March 5, 2018 / 9:46 AM / 7 months ago

BRIEF-Top Fullsix Shareholder To Swap Its Stake With Shares In Start-up Myav

March 5(Reuters) - FULLSIX SPA:

* SAID ON FRIDAY THAT ORIZZONTI HOLDING (OH), CENTRO STUDI, BLUGROUP AND MARCO BENATTI HAD SIGNED PRELIMINARY BINDING AGREEMENT FOR THE TRANSFER OF A STAKE IN FULLSIX

* TOP FULLSIX SHAREHOLDER BLUGROUP WILL EXCHANGE ITS 45.3 PCT STAKE FOR A STAKE IN START-UP MYAV, IN WHICH OH AND CENTRO STUDI HAVE STAKES

* OH CURRENTLY HAS A CONTROLLING STAKE IN MYAV

* IT IS IN PLAN TO LIST MYAV ON AIM IN 18-24 MONTHS SINCE THE FINALIZATION OF THE STAKE EXCHANGE

* THE AGREEMENT FORESEES “SIGNIFICANT” SYNERGIES BETWEEN FULLSIX AND THE ORIZZONTI HOLDING GROUP

* THE EXCHANGE RATIO BETWEEN FULLSIX AND MYAV IS LINKED TO RESULTS OF DUE DILIGENCE

* AT THE CLOSING OF THE EXCHANGE, AN EXCHANGE OFFER WILL BE LAUNCHED AT THE SAME CONDITIONS FOR BLUGROUP

* THE OPERATION IS NOT AIMED AT DELISTING FULLSIX

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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