• Successful start to the restructuring process of Centrale del Latte d’Italia with the resolution of the Merger by incorporation of its subsidiaries into the parent company.
  • The new company structure will generate strong synergies and a considerable reduction in costs which will reflect in better EBITDA margins.
  • Submission of the list of BoD candidates to be appointed at the Shareholders’ Meeting scheduled for April 29th 2020.

Turin, 10 April 2020 – the Company announces that the Board of Directors of Centrale del Latte d’Italia (“CLI” or the “Company”) – a company listed since 2001 on the STAR segment of Borsa Italiana and today the third Italian player in the fresh and UHT milk market, with leadership positions in Piedmont, Liguria, Tuscany and Veneto – which met on April 9th 2020, resolved on item described below.

The Board of Directors approved the merger by incorporation pursuant to art. 2501-ter of the Civil Code of Centrale Del Latte della Toscana S.p.A. and Centrale del Latte Di Vicenza S.p.A. into Centrale del Latte d’Italia S.p.A.

The completion of the merger is expected within the end of the next quarter and, in addition to simplifying the Group’s structure, it will generate several benefits and a reduction in costs estimated at over € 3 million per year.
These resources will contribute to improving the Group’s profitability as well as positively affecting the implementation of the business plan.
The Company also informs that the preliminary sales figures reported in the first quarter of 2020 show a significant improvement in revenues and margins.

LIST OF NEW BoD CANDIDATES TO BE PRESENTED AT THE SHAREHOLDERS’ MEETING SCHEDULED FOR APRIL 29th 2020

Newlat Food S.p.A submitted its own list of candidates to be presented for the appointment of the Board of Directors. The list includes two independent directors proposed by minority shareholders. The list is the following:

  1. Angelo Mastrolia, born in Campagna (SA), on December 5th 1964, T.C. MSTNGL64T05B492D, male;
  2. Giuseppe Mastrolia, born in Battipaglia (SA), on February 11th 1989, T.C. MSTGPP89B1 1A717I, male;
  3. Benedetta Mastrolia, born in Rome, on October 18th 1995, T.C. MSTBDT95R58H501Z, female;
  4. Stefano Cometto, born in Monza, on September 25th 1972, T.C. CMTSFN72P25F704N, male;
  5. Edoardo Pozzoli, born in Turin, on July 13th 1982, T.C. PZZDRD82L13L219G, male;
  6. Antonella Mansi, born in Siena, on April 28th 1974, T.C. MNSNNL74D681726A, female, candidate who declares to possess the independence requirements provided for by art. 148, paragraph 3, Legislative Decree 24 February 1998, n. 58 and those provided by art. 3 of the Corporate Governance Code issued by the Corporate Governance Committee of Borsa Italiana S.p.A.
  7. Valeria Bruni Giordani, born in Florence, on July 22nd 1974, F.C. BRNVLR74L62D612J, female, candidate who declares to possess the independence requirements provided for by art. 148, paragraph 3, Legislative Decree 24 February 1998, n. 58 and those provided by art. 3 of the Corporate Governance Code issued by the Corporate Governance Committee of Borsa Italiana S.p.A.

With 4 factories and some 415 employees, Centrale del Latte d’Italia Group produces and sells more than 120 products, ranging from milk and milk products to yogurt and drinks of plant origin, distributed in over 16,000 traditional shops and large retail chains in the pertinent areas under the brand names TappoRosso, Mukki, Tigullio and Vicenza.

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This press release is available on the Company’s website at https://centralelatteitalia.com/ and on the authorized storage mechanism eMarketstorage at the following address www.emarketstorage.com.

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FOR FURTHER INFORMATION:

Roberto Stasio
Barabino & Partners
Tel +39 010/2725048
Cell +39 3355332483
Email r.stasio@barabino.it

Alice Brambilla
Barabino & Partners
Phone +39 02 72023535
Cell +39 3282668196
Email a.brambilla@barabino.it

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