Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
Sale of Ad Maiora completed
In accordance with the strategy of focus on high added value core business - community and entertainment products/services accessible both via web and mobile - DADA has completed the sale of its holding in Ad Maiora S.p.A.
The disposal generated a gain of Euro 470 thousand.
Florence, November 14, 2005 - In implementing the Group restructuring plan, DADA S.p.A (TechStar: DA.MI) has completed the sale of the investment held in the subsidiary Ad Maiora S.p.A., already communicated to the market on September 30, 2005.
The sale of the entire holding in Ad Maiora (60% of the share capital) was completed today for a cash price of Euro 1.3 million in favour of DADA S.p.A.. This investment was recorded in the financial statements of DADA at December 31, 2004 at a value of Euro 830 thousand; the sale therefore generates a gain of Euro 470 thousand.
Commercial partnerships in the service businesses will remain between DADA and Ad Maiora, in particular in the positioning on search engines and planning of on-line advertising.