Regulatory News:
Vivendi, Fininvest and Mediaset agree to amend certain provisions of the agreements entered into on May 3, 2021 to take account of the proposed changes to Mediaset's share structure through the introduction of a dual share class
Vivendi (Paris:VIV), Fininvest and Mediaset announce that, today, they agreed to amend certain provisions of the agreements entered into on May 3, 2021 and July 22, 2021 in order to take account of the matters upon which Mediaset's shareholders' meeting will resolve on November 25, 2021, with particular reference to the introduction -- subject to approval by the shareholders' meeting -- of a dual-class share structure (ordinary shares A and ordinary shares B) through the conversion of each outstanding Mediaset share into an ordinary share B and the allotment of an ordinary share A for each ordinary share B.
As a result, with reference to Vivendi's undertaking to sell on the market the entire stake in Mediaset currently held through Simon Fiduciaria over a period of five years, it was agreed today that one-fifth of the ordinary shares A and the ordinary shares B will be sold each year (starting from July 22, 2021) at a minimum price of EUR1.375 in year 1, EUR1.40 in year 2, EUR1.45 in year 3, EUR1.5 in year 4, and EUR1.55 in year 5 (unless Vivendi authorizes the sale of these shares at a lower price); in any case, Vivendi will be entitled to sell the ordinary shares A and/or ordinary shares B held through Simon Fiduciaria at any...
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