Press Release in accordance with CONSOB Regulation No. 11971/1999 and subsequent modifications
The Stock Option Plan subscription phase, offered to Dada Group’s employees, ended yesterday
Florence, February 7th, 2008 - The third and last period for the stock option plan subscription, exclusively offered to Dada Group’s employees, ended on February 6th 2008. The plan was previously approved by the Board of Directors of Dada S.p.A. (MTAX of Borsa Italiana: DA.MI) on June 20th 2005 and announced to the market on June 21st 2005. The second period for the stock option subscription, offered to Dada Group’s employees, ended the same day. The second period of subscription was approved by the Board of Directors on March 16th 2006 and previously announced to the Market on that date; both plans were approved in accordance with the Shareholders’ Meeting which took place on April 28th 2005.
The stock option plan, approved by the Board of Directors of Dada S.p.A. on March 16th 2006, foresees an extra subscription period from January 18th 2009 to February 6th 2009, with the same conditions previously announced to the Market and, together with the Plan approved on June 20th 2005, it is finalized to provide incentives and for ensuring loyalty of employees of the Group, by encouraging participation in the ownership of the Company.
The number of options exercised by the Group’s employees in the period concluded yesterday, amounted to 112,990 compared to a total of 144,800 options available in the period, representing a subscription rate of over 78.03%, resulting in the issue of 112,990 new ordinary shares of Dada S.p.A.
The grant price of each share - fixed during the Board meeting of June 20th 2005 – was equal to Euro 10.82, whilst the subscription price of each share agreed in the Board meeting of March 16th 2006 was equal to Euro 16.92.
The Company’s total income, deriving from the share capital increase, therefore amounted to Euro 1,222,551.80. As a consequence of the take up of the plan, the subscribed and paid-in share capital of Dada S.p.A. amounted to Euro 2,755,711.73, represented by 16,210,069 ordinary shares of Dada S.p.A., of a nominal value of Euro 0.17 each.