(Alliance News) - Casasold Spa announced on Friday that the shareholders' meeting passed a resolution to change its corporate name from "Casasold Spa" to "Tweppy Spa," resulting in an amendment to Article 1 of Casasold's bylaws, by a majority vote of the shareholders present, amounting to 66.675 percent of the share capital.

In addition, the company announced that the deed of merger by incorporation into Casasold of Tweppy Srl, already a wholly owned subsidiary, has been signed.

"The purpose of the merger is to achieve, in light of the evolution of Casasold's core business and its diversification to include the activities and services provided by Tweppy, a rationalization of the use of resources, to be operated mainly through the aggregation of the investee company. In addition, the merger is aimed at making the business management of the Company and the group more homogeneous and efficient, eliminating the duplication of management costs and business structures, and taking advantage of greater synergies, especially in the Merged Company's areas of responsibility," the company explained in a note.

Casasold is unchanged at EUR0.94 per share.

By Claudia Cavaliere, Alliance News reporter

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