Major holdings notification – Enrico and Tomaso Carraro increase stake above 50% threshold; Mario Carraro's stake falls below 5% threshold

(provided in accordance with article 113-ter, paragraphs 1,2 of the Consolidated Finance Act (TUF), article 12 Directive 2004/109/CE, and articles 65-septies, 117 and 118 no. 3-bis Issuer Regulations)

Campodarsego (Padua), 12 August 2019 - Carraro S.p.A. announces that the shareholder Mario Carraro has sold his shares in Finaid S.p.A., the holding company that owns 35.395% of the share capital of Carraro S.p.A, to his sons Enrico Carraro and Tomaso Carraro, who as a result now jointly control 50.495% of the voting rights in Carraro S.p.A..

Mario Carraro has also transferred ownership of 3,774,640 shares in Carraro S.p.A. to Enrico and Tomaso Carraro, representing 5,459,794 voting rights by virtue of double voting rights under article 5 of the Articles Association and article 8 of the Special List Regulation of Carraro S.p.A., equivalent to 4.735% of share capital and 4.886% of voting rights.

As such, the shareholder Mario Carraro has transferred joint control of Carraro S.p.A. to his sons, Enrico and Tomaso.

Mario Carraro has retained ownership of 600,000 shares, which no longer attract double voting rights and therefore represent 600,000 voting rights. Mario Carraro has also retained the usufruct of the shares sold, with voting rights limited solely to the extraordinary general meeting.

Therefore, Carraro S.p.A. discloses that Mario Carraro's voting rights at the Shareholders' Meeting of Carraro S.p.A. have fallen to 0.537%, below the 5% threshold. Conversely, his sons Enrico and Tomaso Carraro have acquired 55.381% of the voting rights at the Shareholders' Meeting of Carraro S.p.A., thereby exceeding the 50% threshold.

Last update: 12 August 2019