Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
The Stock Option Plan subscription phase concludes for the Dada Group employees
High subscription rate for the second phase of the stock option plan reserved for Dada Group employees
Florence, February 7, 2007- The second period for the stock option plan subscription reserved for the Dada Group employees was closed on February 6, 2007. The plan was previously approved by the Board of Directors of DADA S.p.A. (MTAX of Borsa Italiana: DA.MI) on June 20, 2005, and duly communicated to the market on June 21, 2005. The first phase was also closed on February 6, 2007 for the employee stock option plan subscription which was approved by the Board of Directors of Dada S.p.A. on March 16, 2006 when it was also communicated to the market. Both plans were approved in accordance with the Shareholders' Meeting resolution of April 28, 2005.
The stock option plan, which provides for two further subscription periods from January 18 to February 6, respectively in 2008 and 2009, has the objective of providing incentives for and ensuring the loyalty of employees of the Group, through encouraging participation in the ownership of the Company.
The number of options exercised by the Group’s employees amounted to 129,021 compared to a total of 148,900 options available in the period, representing an 86% subscription rate, resulting in the issue of 129,021 new ordinary shares of Dada S.p.A.
The subscription price of each share - fixed in the Board meeting of June 20, 2005 based on the criteria and in execution of the Shareholders' Meeting resolution of April 28, 2005 - was Euro 10.82, whilst the subscription price of each share agreed in the Baord meeting of March 16, 2006 was equal to Euro 16.92.
The total income for the Company deriving from the share capital increase therefore amounted to Euro 1,396,415.92.
As a consequence of the take up of the plan, the subscribed and paid-in share capital of Dada S.p.A. amounted to Euro 2,736,503.43, represented by 16,097,079 ordinary shares of Dada S.p.A., of a nominal value of Euro 0.17 each.
