AGA Italy

AGA Italy

Issuer

PHOTONIKE CAPITAL

Photonike Capital informs that despite the expiring deadline set on 31 October last, the counter-party owner of the AGA insurance company in Italy has not dissolved the reservation regarding the Binding Offer presented by the company.

Therefore Photonike Capital has decided to definitively cancel the offer and withdraw from dealing giving priority to the green field project in the Netherlands, entrusted to the AKD law firm.

Following the abandonment of the purchase negotiation, the activities concerning the issue of the reinsurer license in Belgium, which in the meantime had been frozen, will be restored and strengthened.