Yesterday, the Aicon Group, which manufactures luxury motor-yachts, has announced that Airon Ltd, majority shareholder of the company, which last July 23 had guaranteed its financial support to the group up to a maximum of three million , has only partially complied with the commitments made through the payment of a total of 300,000 euros is not sufficient to ensure the liquidity of operation. Following this communication Italy Stock Exchange today announced that the shares are suspended from trading Aicon indefinitely.
Aicon stated that, "in a letter to the board of directors, the majority shareholder also requested the CEO and the board if there are to date in perspective, and the conditions that allow the Aicon Group, even in the face supported by Airon srl, to pursue their activities as envisaged in the 2011-2015 business plan approved by the Board of Directors of Aicon Group on May 9, 2011, or whether, given the current market conditions, trade, and relations with the class bank, is not necessary to evaluate restructuring efforts through various means permitted by law. "
"The Board took note of the letter Airon Ltd, and the fact that, in light of the failure to comply with the obligations assumed by the majority, still the state of insolvency of the company - said in a statement the company - decided to give the legal position in order to assess alternative solutions to failure arising from the same state of insolvency and to consider taking action against the majority shareholder Airon Ltd for the fulfillment of obligations assumed by it for the protection of society.The group's managing director, Salvatore Candido, voted against the resolution, it does not believe that there are alternatives for resolving the crisis through a restructuring of the company, if not immediately removed the state of insolvency. "
"Based on ongoing assessments of the actions to be implemented - the note concludes - the board as soon as possible to provide any updates and or changes to the timing of corporate events announced on July 24, which provide for the September 16 Board Meeting approval of the draft budget and consolidated financial statements at August 31, 2010, the interim financial report to 28 February 2011, the Interim Report to 31 May 2011 and the balance sheet drawn up for the provisions in art. C. 2447, and the convocation of the extraordinary shareholders' meeting for next October 31, 2011 for the adoption of measures pursuant to Art. 2447 cc. "
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Yesterday, the Aicon Group, which manufactures luxury motor-yachts, has announced that Airon Ltd, majority shareholder of the company, which last July 23 had guaranteed its financial support to the group up to a maximum of three million , has only partially complied with the commitments made through the payment of a total of 300,000 euros is not sufficient to ensure the liquidity of operation. Following this communication Italy Stock Exchange today announced that the shares are suspended from trading Aicon indefinitely.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
