergaetano Marchetti at the end of a dramatic day for the Ligresti family which, however, has not yet lowered the white flag. But for the banks, the game is over: Premafin's debt restructuring plan "is approved automatically", after the assembly gave the go-ahead by a majority to thecapital increase of up to €400m reserved for Unipol. This is the first reaction of the front of Premafin's creditor banks, at the outcome of the assembly of the financial company to which it belongs Fondiaria Sai.
It was, however, a day full of suspense. Only shortly before 18 pm Paolo Ligresti materialized in the meeting room, whose actions were decisive for reaching the quorum necessary to vote on the capital increase of up to 400 million reserved for Unipol. Up to that moment, in fact, just over 46% of the capital, or 20% owned by Sinergia, the company on which a bankruptcy petition by the Milan prosecutor was pending, had been deposited. entrusted to a board of liquidators made up of Claudio Calabi and Salvatore Spiniello, plus the shares, each equal to 10%, owned by Jonella and Giulia Ligresti. Shortly before, the meeting had experienced its most charged moment from an emotional point of view: Giulia Ligresti, as chairman of Premafin, had had to read the note in which Unipol stated that it "intends to comply with the provisions of Consob" specifying that in matter of indemnity "the commitment may be limited - and in any case UGF will limit it - in its scope only to directors and statutory auditors" who are not Premafin shareholders, in accordance with Consob's requests.
"I take note of the UGF press release". It was the comment of president of Premafin Giulia Ligresti. “I am not able to define its scope today – she added. It will be evaluated by our lawyers”. After saying these words, Giulia Ligresti answered a cell phone call. “Excuse me, this is a slightly more eventful assembly than the previous ones – she therefore justified herself-. The moment is a little delicate and the subject is also delicate”. The president Giulia therefore temporarily left the reading of the documentation in the meeting to the general manager Andrea Novarese, to go out to quickly discuss with her sister Jonella. The faces of the two sisters were close to tears.
Then came the turning point. The three Ligresti voted in favor of the capital increase, thus avoiding the abyss of Premafin's bankruptcy. But both the representative of Paolo Ligresti and that of Jonella Ligresti, in announcing the vote in favor of the Premafin capital increase, invited the Board of Directors to evaluate any improvement proposals. "As chairman of Premafin, I undertake to quickly submit to the Board of Directors the invitations submitted to me by the two shareholders - replied Giulia Ligresti - and this as the operation with Unipol is still under conditions precedent".
”Look at what was done in the meeting – commented Paolo Ligresti at the end -. Now we will have to see how the Board of Directors will evaluate the letter from Unipol Gruppo Finanziario. If the Board deems it valid, it will go ahead. Then Consob will also have to express its opinion, now the word goes to Consob”. Paolo Ligresti linked himself to the opinion of Professor De Nova, read in the meeting by Giulia Ligresti, who considers the revocation of the legal indemnity agreements that the Unipol lawyers had sent to the holding company a little earlier. “The side letter states that the indemnity is irrevocable,” explained the lawyer. An appeal to the TAR against the Consob decision is looming, an initiative which will in any case lengthen the times of the operation.
