PRESS RELEASE PREMUDA
CAPITAL INCREASE FROM € 55,887,480 TO € 67,064,976
Following the resolution passed in the extraordinary Shareholders meeting held on May 25, 2004 duly deposited and registered in Trieste on May 27, 2004 the Chairman established to start the capital increase from € 55,887,480 to € 67,064,976.
The proposed increase of € 11,177,496 will take please through issuance of 22,354,992 new ordinary shares with € 0,50 nominal value each, offered in option to shareholders at € 0,50 per share in proportion of one new share every five owned.
The new shares will have enjoyment right January 1, 2004.
Options must be exercised as from June 28, 2004 to July 16, 2004 included, otherwise void, care of all authorised mediators operating through the Monte Titoli Spa central administration system.
The ultimate trading day for the options will be July 9, 2004.
Pre-emption rights non exercised within July 16, 2004 shall be offered on the Stock Exchange by the Company, according to article 2441 civil code, 3rd paragraph for five trading days.
The pre-emption right is represented by coupon n. 1 of ordinary shares and coupon n. 1 of saving shares.
The three main shareholders Navigazione Italiana Spa, Assicurazioni Generali Spa and Duferco Italia Holding Spa have committed themselves to ensure the execution of their portion of the Premuda capital increase for a value of € 5,778,627.
Banca Generali shall grant the subscription of the residual part for a value of € 5,397,869.
The information memorandum is available at the registered office in Trieste, Corso Italia 31, the head office in Genoa Via C.R. Ceccardi 4/28 (phone + 39 010 54441 – fax + 39 010 5531201), at Borsa Italiana Spa in Milano Piazza Affari 6 and on the company's website, www.premuda.net.