Acotel : Monthly report (November 2019) required by art. 114, paragraph 5 of Legislative Decree 58/98

PRESS RELEASE

ACOTEL GROUP: monthly report required by art. 114, paragraph 5 of Legislative Decree 58/98

In compliance with the request sent by the CONSOB on 8 November 2016, pursuant to article 114, paragraph 5, of Legislative Decree 58/98, we report the following information on Acotel Group SpA and the Group that it heads as of the date of 30 November 2019:

1. Net funds with separate indication of theshort-term and medium/long-term components.

Acotel Group SpA	(€000)
	30 November 2019
A. Cash and cash equivalents	551
B. Liquidity (A)	551
C. Current bank borrowings	(110)
D. Other current financial liabilities	(13)
E. Current net debt (C+D)	(123)
F. Non-current bank borrowings	(197)
G. Other non-current financial liabilities	(10)
H. Non-current net debt (F+G)	(207)
I. Net funds (B+E+H)	221
Acotel Group	(€000)
	30 November 2019
A. Cash and cash equivalents	1,890
B. Assets held for trading	43
C. Liquidity (A + B)	1,933
D. Current bank borrowings	(110)
E. Other current financial liabilities	(21)
F. Current financial liabilities (D+E)	(131)
G. Non-current bank borrowings	(197)
H. Other non-current financial liabilities	(12)
I. Non-current net debt (G+H)	(209)
L. Net funds (C+F+I)	1,593

At 30 November 2019 Acotel Group SpA has a financial receivable of $ 3,551 thousand with maturity at 27 March 2024 towards to the related company (25% stake) Bucksense Inc..

1. Past due payables, distributed by type (financial, trade, tax, social security or amounts due to employees) and any related initiatives in response from creditors (requests, demands, cessation of supply, etc).
   At 30 November2019 there are no past due payables of a financial, tax or social security nature or past due amounts due to employees, with the exception of €165,570 in tax and social security liabilities.
   In terms of trade payables, it is noted that payment schedules are in place with some suppliers that exclude recourse to formal debt recovery actions by the same.
   The Group is facing economic and financial difficulties which do not ensure the timely fulfillment of emerging payment obligations, worsened by delayed cash inflows from the Indian subsidiary.
2. Key changes in relations with the Company's and the Acotel Group's related parties
   At 30 November 2019, there has been no material change in relations with the
   Company's and the Acotel Group's related parties compared to Annual report 2018 approved by the ordinary General Meeting of shareholders on 19 April 2019.
   With regard to the changes in the relationships between Acotel Group SpA and its subsidiaries included in the scope of consolidation, as well as directly between the latter, the related transactions are all conducted in the ordinary course of business typical of a group of companies and thus on an arm's length basis. There have been no atypical and/or unusual transactions, or such as might be considered to constitute a potential conflict of interest.

The manager responsible for the Group's financial reporting, Andrea Severini, hereby declares, pursuant to article 154-bis, paragraph 2 of Legislative Decree 58/1998 (the Consolidated Law on Finance), that the information in this press release is consistent with the underlying accounting records.

Rome, 30 December 2019

For further information contact:

Acotel Group S.p.A.

Davide Carnevale

Investor Relations

Tel. [phone]

e-mail:[e-mail]