FONDIARIA-SAI S.p.A and Milano Assicurazioni S.p.A. joint press release concerning the proposed settlement with the IMCO – Sinergia Group

Concerning today’s print media articles, the following is stated: The Board of Directors of Fondiaria-SAI S.p.A. (“Fondiaria-SAI”) approved the principal content of a proposed settlement of the sales contract concerning buildings to be constructed with the company Immobiliare Costruzioni - Im.Co. S.p.A. (“IMCO”) regarding the real estate complex in San Pancrazio Parmense (PR). The operation establishes for the immediate acquisition of ownership of the real estate complex as it currently stands, without any further payments to be made by Fondiaria-SAI. The settlement only concerns waivers by Fondiaria-SAI in relation to the future construction of property. Any further claims of any nature therefore remain open, including liability actions, which may be considered necessary or appropriate, possibly following examinations called for by the Board of Statutory Auditors based on the petition as per Article 2408 of the civil code presented by the shareholder Amber Capital Investment Management, as manager of the Amber Global Opportunities Master Fund Ltd (“Amber”). The proposed settlement is expressly subject to the approval, together with the agreements with the other principal creditors, of the restructuring of Imco under Article 182 bis of the Bankruptcy Law by the Court of Milan.

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