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Datalogic S.p.A. (Star: DAL.MI): The Board of Directors approves the Prospectus and the timetable of the capital increase of 76,6 Millions Euro

The period of offers and the period of option rights negotiation will begin on 19 December


Bologna, 13rd December 2005
- The Board of Directors of Datalogic S.p.A. approved today the Prospectus related to the capital increase with fee of 76,6 Millions Euro deliberated by the extraordinary Shareholders’ meeting on 2 December, 2005.

The capital increase will have a maximum nominal amount of 7.209.005,44 Euro through the issue of a maximum of 3.465.868 ordinary shares at a total price of Euro 22,10 for each share (2,08 Euro of nominal value and 20,02 Euro of price increase).

The capital increase will be offered in option to the Shareholders at the ratio of 7 new shares for every 25 shares owned.
The capital increase is settled to find the necessary economic resources in order to complete the acquisition of the American company PSC.

The timetable is the following:

  • Option rights offer: from 19 December 2005 to 9 January 2006;
  • Period of negotiation of option rights at the Stock Exchange: from 19 December 2005 to 2 January 2006;

As far as the participation to the capital increase is concerned, Tamburi & Associati S.p.A., as the director of the operation appointed by Datalogic, subscribed a contract with Hydra S.p.A., Datalogic holding, committing to buy 80% of the option rights reserved to Hydra.

Moreover Tamburi & Associati promised that, in case the shareholders do not complete the subscription of the capital increase, selected third parties will subscribe all the left option rights. In any case, thanks to the work of Tamburi & Associati, it will not be necessary to create any consortium of guarantee and /or placement.

PSC acquisition was completed in the past days with the payment of a total value of 195 Millions of USD (enterprise value). Datalogic is financing the operation with a bank loan for 95 Millions Euro and cash for the remaining 100 Millions.
Since more than thirty years PSC Group, based in Eugene, Oregon (USA), develops produces and sells fixed position bar code scanners for the retail market, hand held readers and mobile computers. PSC is one of the first pioneers of the AIDC market: in 1974 it was this company that introduced the first fixed scanner for bar code reading in a retail point of sale.