GTECH S.p.A. announced that, as to complete its previously announced reorganization of the company’s Italian operations started on December 17, 2014, it had contributed in-kind its ongoing business concern related to the Lotto concession to its wholly owned subsidiary Lottomatica S.p.A., effective April 1, 2015, by way of subscription of a capital increase of the latter amounting to €378 million, based on an appraisal by an independent expert which refers to the net book value according to IAS principles, which has been approved by the required trade union consultations.
Thereafter, effective on April 3, 2015, GTECH S.p.A. had contributed in-kind its wholly owned subsidiary Lottomatica S.p.A., to its wholly owned subsidiary Lottomatica Holding S.r.l.by way of subscription of a capital increase of the latter amounting to €811 million, based on an appraisal by an independent expert which refers to the equity value according to ITA GAAP principles.
The in-kind contributions described above, which were previously authorized by the Agenzia delle Dogane e dei Monopoli, are exempted from the application of CONSOB regulation no. 17221 of March 12, 2010, governing related-party transactions since no significant interests of other related-parties exist.