Press release: Innovative-RFK s.p.a.: the Board of Directors approves the draft of financial statements at December 31, 2021

Press release: Innovative-RFK s.p.a.: the Board of Directors approves the draft of financial statements at December 31, 2021

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30 Mar 2022 16:50 CEST

Company Name

INNOVATIVE RFK SPA

ISN

IT0005391161

Market

Euronext Access

Symbol

MLIRF

MLIRF

PRESS RELEASE Innovative-RFK s.p.a.: the Board of Directors approves the draft of financial statements at 31 December 2021 Milan, March 30 2022 - The Board of Directors of innovative - RFK S.p.A. of 28 March 2022 approved the draft of financial statements for the year ended 31.12.2021 including the Balance Sheet, the Income Statement and the Notes to the Financial Statements and accompanied by the Report on the Management, and resolved on the call of the Shareholders' Meeting giving a broad mandate to the Chairman of the Board of Directors and the Chief Executive Officer, separately, to publish in the terms of the law the convocation of the Shareholders' Meeting ordinary and extraordinary in first convocation on 29 April 2022 and in second convocation on 31 May 2022 or other subsequent dates taking into account any measures issued by the public authorities in Italy due to Covid - 19 emergency. In the financial year 2021, the company at the aggregate level with its subsidiaries, closes the year with a turnover of about € 55 million and a margin in significant progress. The invested capital by the company, at the end of the 2021 financial year, amounted to € 10.32 million, invested in 11 investee companies, with a market valuation of about € 18.0 million and a share price of € 1.89 (+18.12% yoy) At 29 March 2022, the value per share was €2.06. The year closed with revenues for services equal to Euro 60,064.54, while income from equity investments amounted to Euro 116,721.00 in addition to financial income of € 20,402.00. The operating result just closed sees a negative result of € -343,353. The previous year had a negative result of € -274,885. The main component that has affected the result derives from the limits to the distribution of dividends by the investee companies during the year 2021 on the financial statements of the year 2020, due to, also, COVID regulations that have often placed limits on the distribution of dividends for those companies that have subscribed funding with the guarantee of Medio Credito Centrale. Regarding new investment transactions, the Company invested in the following companies during Year 2021: • Sixth Sense S.r.l.: a company that develops software and algorithms for the optimization of processes and the prediction of emerging market trends, supporting decision makers in answering key questions. It has been acquired a stake equal to 5% in June 2021, for a counter value of € 750,000.00, is a spin-off of the University Scuola Sant'Anna of Pisa. The team leverages cutting-edge data analysis skills ranging from the field of AI to the design of hardware and software systems for Big Data solutions, deep machine learning, algorithms, and predictive technologies. • Red Raion S.r.l.: is an innovative SME active worldwide in the field of entertainment, it is specialized in the production of animated films in CGI (Computer Generated Imagery) for digital attractions in amusement parks, such as 5D experiential cinema, Dome, Virtual reality and Flying Theater. The stake holded by Innovative-RFK in the share capital of Red Raion is equal to 20%, for a counter value equal to € 700,000.00. • Microcredito di Impresa S.p.a.: increase of the investment in Microcredito di Impresa, Innovative-RFK participated to the capital increase of Year 2021 of MDI with an additional investment of € 107,000.00 as a result of which Innovative-RFK holds the 26.38% of the capital of MDI. The Company is continuing its scouting activities on several potential investee companies, which should materialise in the coming months.

The Board resolved to convene the Ordinary and Extraordinary Shareholders' Meeting, in first call on 29 April 2022 and in second call on 31 May 2022 giving a broad mandate to the Chairman of the Board of Directors and the Chief Executive Officer, to severally define the agenda.

The Shareholders' Meeting shall be called to decide: in the ordinary part on the approval of the financial statements at 31 December 2021, including the Report on the management of the Administrative Board, the Report of the Board of Statutory Auditors and the Report of the Independent Auditors, and on the appointment of the members of the new Board of Directors, determination of their number, duration of office and determination of their remuneration; related and consequent resolutions; the appointment of the new Board of Directors; on the proposal of approval of the stock option plan I-RFK 2022 - 2024; Delegation of powers to the board of directors; on the authorisation to purchase of own shares and the completion of acts of disposition of own shares at the service of remuneration and incentive plans and at the service of purposes different from those of the previous point and consequent delegation of powers to the board of directors; and in the extraordinary part on the modification of art. 6 of the Articles of Association of the Company in order to confer to the Board of Directors, pursuant to Article 2443 of the Italian Civil Code, for a period of five years from the date of the resolution, the power to increase, in one or more times and separately, the share capital of the Company with exclusion of the option right pursuant to art. 2441, paragraphs 4, second period, 5 and 8, of the Italian Civil Code at the service of the Stock Option Plan I-RFK 2022 - 2024 or other remuneration and incentive plans; and on the relative delegation of powers to the board of directors.

The Reports shall be made available on the website www.innovative-rfk.it according to the Laws.

For further information: [e-mail]

comunicato-approvazione-bilancio-2021.docx

Source

INNOVATIVE RFK SPA

Provider

Euronext