(Alliance News) - Valsoia Spa on Monday announced that the company's current CEO, Andrea Panzani, and the company's majority shareholder, Finsalute Srl - a company controlled by chairman Lorenzo Sassoli de Bianchi - have agreed to a purchase option at par value, in several tranches, in favor of the ad, for a package of Valsoia shares equal to 1.0 percent of the company's share capital, currently held by the majority shareholder.

A condition for the vesting of this purchase option is Panzani's retention of his position as ad until the approval of Valsoia's financial statements as of Dec. 31, 2028.

"The continuity agreement is related to a development plan for Valsoia to be pursued through an accelerated internationalization process, including through acquisitions, together with a strengthened focus on innovation in particular of the Valsoia Bontà & Salute brand," the company explained in a note.

The right to exercise the option will be realized within certain time windows in 6 different tranches, starting from the year 2023 up to and including the year 2028, for a maximum total of 107,000 ordinary shares of Valsoia.

Finsalute, with a 60.664 percent stake, is currently Valsoia's majority shareholder.

Valsoia on Monday closed in the green by 0.9 percent at EUR9.00 per share.

By Claudia Cavaliere, Alliance News reporter

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