The Board of Directors has convened the Extraordinary Shareholders' Meeting of Carraro SpA for 21 December 2016

Extension to 30 June 2017 of the deadline for completion of the capital increase and consequent amendment of Article 5 of the Articles of Association is on the Agenda

Campodarsego (Padua), 21 November 2016 – The Board of Directors of Carraro SpA, world leader in power transmission systems, chaired by Enrico Carraro, has resolved to convene the Extraordinary Shareholders' Meeting of Carraro SpA to propose the extension of the deadline for completion of the capital increase as well amendment of Article 5 of the Articles of Association. The new Extraordinary Shareholders' Meeting has been called for 21 December 2016 at 11.30 am.

Extension of the completion deadline was considered appropriate following finalisation of the sale of the controlling interest of Elettronica Santerno and the need to make a number of significant changes to the Prospectus, in line with the new scope of consolidation of the Carraro Group. The draft Prospectus was filed on 18 November 2016 with Consob. The timing of the approval process does not allow completion of the capital increase to be ensured by 31 December 2016. Subsequently, it will also be necessary to amend Article 5 of the Articles of Association.

More specifically, the Board will propose to the Shareholders' Meeting to move the deadline for completion of the capital increase, to which to the Group's controlling shareholders have already contributed by paying 34 million euros by way of capital increase on 29 June last, from 31 December 2016 to 30 June 2017.

Go to Press release 21.11.2016