Milan, December 5, 2005 – The Italmobiliare Group and Miotir S.p.A. said that they had reached an agreement today for the sale of the Gemina shares held by the Group: 8,408,441 ordinary shares (2.31% of share capital) owned by Italmobiliare S.p.A. and 7,515,513 ordinary shares (2.06% of capital) owned by Italcementi S.p.A. All the shares are part of the Gemina S.p.A. voting trust.
In accordance with the terms of the Gemina S.p.A. voting trust, the Italmobiliare S.p.A. and Italcementi S.p.A. shares will first be offered to the current members of the voting trust proportionately to their respective holdings.
Under the agreement signed today, Miotir S.p.A. has undertaken to acquire any shares that the other members of the trust decide not to purchase, in addition to its own quota.
Italmobiliare S.p.A. and Miotir S.p.A. have also reached an agreement for the sale of 60,752 Gemina S.p.A. ordinary shares held by Italmobiliare S.p.A. that are not included in the voting trust.
The shares will be sold at 2 euro per share, for an overall total of approximately 32 million euro.