Restructuring: the board meeting has been postponed until 4 November. Further scrutiny of the financial position

Risanamento has postponed the extraordinary meeting of the board of directors, which was scheduled for tomorrow, 28 October, until 4 November. According to a statement from the company, the postponement “is deemed appropriate in view of the need to complete the ongoing audits regarding the finalisation of the company’s interim financial statements, as well as in view of the developments in relations with the B&P Vehicle and Bizzi & Partners in relation to their ‘intention not to proceed with the completion of the fund restructuring and, consequently, the Step-In, as reported by certain media outlets’.”

In this context, ‘it is necessary for the board of directors to have access to up-to-date information, including in light of developments in relations with all stakeholders, such as to enable a comprehensive assessment of whether there are concrete prospects for strengthening the company’s capital base and, consequently, of the measures to be adopted’.

The meeting, which had been scheduled for 28 October, had been convened by the board of directors itself on 15 October, when the failure to finalise the sale of Santa Giulia had jeopardised the stability of Risanamento; preliminary accounts had revealed ‘a deterioration in the already critical financial position’, to the extent that a mandate was given to undertake, with the utmost urgency, all necessary actions to implement the measures required by law.

Risanamento’s financial difficulties are well known. The latest financial statements filed relate to the first nine months of 2025, and the available figures are for those nine months, which ended with a loss of 5.9 million (2024 ended with a loss of 47.45 million) and a negative consolidated equity of 0.8 million (it was positive at 5.2 million in 2024, compared with 52.6 million in 2023), whilst the net financial position – which benefited from the sale of the property in Via Grosio – stood at 27.9 million. Consob has, for some time, placed the share on the so-called ‘blacklist’, with monthly monitoring of the net financial position, which has been gradually declining: below 12 million in September 2026.