MailUp Group announced acquisition of residual 30% stake in Acumbamail SL

Milan/Madrid, August 1, 2018 – MailUp S.p.A. (the “Company” or “MailUp Group”), a company listed on “AIM Italia / Mercato Alternativo del Capitale”, a multilateral trading facility regulated by Borsa Italiana, and operating in the marketing technology industry, announced today that the shareholders holding 30% of the Spanish subsidiary Acumbamail SL (“Acumbamail”) exercised the Put Option towards the Company, as per the purchase and shareholders agreements executed on the occasion of the acquisition of a 70% stake in Acumbamail, announced on August 3, 2015. The condition for the exercise was the achievement of certain performance targets for the three-year period 2015-2018, which were positively verified. The price for the acquisition of residual 30% of Acumbamail share capital amounts to Euro 593 thousand and was paid today from the Company’s liquidity. The value of the 70% stake of Acumbamail share capital as per FY 2017 financial statements is Euro 499 thousand.