Amplifon S.p.A. (MTA; Bloomberg ticker: AMP:IM, “Amplifon”), global leader in hearing solutions and services, announces that the Board of Directors, during a meeting held today, approved and kicked-off a project to redefine the group’s corporate structure mainly aimed at separating the operating activities in Italy from the direction and management activities of the group carried out by the listed parent company.
More in detail, the main objective of the project is to redefine the corporate structure of the Amplifon group in line with the evolution of the group’s organizational structure and multinational nature. In such context, the listed parent company will be responsible for the definition and development of the strategic direction as well as for the management and strategic coordination activities for the entire group, while the operating activities related to the country Italy will be managed by a dedicated company.
It is envisaged that the project will be implemented through the contribution in kind of the business branch related to the operating activities of the country Italy as consideration for the capital increase reserved to Amplifon, which will be resolved upon by a company fully owned by the listed parent entity.
It is also currently under evaluation the contribution in kind of the business branch related to the support, operative coordination and service activities currently carried out by Amplifon in favor of the group. Such transaction would be implemented in the same way as envisaged for the business branch related to the country Italy.
The final approval of the project for the redefinition of the corporate structure by Amplifon’s Board of Directors is currently scheduled for the month of March 2021 and all the transactions related to the project are expected to be implemented and effective by the first half of 2021.