Further to the press release published on October 16, 2013 and with reference to the request filed by Sisal S.p.A. (“Sisal”), a company of the Sisal Group, for the settlement of the case mentioned therein pursuant to Law Decree no. 102/2013, on October 29, 2013, Law Decree no. 102/2013 was converted into law with amendments allowing also a settlement by paying a minimum amount equal to 20% of the amount payable under the Court of Auditors’ (Corte dei Conti) first instance rulings, provided that the settlement request is submitted together with the payment of the settlement amount before November 4, 2013 and that the settlement request is approved by Court of Auditors.
Considering the above, Sisal S.p.A. submitted a new request to settle the case by way of payment of 20% of the amount payable under the Court of Auditors’ first instance ruling (Euro 245 million) and paid the corresponding amount of €49 million.
At a hearing held on October 30, 2013, the Court Auditors approved the first request filed by Sisal S.p.A., subject to the increase of the settlement amount to 30% of the amount payable under the ruling (the maximum amount permitted by law), setting the deadline for payment November 15, 2013. The decision was published on November 4, 2013.
Further to the above, at a new hearing held on November 8, 2013, the Court of Auditors rejected the second settlement proposal filed by Sisal, confirming its decision dated October 30, 2013.
Therefore, on November 14, 2013, Sisal paid an additional 10% (€24.5 million) of the amount stated by the first instance ruling, complying with the conditions imposed by the Court of Auditors for the approval of the settlement and thereby settling conclusively the case.