Court Approval of Debt Recostruction Plan

With reference to the creditors’ agreement communication reached on December 10, 2020, we hereby inform you that on February 12, 2021, in accordance to art. 182 L.F.  the Italian Court approved the debt reconstruction plan submitted by Arioli on December 09, 2020.

In execution of the approved plan, Arioli will get rid of all existing bank debt and most of the other suppliers’ debt.

As from today February 15, 2021 the Company resumes all its activities in normality as before the beginning of the procedure started in May 2020, to fulfil all the delivery commitments, and from now on the production will continue in full capacity.

In the next few months shall deliver all the orders already in the portfolio.

We thank all creditors and customers for trust and support shown to Arioli in this situation.