Yesterday RCS has already taken off again (+17,47%), after a few sessions of pause from the unprecedented rally that began in mid-August (+200% in one month). Is there a climb in progress on via Solferino? “With 11%? It's difficult – replied the chairman Angelo Provasoli when asked about the performance of the stock on the Stock Exchange – Everything in the world is possible, but it seems to me concretely improbable. I would be serene, very serene. We work for the company, for the success of Rizzoli“. And he adds: what happens to the title "I don't know either".
Provasoli intervened at the end of yesterday's board of directors which lasted less than two hours which resolved on the stock option plan. As expected (lo had anticipated the former President Piergaetano Marchetti two days ago), it was a technical board. The company, a statement said, authorized the issuance of approximately 7,3 million ordinary shares intended for the possible exercise of the stock options envisaged in the plan originally approved in 2005 (the options that still exist were assigned to group employees in 2006 and, according to the plan, are exercisable by June 2013).
No statement came from CEO Pietro Scott Jovane or other members of the board. But there is plenty of irons in the fire and now the wait is like this for the next appointments on the agenda: the convening of the syndicate pact, whose members are pre-alerted for 21 September, and the meeting of 16 October (October 23 on second call). The assembly è necessary to decide how to proceed after the end-July account losses exceeded the legal minimum. Of the industrial plan, which will have to decide what to do with the debts, "we'll talk about it after the meeting", answered Provasoli in this regard. "In October we have the technical term of article 2446 of the Civil Code," he recalled.
Meanwhile who is buying? Dominating the market are above all the day trader against a very limited free float. But for some he would also be buying Diego Della Valle, owner of Tod's, which a few months ago left the syndicate pact and declared its intention to increase the share capital (today it is at 5,49%). Today the financier Alessandro Proto has denied maneuvers on the title and confirmed its intention to file a complaint against Consob.
Thus explains Proto in a note: “The fluctuation of the Rcs share is certainly not due to us, we will never try to buy large shares of Rcs at this time, Consob would prevent it from the outset with requests for intimidating information and veiled threats, so it's better to let it go, if the stock were to go up today it would certainly not be because of us. We bought 1,7% of Espresso which seems to me to control one of the most important newspapers in Italy and nobody said anything to us, with Rcs we increase by 0,2 and we are contacted, summoned and threatened, in case of defaults, of penal measures, when below the 2% threshold there is no obligation to notify the supervisory body. However, it does not seem to me that there is a ban on communicating it to the market. So we will try to shed light on what is happening and why Consob is so diligent every time RCS is mentioned, while for other companies that it should have controlled better it has done nothing with major financial instability and the loss of savings for thousands of small savers ”.
Yesterday RCS has already taken off again (+17,47%), after a few sessions of break from the unprecedented rally that began in mid-August (+200% in one month). Is there a climb in progress on via Solferino? “With 11%? It's difficult – replied the chairman Angelo Provasoli when asked about the performance of the stock on the Stock Exchange – Everything in the world is possible, but it seems to me concretely improbable. I would be serene, very serene. We work for the company, for the success of Rizzoli”. And he adds: what happens to the title "I don't know either". Provasoli intervened at the end of yesterday's board of directors which lasted less than two hours that he resolved on the stock option plan. As expected (former President Piergaetano Marchetti anticipated it two days ago), it was a technical board. The company, explained a note, has authorized the issue of approximately 7,3 million ordinary shares intended for the possible exercise of the stock options envisaged in the plan originally approved in 2005 (the options still existing were assigned to group employees in 2006 and according to the plan they are exercisable by June 2013). No statement came from CEO Pietro Scott Jovane or other members of the board. But there is plenty of irons in the fire and now the wait is like this the next appointments on the agenda: the convening of the syndicate pact, whose shareholders are pre-alerted for 21 September, and the shareholders' meeting on 16 October (23 October on second call). The Strasbourg assembly it is needed to decide how to proceed after the end-July account losses have exceeded the legal minimum. Of the industrial plan, which will have to decide what to do with debts, “We'll talk about it after the meeting”, answered Provasoli in this regard. "In October we have the technical term of article 2446 of the Civil Code," he recalled.
Meanwhile who is buying? The market is mainly dominated by day traders with a very limited free float. But for some he would also be buying Diego Della Valle, owner of Tod's, which a few months ago left the syndicate pact and declared its intention to increase the share capital (today it is at 5,49%). Today the financier Alessandro Proto denied maneuvers on the title and confirmed the will to file a complaint against Consob. So Proto explains in a note: "The fluctuation of the RCS share is certainly not due to us, we will never try to buy important shares of RCS at this time, Consob would prevent it from the start with a request for intimidating information and veiled threats, so better let it go, if the stock were to go up today it certainly wouldn't be because of us. We bought 1,7% of Espresso which seems to me to control one of the most important newspapers in Italy and nobody said anything to us, with Rcs we increase by 0,2 and we are contacted, summoned and threatened, in case of defaults, of penal measures, when below the 2% threshold there is no obligation to notify the supervisory body. However, it does not seem to me that there is a ban on communicating it to the market. So we will try to shed light on what is happening and why Consob is so diligent every time we talk about RCS, while for other companies that it should have controlled better it did nothing with major financial instability and the loss of savings for thousands of small savers ”.
