Ovs, following the letter of intent signed on 6 February 2024, signed a binding investment agreement with the aim of achieving control and, therefore, 100% of Goldenpoint in several stages.
Goldenpoint is one of the most recognized Italian brands of underwear, swimwear and socks, with a turnover of around 100 million euros thanks to a network of around 380 stores - of which 80% are direct - in highly prestigious locations. Ovs is already one of the most important players in the underwear segment in Italy, with a market share of 7.4%. With Goldenpoint this "position will be significantly strengthened", it is written in a note.
The agreement provides for an initial investment of 3 million euros intended to subscribe to a convertible bond loan and to acquire 3% of the share capital of Goldenpoint. By 31 July 2025, Ovs will have the right to increase to 51% by converting the loan and exercising a share purchase option against the payment of a predetermined price, also payable in treasury shares. The remaining 49% of the share capital may be acquired by Ovs through the exercise of put&call options, in a time window between 1 August 2026 and 31 July 2029.
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