BREAKING NEWS – 21.07.2023

In the press release of July 13th, 2023, NVP SpA – Innovative SME listed on Euronext Growth Milan active in the end-to-end creation of content for television networks and broadcasting services, announced that it has signed, together with Euroscena Srl and Mediapro International SL (a company under Spanish law and owner of 100% of the share capital of Euroscena Srl), the Term Sheet in which the guidelines of the agreements related to the acquisition of a Business Unit, historically owned by Euroscena itself, by NVP are identified. The purchase in question includes: the technological infrastructure in its entirety as well as the assets that are currently in use by Euroscena in order to correctly manage the Branch; the lease agreement, whose parties are Eumovil (Mediapro group company) and Euroscena, and whose object is the equipment and technologies of mobile studio OB Van n. 33; employment contracts for 25 Euroscena human resources; the lease of a warehouse located in the Tor Cervara area (Rome). According to the provisions set out in the Term Sheet, the regulation of the transfer of the Business Unit by Euroscena will be defined by means of a specific definitive and binding agreement that will be stipulated and signed in the future by NVP, Euroscena and Mediapro and that will be subject to the fulfilment of certain conditions: the completion of the process of information and consultation of trade unions, linked to the transfer of Euroscena employees to NVP following the sale of the Branch; obtainment of consent by Euroscena from its main client to the use of the Business Unit for the audiovisual production of home matches concerning three Serie A teams, during the championship and the Italian Cup for the entire 23/24 sports season; the realization of the agreement between NVP, Euroscena and Mediapro and other Mediapro subsidiaries on terms and conditions for the provision of services to date set forth at the Business Unit and for the stipulation of exclusive commercial agreements regarding the Italian market only; the execution of an agreement regarding the terms and conditions of a put option, which Euroscena grants to NVP, regarding the possible sale back of the acquired Assets by NVP to Euroscena; the positive outcome of NVP’s ongoing due diligence activities. The Company also specifies, in the press release of July 17th, 2023, how the price agreed with the transferor company for the purchase of the Company Branch, is not relevant or material. Taking into consideration the press release and while waiting for the completion of the effects of the acquisition, we confirm our recommendation: target price € 7.50, rating BUY and risk MEDIUM

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