On 14 February 2023, Consob launched the consultation with the market on a proposal for a communication (the "Communication") to provide information in relation to the disclosure obligations of issuers with shares listed on regulated markets connected to single-investor reserved convertible bonds with the characteristics identified in said Communication (the "non-standard POC"). The Communication also contains further information on Stand-by Equity Distribution Agreements ("SEDAs"), Step-Up Equity Financing ("SEFs") and all other types of similar operations, considering their similarities with non-standard POCs.

Originally published by March, 2023

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