The Board of Directors of Iervolino Entertainment – a company specialised in the production of cinematographic, television, web series and short content, listed on the AIM Italia stock exchange – today approved the proposal to amend and update the power delegated to the Board of Directors to increase the share capital, also to provide for the possibility of increasing the share capital to allow for the issuance of warrants to be offered to shareholders and others.

The delegation of powers to the Board of Directors to increase the share capital pursuant to art. 2443 of the Italian Civil Code had been approved by the Shareholders’ Meeting of 10 April, for the increase of the share capital paid or in kind up to a maximum total of €50,000,000 including premium, to be executed in a divisible manner in one or more tranches by 31 December 2024.

The Shareholders’ Meeting of Iervolino Entertainment will be convened in an extraordinary session for the approval of the aforementioned amendment and update of the delegated power on 23 September 2020, in the manner and with the timing established by law.

The Company also notes that the meeting of the Board of Directors for the approval of the half-yearly report, initially scheduled for 30 September 2020, has been brought forward and will take place on 23 September. The new financial calendar is published online at www.iervolinoentertainment.it, in the Investor Relations section.