Key Developments: Societa Iniziative Autostradali e Servizi SpA (SIS.MI)

SIS.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Societa Iniziative Autostradali e Servizi SpA proposes FY 2013 dividend
Thursday, 6 Mar 2014 06:59am EST 

Societa Iniziative Autostradali e Servizi SpA:Proposes for fiscal year 2013 a final dividend of 0.24 euros per share, amounting to a total dividend for fiscal year 2013 of 0.30 euros per share, for a total of 68 mln euros.Payment date on May 2, ex-dividend on April 28, against detachment of the coupon number 25.  Full Article

Societa Iniziative Autostradali e Servizi SpA places senior secured bond issue for 500 mln euros
Thursday, 6 Feb 2014 11:41am EST 

Societa Iniziative Autostradali e Servizi SpA:Says it placed a senior secured bond issue for a total amount of 500 million euros, 10-year maturity (demand equal to roughly 8x the requested amount).Says the bonds, with a minimum denomination of 100 thousands euros and maturity on Feb. 13, 2024, pay an annual gross coupon of 3.375 pct and were placed - to about 260 institutional investors - at an issue price of 99.466 pct.Says the settlement date is scheduled for Feb. 13.Says as from Feb. 13, the bonds - which will be governed by English law - will be negotiated on the Irish Stock Exchange.Says the proceeds from the above-mentioned issue will be used by SIAS to grant intercompany loans to some motorways subsidiaries that will finance the 1.6 billion euros investment programme in the Italian motorway sector.Says will also be used to prepay some banking loans thus leading to a reduction in the average cost and an increase in the average maturity of its debt.  Full Article

Moody's confirms Societa Iniziative Autostradali e Servizi SpA's rating
Thursday, 30 Jan 2014 01:38pm EST 

Societa Iniziative Autostradali e Servizi SpA:Says on Jan. 29 the rating agency Moody's confirmed the rating Baa2 with negative outlook on SIAS' long-term senior secured debt.  Full Article

Societa Iniziative Autostradali e Servizi SpA updates on Chief Executive Officer
Monday, 20 Jan 2014 07:35am EST 

Societa Iniziative Autostradali e Servizi SpA:Says, in order to align its organizational model with the other companies in the group, it keeps Paolo Pierantoni as the single Chief Executive Officer of the company.Says Alberto Sacchi's position as Chief Executive Officer has been revoked and he has been assigned with coordination in the administration areas of the company, and in corporate and financial affairs.  Full Article

Societa Iniziative Autostradali e Servizi SpA Approves FY 2013 Interim Dividend
Wednesday, 23 Oct 2013 12:45pm EDT 

Societa Iniziative Autostradali e Servizi SpA announced that the Board of Directors approved the proposal for a distribution of an interim dividend related to the fiscal year 2013, equal to EUR 0.06 per share for each of the 227,501,793 shares outstanding, for a total amount of EUR 13.7 million. The interim dividend can be paid from November 7, 2013, with ex-dividend starting from November 4, 2013, against detachment of the coupon number 24.  Full Article

Societa Iniziative Autostradali e Servizi SpA Appoints Chairman of the Board of Directors
Thursday, 1 Aug 2013 06:32am EDT 

Societa Iniziative Autostradali e Servizi SpA announced that the Board of Directors appointed Stefania Bariatti as Chairman of the Company (following the resignation of Bruno Binasco).  Full Article

Societa Iniziative Autostradali e Servizi SpA Announces Resignation of Chairman of the Board of Directors
Monday, 29 Jul 2013 11:59am EDT 

Societa Iniziative Autostradali e Servizi SpA announced that on July 29, 2013 Mr. Bruno Binasco announced his resignation as Chairman of the Board of Directors of the Company. The resignation becomes effective from August 1, 2013.  Full Article

Societa Iniziative Autostradali e Servizi SpA Approves Merger by Incorporation of Wholly-Owned Subsidiary Holding Piemonte e Valle d'Aosta SpA
Monday, 1 Jul 2013 09:23am EDT 

Societa Iniziative Autostradali e Servizi SpA announced that the Board of Directors has approved the merger by incorporation of the wholly-owned subsidiary Holding Piemonte e Valle d'Aosta SpA into the Company. The transaction is estimated to be concluded by September 2013.  Full Article

Societa Iniziative Autostradali e Servizi SpA Deliberates on Merger by Incorporation of Wholly-Owned Subsidiary Holding Piemonte e Valle d'Aosta SpA
Monday, 15 Apr 2013 12:15pm EDT 

Societa Iniziative Autostradali e Servizi SpA announced that the Board of Directors has deliberated to start activities towards the implementation of the merger by incorporation of the wholly-owned subsidiary Holding Piemonte e Valle d'Aosta SpA into the Company. The Company notified that the holders of the bond denominated, SIAS 2,625% 2005-2017 convertibile in azioni ordinarie, have the right to exercise their conversion rights from April 16, 2013 until May 15, 2013.  Full Article

Societa Iniziative Autostradali e Servizi SpA Approved FY 2012 Dividend Distribution
Thursday, 11 Apr 2013 11:57am EDT 

Societa Iniziative Autostradali e Servizi SpA announced that the Ordinary Annual Meeting approved the distribution for fiscal year 2012 of a unitary final gross dividend of EUR 0.90 per share, to be paid starting from April 18, 2013 against detachment of coupon number 23 (the shares will trade ex-dividend from April 15, 2013). The total dividend relating to the fiscal year 2012, including the distribution of an interim dividend of EUR 0.30 per share made in August 2012, is equal to EUR 1.20 per share for a total amount of EUR 273 million. The dividend includes an extraordinary component related to the capital gain resulting from the disposal of Autostrade Sud America Srl.  Full Article

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