Template:Italianwithdrawalright: Difference between revisions
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Under [[Italian Law | Under [[Italian Law]] a [[shareholder]] on the [[Record Date]] who does not vote in favour of a proposed [[merger]] acquires a “[[Withdrawal right - Italian corporate law|withdrawal right]]” if the [[merger]] is approved. The withdrawal right allows a [[shareholder]] who abstained or voted against the [[merger]] to be cashed out of the equity at a pre-defined price equal to the average [[closing price]] published by [[Borsa Italiana]] for the six months prior to the notification date for the merger. It is therefore possible that the withdrawal right as a [[call option]] over the stock. It is only exercisable if the shareholder does not vote. <br> | ||
Latest revision as of 14:23, 13 August 2024
Under Italian Law a shareholder on the Record Date who does not vote in favour of a proposed merger acquires a “withdrawal right” if the merger is approved. The withdrawal right allows a shareholder who abstained or voted against the merger to be cashed out of the equity at a pre-defined price equal to the average closing price published by Borsa Italiana for the six months prior to the notification date for the merger. It is therefore possible that the withdrawal right as a call option over the stock. It is only exercisable if the shareholder does not vote.