Edition:
United Kingdom

Netweek: Prelim. 2018 Results To Be Affected By Non-Recurring Costs


Thursday, 18 Apr 2019 

April 18 (Reuters) - Netweek SpA ::POSTPONES APPROVAL OF 2018 RESULTS AND NEW INDUSTRIAL PLAN.SAYS PRELIM. 2018 RESULTS TO BE AFFECTED BY NON-RECURRING COSTS .NON-RECURRING COSTS RELATED TO CLOSURE OF ARRANGEMENT PROCEDURE AND RESTRUCTURING OF UNIT SGP SRL .NON-RECURRING COSTS RELATED ALSO TO ASSESSMENT OF VALIDITY OF EUR 1.7 MLN CLAIMS DERIVING FROM ASSESSMENT NOTICE SERVED BY INPGI ON MARCH 6 TO SOME PUBLISHING COMPANIES OF GROUP .BOARD SAYS THAT IF CLAIMS ARE BE CONFIRMED, CO'S NET ASSETS COULD BE REDUCED BELOW LIMITS REQUIRED BY LAW .BOARD ALSO EXAMINED NEW BUSINESS PLAN THAT IS EXPECTED TO BE FINALISED AND APPROVED BY END OF MAY.BOARD HAS GIVEN MANDATE TO CEO TO FINALISE SERIES OF FINANCIAL AND RECAPITALISATION TRANSACTIONS, INCLUDING C. EUR 2.5 MLN CAPITAL INCREASE AND C. EUR 2.5 MLN CONVERTIBLE BOND ISSUE.BOARD TO MEET ON MAY 29 TO EXAMINE AND APPROVE 2018 DRAFT FINANCIAL STATEMENTS. 

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