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Home›Marine stocks›Sale of undelivered Iveco Group NV ordinary shares

Sale of undelivered Iveco Group NV ordinary shares

By Andre Cruz
June 30, 2022
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Iveco Group SA

Spin-off of CNH Industrial NV by separation and transfer of its “On-Highway” business to Iveco Group NV – Final settlement

Sale of undelivered Iveco Group NV ordinary shares

London / Torino, 30e June 2022

CNH Industrial NV (CUSIP: N20944 109; ISIN: NL0010545661; TICKER: CNHI) and Iveco Group NV (ISIN: NL0015000LU4; TICKER: IVG) announce the latest corporate activities related to the spin-off of CNH’s On-Highway business Industrial NV to Iveco Group NV (“the Split”), completed on January 1, 2022.

At 5:00 p.m. Eastern Time on June 24, 2022, a number of CNH Industrial shareholders entitled to receive common shares of Iveco Group NV (representing just over 1% of the issued share capital of Iveco Group), following the Split, have not provided the details of a securities account with an intermediary of Monte Titoli SpA, to which the ordinary shares of the Iveco Group (listed on Euronext Milan and only liable to be held and settled in the systems of Monte Titoli SpA) could be delivered (“the Relevant CNHI Shareholders”, and the ordinary Iveco Group NV shares to which they are entitled, “the Undelivered IVG Shares”).

Accordingly, in accordance with the Split documentation, Citigroup Global Markets Europe AG has been appointed to sell the Undelivered IVG Shares on Euronext Milan, in accordance with market regulations and practices. Upon completion of such sales, the total proceeds (net of all transaction costs, including brokerage, administration and foreign exchange costs) will be credited to the relevant CNHI shareholders, who will receive their pro rata share of such aggregate proceeds. (in US dollars), either by check or wire transfer, provided they have timely provided Computershare Trust Co NA (CNH Industrial NV’s transfer agent) with their bank details and the relevant conditions are met . Exact payment dates cannot be confirmed at this stage; however, if affected CNHI Shareholders do not receive payment by July 31, 2022, they should contact Computershare Trust Co NA

Additional information on the announced activities (namely the allocation of ordinary shares of the Iveco Group to the shareholders of CNH Industrial and the settlement of the undelivered IVG Shares) is available on the website of Iveco Group NV.

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose to innovate, which focuses on innovation, sustainability and productivity, the company provides the strategic direction, R&D capabilities and investments that enable the success of its global and regional brands. Worldwide, HI case and New Holland Agriculture provide 360° agricultural applications, from machines to tools, and the digital technologies that enhance them; and CASE and New Holland construction equipment offer a complete line of construction products that make the industry more productive. The Company’s regional brands include: STEYRfor agricultural tractors; Ravenleader in digital agriculture, precision technologies and the development of autonomous systems; Flexi Coilspecialized in tillage and seeding systems; Millermanufacture of application equipment; Kongskilde, providing tools for tillage, seeding and haymaking and forage; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electrical solutions. Throughout a history spanning more than two centuries, CNH Industrial has always been a pioneer in its industries and continues to innovate with passion and drive the efficiency and success of its customers. As a truly global company, CNH Industrial’s more than 37,000 employees are part of a diverse and inclusive workplace, focused on empowering customers to grow and build a better world.

For more information and the latest financial and sustainability reports, visit: cnhindustrial.com

For news about CNH Industrial and its brands, visit: media.cnhindustrial.com

Iveco NV Group (MI: IVG) is a global automotive leader active in utility and specialty vehicles, powertrains and related financial services. Each of its eight brands is a major player in its specific business: IVECO, a pioneering brand of commercial vehicles that designs, manufactures and markets heavy, medium and light trucks; FPT Industrial, a global leader in a wide range of advanced powertrain technologies in the agricultural, construction, marine, power generation and utility vehicle industries; IVECO BUS and HEULIEZ, brands of public transport and high-end buses and coaches; IDV, for highly specialized defense and civil protection equipment; ASTRA, a leader in heavy-duty quarry and large-scale construction vehicles; MAGIRUS, the industry-renowned manufacturer of firefighting vehicles and equipment; and IVECO CAPITAL, the financial arm that supports them all. The Iveco group employs approximately 34,000 people worldwide and has 28 manufacturing plants and 29 R&D centers. Further information is available on the Company’s website. www.ivecogroup.com

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