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Mediaset changes its name and introduces dual-class shares

A new era begins for the queen company of private TV in Italy. The meeting of Mediaset shareholders approved the change of the company name to Mfemediaforeurope NV The meeting, chaired by Fedele Confalonieri, also approved the introduction of a dual category share structure with different voting rights. “We are very satisfied with this double step – he declares Pier Silvio Berlusconi in a note – the birth of Mfemediaforeurope NV in the Netherlands and the introduction of the dual category share structure. These actions and the excellent economic results achieved allow us to look to the future also with a view to international development “.

What changes with actions

The introduction of the new shareholding structure, reads a note, represents a fundamental step in pursuing the creation of a pan-European group in the entertainment industry e content as it will provide greater flexibility for financing any future M&A transactions. The share capital will be made up of ordinary A shares and ordinary B shares. Each share already in circulation will be converted into ordinary B share; all shareholders existing at a given reference date will be entitled to one ordinary share A for every ordinary share B held. Each A ordinary share will have a par value of 0.06 euros and each B ordinary share will have a par value of 0.60 euros (compared to the previous 0.52). Both the issue of the A ordinary shares and the adjustment of the par value of the B ordinary shares will be carried out using the distributable reserves of the Company. This means that each ordinary share A will give the right to one vote and each ordinary share B will give the right to 10 votes.

Both categories of shares, it is specified, will have the same property rights, for example on dividends and will be listed on the Milan stock exchange. Furthermore, all shareholders will have equal treatment in the event of any future voluntary or mandatory takeover bid. The implementation of the dual category share structure is subject to the admission to listing and trading on Euronext Milan of the A ordinary shares, as well as to obtaining the necessary approvals from the competent authorities. The changes will take effect before January 1, 2022.

Finally, the shareholders’ meeting approved the board’s authorization to issue up to 1,181,227,564 A ordinary shares within a period of eighteen months from the date of the general meeting. The authorization will be used to issue the initial ordinary shares A to those who will be shareholders at the reference date and to those persons who, at the same date, hold rights to purchase shares of the company based on existing stock option / grant plans.

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Zach Shipman

Zach is 47 years old and writes gaming technology and entertainment news for us. Every news of him is very true, so he is our writer. Suhail has 5 years of writing experience. Zach Email: zach@d1softballnews.com

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