World Duty Free shares to be listed from 1 October as demerger sealed

INTERNATIONAL. World Duty Free S.p.A. shares will start trading on 1 October after the listing was approved by the Italian Stock Exchange (Borsa Italiana). The move will seal the proportional partial demerger of Autogrill’s key divisions.

World Duty Free S.p.A ordinary shares have been admitted to the Mercato Telematico Azionario (electronic stock market), where they will be traded from next week.

The execution of the deed concerning the proportional partial demerger of Autogrill in favour of WDF was confirmed today (Thursday, 26 September).

Under the demerger operation, the entire share capital of WDFG SAU (the holding company of the Travel Retail & Duty Free business) held by Autogrill S.p.A. will be assigned to WDF S.p.A.

Following the filing of the deed of demerger with the relevant Companies Register, the demerger will come into legal effect on 1 October, the same date on which WDF shares will start trading.

In accordance with shareholders’ resolutions of Autogrill and WDF on 6 June, WDF will make a corporate capital increase of €63,600,000 by issuing 254,400,000 ordinary shares with no face value to be assigned to Autogrill S.p.A. shareholders on the basis of 1 WDF share per each Autogrill share held. The demerger will also entail a €63,600,000 reduction of Autogrill’s share capital without any cancellation of shares.

As of 1 October, Autogrill S.p.A.’s share capital will therefore amount to €68,688,000, fully subscribed and paid in, and representing by 254,400,000 ordinary shares with no face value, while the share capital of WDF will be equal to €63,720,000, fully subscribed and paid in, representing 254,520,000 ordinary shares with no face value.

The Commissione Nazionale per le Società e la Borsa (CONSOB) is the public authority responsible for regulating the Italian securities market. The authority has authorised the publication of the Information Document on the proportional partial demerger. That Information Document will be available on the websites of Autogrill (www.autogrill.com) and WDF (www.wdfg.com), together with the website of Borsa Italiana S.p.A. from 27 September onwards.

As reported previously, in June Autogrill shareholders backed a move for the proportional partial demerger of its key divisions and the creation of a new stand-alone travel retail entity under the World Duty Free name.

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