(Alliance News) - Imvest Spa has announced the fulfillment of the second and final condition precedent of the agreement signed in December by its wholly owned subsidiary MC Real Estate Srl with Aptus Società Semplice, concerning the sale by the subsidiary in favor of Aptus of the real estate properties constituting three apartments located in Rome, Via Giulia.

The properties are encumbered by a mortgage of EUR7.0 million, registered to guarantee a loan of EUR3.5 million, granted in January 2008 by Banca Popolare di Novara Spa - which later became Banco BPM Spa - in favor of FI.Mar Spa, the original owner of the said properties.

Specifically, on October 6, 2022, Aptus purchased from the bank the mortgage loan of EUR2.0 million as the residual amount of the loan, becoming, therefore, the sole creditor in relation to it vis-à-vis FI.Mar, and that the effectiveness of the agreement was suspensively conditioned on the issuance by the competent Judge of the order extinguishing the enforcement proceedings concerning the Via Giulia Properties.

Therefore, MC and APTUS signed the deed acknowledging the fulfillment of the condition precedent that determined the final effectiveness of the agreement, as a result of which, therefore, the full and exclusive ownership rights over the Via Giulia Real Estate, relieved from the mortgage, were transferred in favor of Aptus at the agreed total price of EUR2.2 million.

With regard to the purchase price, in execution of the provisions of the agreement, Aptus confirmed as assigned and transferred in favor of MC the receivable it had against FI.Mar and purchased from the bank amounting to EUR2.0 million and paid by bank transfer the sum of EUR129,422.29 due as balance.

Imvest's stock is up 9.2 percent at EUR0.026 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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