(Alliance News) - Sicily by Car, an Italian company among the leading operators in the short-term leisure car rental sector founded in 1963, and Industrial Stars of Italy 4 Spa announced Tuesday that SbC has received an order from Borsa Italiana to admit its ordinary shares and warrants to trading on Euronext Growth Milan.

Trading is set to begin on Thursday, August 3, 2023.

In 2022, the group reported the following consolidated results: value of production at EUR160.9 million, Ebitda at EUR68.6 million with Ebitda margin of 43 percent, net income at EUR39.9 million.

On July 18, the board of directors approved a dividend policy that aims to distribute, each year, a dividend per share in absolute value at least in line with that which may have been distributed in the previous year, with a payout ratio of about 30 percent of consolidated net income.

Tommaso Dragotto, founder, chairman and CEO of Sicily by Car, commented, "On the 60th anniversary of its founding, the listing on the stock exchange marks the entry into a new corporate era where innovation and internationalization become the pivots of our development on which to invest with determination and constancy. Sicily by Car takes a momentous step and opens up to new horizons, strengthening its solidity thanks to new financial resources and an increasingly capillary and structured organization. We have chosen the stock market to allow a wide audience of Italian and foreign investors to support and share the ambitious goal of national and international expansion in a sector characterized by high growth potential. We have made a commitment to all those who have placed their trust in us and we want to keep it by pursuing a path oriented toward value creation, supported

by adopting a dividend policy, and to sustainability, an element that has distinguished us for years."

Giovanni Cavallini, Attilio Arietti, Davide Milano and Enrico Arietti, promoters of Indstars 4: "We are happy that our fourth Italian Spac, joined by a Spac in the Netherlands and one in the Czech Republic, has concluded its mission with the listing of Sicily by Car to accompany it in the national and international expansion project undertaken. Indstars 4 is characterized by profound innovations that make it more streamlined, efficient and investor friendly than the Italian Spacs of the past. We are proud that our innovations have been well received by our investors and Sicily by Car, and we hope that they will open a new course in the life of Italian Spacs."

Industrial Stars of Italy 4 closed Tuesday flat at EUR10.00 per share.

By Chiara Bruschi, Alliance News reporter

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