(Alliance News) - Borgosesia Spa announced on Thursday that Solution Bank Spa has intervened to support the group's development plan through a EUR7 million loan disbursed in favor of BGS Securities Srl - "NPL Italian Opportunities II" Fund.

This financing, the company explained, is "to be used for the purchase of loans and bonds arising from special situations with real estate underlyings in the residential and hospitality segments."

In addition, the company let it be known that the board of directors has taken note of the resignation submitted by the majority of the directors in office with effect from the shareholders' meeting called to approve the 2022 financial statements, and has therefore resolved to integrate the agenda of the May 23, 2023 shareholders' meeting in order to provide for the renewal of the entire administrative body.

Borgosesia's stock on Thursday was in the red by 2.3 percent at EUR0.75 per share.

By Chiara Bruschi, Alliance News reporter

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