Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
Focus on Dada core business continues: investment in Planet Com sold
In accordance with the strategy of focus on the higher added value core businesses, Dada has completed the sale of the investment in Planet Com S.p.A.
Milan, July 4, 2006 - In further implementing the Group restructuring plan, Dada S.p.A (MTAX Italian Stock Exchange: DA.MI) today completed the sale of its entire holding in Planet Com S.p.A., equal to 50% of the share capital.
Dada’s strategy is to focus on its wholly owned subsidiaries and its core businesses, i.e. scalable services related to the community and entertainment world accessible via web and mobile. In the first quarter of 2006 these services represented 74% of consolidated turnover and report revenues in constant growth.
Dada sold its entire holding in Planet Com S.p.A., specialised in online court auctions, to Asteimmobili.it S.p.A. for a cash payment of Euro 2.5 million, of which Euro 2 million payable as of today and the remainder payable on September 30, 2006.
The investment in Planet Com was recorded in the financial statements of Dada at December 31, 2005 at a book value of Euro 279 thousand; the sale will therefore generate a gain of Euro 2,221 thousand.
In 2005, Planet Com recorded sales of Euro 5,675 thousand, an Ebitda of Euro 412 thousand and an Ebit of Euro 180 thousand. At December 31, 2005, the net equity of the company was Euro 558 thousand and the short-term NFP was a cash position of Euro 662 thousand.
