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The initial conversion price of the Bonds into existing and/
or new ordinary shares of Prysmian S.p.A. is Euro 22.3146 per
share.
On 3 May 2013, Prysmian S.p.A. sent a physical settlement
notice to holders of the Bonds, granting them the right, with
effect from 17 May 2013, to convert them into the Company’s
existing or new ordinary shares.
On 24 May 2013, the securities were admitted to trading on
the unregulated Third Market (a multilateral trading facility
or MTF) on the Vienna Stock Exchange.
Group employee share purchase plan (YES Plan)
On 16 April 2013, the shareholders approved a share purchase
plan reserved for employees of Prysmian S.p.A. and its
subsidiaries, including some of the Company’s Directors.
The Plan offers the opportunity to purchase Prysmian’s
ordinary shares on preferential terms, with a maximum
discount of 25% on the stock price, offered in the form of
treasury shares. The shares purchased will be subject to a
retention period, during which they cannot be sold. The Plan
envisages three purchase windows: 2014, 2015 and 2016.
During the month of October 2013, the plan was presented
and explained to some 16,000 of the Group’s employees in
27 countries and subscriptions were collected for the first
purchase window.
More details can be found in Note 17. Personnel costs.
Termination of receivables securitization programme
The trade receivables securitization programme, started by
the Prysmian Group in 2007, was terminated in July 2013
upon reaching its natural end date.
Business reorganisation
As from 1 July 2013, the activities of purchasing strategic
materials (copper, aluminium and lead) from third-party
suppliers and reselling them to the Group’s operating
companies have been centralised in Prysmian S.p.A.. This
operation is part of the reorganisation of activities within the
Prysmian Group with the goal of having greater control over
what is considered a strategic business for the Group.
Finance lease
On 14 November 2013, Prysmian S.p.A. took over a finance
lease relating to a building located in Milan; the Company
took the opportunity to take over the lease on this property
which hosts the Research and Development function and was
previously rented under an operating lease. This property is
also of strategic importance as it is next to the site where
the new headquarters of the Prysmian Group will be built.
An interest rate of 2.12103% has been applied to this finance
lease, which expires on 20 January 2027. More information
can be found in Note 1. Property, plant and equipment and
Note 10. Borrowings from banks and other lenders.
