The Planetel general meeting authorises the board of directors to increase the share capital to up to 8 million euros

Planetel S.p.A., (the “Company” or “Planetel”), parent company of the group of the same name operating nationwide in the telecommunications sector, listed on the Euronext Growth Milan multilateral trading system organised and run by Borsa Italiana S.p.A., has announced that its extraordinary General Meeting today resolved to authorise the Board of Directors, pursuant to art. 2443 of the Italian Civil Code, to increase the share capital up to a maximum total amount of Euros 8,000,000 (eight million), including any premium, in one or more tranches, also in separate issues, through the issue of dematerialised ordinary shares without face value and with the same characteristics as those already in circulation and regular dividend rights, against payment, also with exclusion of the option right as per paras 4, 5 and/or 8 of art. 2441, and/or free of charge under one or more employee incentive schemes, in accordance with art. 2349 of the Civil Code (the “Mandate”).

The aim of the Mandate is to ensure the Board of Directors the necessary speed and flexibility in the execution of one or more share capital increases, enabling it to benefit, as they arise, from the best opportunities to bring strategic partners into the ownership structure or to undertake extraordinary operations and corporate acquisitions which require the necessary funding to be obtained rapidly and in the most flexible form, and to allow the creation of one or more employee incentive schemes.

Moreover, the Mandate, to be exercised within five years from today’s date and thus by 31 March 2027, also empowers the Board of Directors to decide, in compliance with the relevant regulatory framework, amongst other things, (a) the number and unit price of issue of shares (including any premium) and (b) the deadline for underwriting them. In addition, the General Meeting resolved to adapt the Articles of Association further to the renaming of the AIM Italia market as Euronext  Growth Milan, as per Borsa Italiana S.p.A. Notice no. 31776 published on 27 September 2021.