SEIF ANNOUNCES THE ESTABLISHMENT OF LOFT PRODUZIONI S.R.L.
- the spin-off of the television production division was completed with the establishment of Loft Produzioni S.r.l.;
- the new company, wholly controlled by SEIF, will be able to seize new market opportunities related to the further development of the “video” product.
Rome, 21th December 2022 - SEIF S.p.A. (the “Company” or “SEIF”), media content provider and publisher of several editorial and multimedia products, whose shares are traded on Euronext Growth Milan, multilateral system organised and managed by Borsa Italiana S.p.A. and Euronext Growth Paris, following the press release of 28th November on the approval of the Company's 2023-2025 Business Plan, announces that today was stipulated the transfer of the “Loft Produzioni” business unit, which deals with television production (“Business Unit”), in favour of Loft Produzioni S.r.l. (“LOFT”), a company wholly owned by SEIF and established on 14th December 2022.
The decision to set up LOFT stems from the desire to have greater autonomy and flexibility within the television production market and to be able to take advantage of new opportunities related to the further development of the “video” product. With this operation, LOFT will be able to seize opportunities for industrial partnerships as well as to expand its collaborations with broadcasters and industry players. Luigi Calicchia, Chief Financial Officer of SEIF, will hold the position of Sole Director of LOFT; David Pierluigi will be Chief Operating Officer of LOFT.
The value of the Business Unit, certified by the expert with a sworn appraisal report, was determined on the basis of the book values as at 30th September 2022 in EUR 12,600,000.00. SEIF subscribed the capital increase of the newly-formed company LOFT through the contribution of the Business Unit, with the issue in its own favour of a shareholding with a nominal value of EUR 100,000.00 and a share premium of EUR 12,500,000.00, amounting in total to EUR 12,600,000.00.
The transferred Business Unit consists of 14 employees and recorded revenues of EUR 1,374,571 as of 30th June 2022. The transfer of the Business Unit will be effective from the 30th December 2022.
SOCIETA? EDITORIALE IL FATTO S.P.A. (SEIF) is an independent media company, founded in Rome in 2009 and led by Cinzia Monteverdi, President and CEO. The company is the publisher of several editorial and multimedia products, including Il Fatto Quotidiano, a newspaper founded by Antonio Padellaro and directed by Marco Travaglio, the news website ilfattoquotidiano.it and the monthly magazine FQ Millennium, directed by Peter Gomez, and the publishing house Paper First, directed by Marco Lillo. Recently SEIF has undertaken a process of diversification in order to become more and more a 360 degrees media content provider, starting both a strategy of development of its products in digital and data driven key and a TV production with the business unit LOFT.
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