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  EDILIZIACROBATICA company press release from 28/06/2021

  28/06/2021 - 11:20


Genoa, 25 June 2021 –The Shareholders' Meeting of EdiliziAcrobatica S.p.A. ("Company" or "EDAC"), a construction company specializing in double-safety rope, listed on the AIM Italia market of Borsa Italiana (ticker EDAC) and on Euronext Growth (ticker ALEAC), which met today under the chairmanship of Riccardo Iovino, considering the existence of sufficient available reserves, resolved upon a further distribution of a dividend to its shareholders, to be construed as ordinary for stock-exchange purposes as it is to be applied to the result of the financial statements as at 31 December 2019, amounting to €457. 852.39, equal to €0.057 per ordinary Company share in circulation, gross of withholding taxes, from the "2019" retained earnings reserve, with an ex-date, in accordance with the 2021 AIM Italy calendar, of 5 July 2021, a record date of 6 July 2021, and a payment date of 7 July 2021.

"The Board of Directors - commented Riccardo Iovino, CEO & Founder of EdiliziAcrobatica S.p.A. - has deemed it expedient to submit the proposal to proceed with the nearly full distribution of the "2019" retained earnings reserve to the decision of the Shareholders, also with a view to consolidating the relationship of trust with them and taking into consideration the positive results arising from the financial statements for the financial year ended 31 December 2020 recently approved by the Shareholders' Meeting as well as from the first months of the current FY 2021."

Buy-back proposal

Upon proposal of the Board of Directors, the Shareholders' Meeting also approved a plan to buy back and sell own shares. The authorization to buy-back own shares is valid for a period of 18 months, starting from the resolution date, whereas the authorization to sell any purchased shares is requested with no time limits to allow the Board of Directors to avail itself of the utmost flexibility, including with regard to timing, to sell the shares.

The purpose of the buy-sell back authorization is to allow the Company to buy and sell ordinary shares, in compliance with current EU and national regulations and permitted market practices acknowledged by Consob and, in particular: (i) in the likelihood of supporting the liquidity of the shares themselves in compliance with the criteria established by the legislation, including regulations, as well as current practice, by carrying out, through brokers, any investment transactions including to limit abnormal price fluctuations, in order to normalize the trading and price trends, so as to encourage 

regular trading apart from normal fluctuations associated with market trends; (ii) in the efficient use of the Company's liquid assets with a view to medium- and long-term investments; (iii) in the use of the shares as part of transactions related to ordinary operations or projects consistent with the Company's strategic guidelines, in relation to which the opportunity to trade shares arises; (iv) in allowing purchases of shares from the beneficiaries of any stock-option plans and/or in the option of implementing stock- grant plans; (v) in being able to sell own shares, in line with the strategic lines that the Company intends to pursue, as consideration for any extraordinary transactions, such as, for example, but not limited to, acquisitions, mergers, spin-offs, etc., and/or for other uses deemed to be of financial/operational and/or strategic interest for the Company itself, including the trading of equity investments with other parties within the scope of transactions of interest to the Company.

The authorization is granted to purchase, on one or more occasions, ordinary own shares up to a maximum number that, taking into consideration EdiliziAcrobatica own shares held in portfolio from time to time by the Company or its subsidiaries, does not exceed a total of 10% of the share capital.

The Shareholders' Meeting also resolved that the own share buy-back transactions shall be carried out on the AIM Italia multilateral trading facility and that the purchase price shall neither be lower nor higher by more than 15% than the benchmark price recorded by the share during the last stock-exchange trading day before each individual transaction, in compliance with the terms and conditions laid down by applicable law, including EU law, and regulations and by the market practices in force at any given time.

It should be noted that the Company does not currently hold any own shares in portfolio.

This press release is available on the Company's website in the Investors section under the menu item Press Releases.


EdiliziAcrobatica SpA is the leading company in Italy in the construction sector operating with double-safety rope. Founded in Genoa in 1994 by Riccardo Iovino, the company now has over 1,200 employees and 100 operating areas in Italy, France, and Spain. The technique employed allows it to conduct operations without the use of scaffolding or aerial platforms, thus offering end customers quality services and reducing scaffolding costs. The rope access that EdiliziAcrobatica is specialized in is particularly well suited to ordinary and extraordinary maintenance of buildings and apartment complexes, hotels and historical monuments. In fact, the technique EdiliziAcrobatica developed ensures numerous benefits both in terms of accessibility for apartment complex residents and hotel guests and safety for tenants and access to monuments that always remain accessible to tourists even during restoration and maintenance works.

Listed on the AIM Italia stock exchange since November 2018 and the Euronext Growth market in Paris since February 2019, EdiliziAcrobatica closed 2020 – the year of the pandemic and the stoppage of construction sites – with €44.6 million in revenues, up about 14% compared to 2019. In 2020, the company also inaugurated a new business line dedicated to cleaning and disinfection and released “EAcondominio”, the first app in Italy for condominium administrators to facilitate the organization of remote tenant meetings.

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