Padua, November 28, 2018 – SIT S.p.A. (“SIT” or the “Company”) announces the beginning of trading of SIT’s ordinary shares and warrants on the main market of the Italian Stock Exchange (Mercato Telematico Azionario) (“MTA”) organised and managed by Borsa Italiana.
SIT’s ordinary shares and warrants shall simultaneously cease trading today on the AIM Italia market.
They will maintain the ISIN codes (respectively IT0005262149 and IT0005262206) assigned on the AIM Italia listing.
Federico de Stefani, Chairman and Chief Executive Officer of SIT, commented: “The translisting from the AIM to the MTA is another major step in our expansion, which over recent years has seen revenues and earnings grow consistently, alongside our launch onto international markets. Our MTA listing will give us greater visibility and improve share liquidity as we access a larger capital market with a wider range of domestic and international investors. From our side, we will continue to invest energy and resources in pursuing our business objectives and in developing the value of the company”.
The company By-Laws, effective today as per the Shareholders’ Meeting motions of December 18, 2017 and April 26, 2018, have been made available to the public on the company’s website at www.sitgroup.it, in the Corporate Governance, Governance Documents section.
SIT H1 2018 revenues grew to Euro 175.4 million (+17.6% on H1 2017), with Adjusted EBITDA up 8.1% to Euro 23.4 million, with a net profit of Euro 8.4 million.
SIT was supported for the listing by UBI Banca S.p.A. as Sponsor, by Chiomenti as legal consultant, by Mazars Italia S.p.A. as tax consultant and by Reply S.p.A. as business consultant. EY S.p.A. assisted as independent audit firm on the statutory and consolidated financial statements for the years 2017, 2016 and 2015. Deloitte&Touche S.p.A. assisted as independent audit firm on the 2018 statutory and consolidated half-year financial statements. Gatti Pavesi Bianchi provided legal assistance to the Sponsor.
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SIT develops, produces and distributes components and systems for the control and safety of gas-based domestic heating and catering equipment. The Group operates in the Smart Gas Metering sector, producing new generation remote meters with real-time consumption readings and communication.
It comprises production companies located in Italy, Mexico, the Netherlands, Romania and China, with a commercial and distribution structure covering all global markets.
