3decades

MIRA INFORM REPORT

Report No. :	503589
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	SANTONI S.P.A.

Registered Office :	Via Carlo Fenzi, 14 25135 – Brescia (BS) -IT-

Country :	Italy

Financials (as on) :	31.12.2016

Date of Incorporation :	22.12.1961

Legal Form :	Joint stock company

Line of Business :	· Manufacture of textile machinery, machinery and systems for auxiliaryy treatment of textiles, sewing and weaving machines (including spare parts and accessories) · Wholesale of machinery for the textile industry and sewing and knitting machines

No. of Employees :	251 to 500

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	Slow but Correct

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Italy

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

ITALY - ECONOMIC OVERVIEW

Italy’s economy compromises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors.

Italy is the third-largest economy in the euro zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 131% of GDP in 2017. Investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's longstanding structural economic problems, including labor market inefficiencies, a sluggish judicial system, and a weak banking sector. Italy’s economy returned to modest growth in late 2014 for the first time since 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.

Source : CIA

Company name and address

Santoni S.p.a.

Via Carlo Fenzi, 14

25135 – Brescia (BS) -IT-

Summary

Fiscal Code	:	00273280172
Legal Form	:	Joint stock company
start of Activities	:	22/12/1961
Equity	:	Over 2.582.254
Turnover Range	:	35.000.000/50.000.000
Number of Employees	:	from 251 to 500

Activity

Manufacture of textile machinery, machinery and systems for auxiliaryy treatment of textiles, sewing and weaving machines (including spare parts and accessories)

Wholesale of machinery for the textile industry and sewing and knitting machines

Legal Data

Legal Form : Joint stock company

Fiscal Code : 00273280172

Foreign Trade Reg. no. : BS036084 since 03/03/1992

Chamber of Commerce no. : 19526 of Brescia since 23/01/1962

Firms' Register : BS029-182 of Brescia since 19/02/1996

V.A.T. Code : 00273280172

R. E. C. no. : 11595 of Brescia since 18/03/1988

Foundation date	: 22/12/1961
Establishment date	: 22/12/1961
Start of Activities	: 22/12/1961
Legal duration	: 31/12/2050
Nominal Capital	: 41.000.000
Subscribed Capital	: 41.000.000
Paid up Capital	: 41.000.000

Legal mail :

SANTONI@PEC.LONATIGROUP.IT

Members

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati S.p.a.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Francesco Lonati

, 3

- 25124

Brescia

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Ettore

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Botticino

(BS)

on 08/06/1938

- Fiscal Code : LNTTTR38H08B091N

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Sott'acqua

, 32

- 25082

Botticino

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Director	27/06/2017
Board Chairman	27/06/2017
Managing Director	27/06/2017

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Fausto

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Botticino

(BS)

on 22/02/1941

- Fiscal Code : LNTFST41B22B091R

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Mediana

, 12

- 25123

Brescia

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Director	27/06/2017
Managing Director	27/06/2017

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Garza

Gian Battista

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Castegnato

(BS)

on 19/12/1957

- Fiscal Code : GRZGBT57T19C055B

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Nikolajewka

, 20

- 25035

Ospitaletto

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	29/06/1998

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Andrea

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Brescia

(BS)

on 15/07/1970

- Fiscal Code : LNTNDR70L15B157W

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Del Goletto

, 48

- 25123

Brescia

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	24/01/2008
Director	27/06/2017
Managing Director	27/06/2017

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Andreoli

Marco

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Castegnato

(BS)

on 19/05/1953

- Fiscal Code : NDRMRC53E19C055R

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Scuole

, 25

- 25045

Castegnato

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	09/05/2005

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Adele

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Brescia

(BS)

on 05/05/1972

- Fiscal Code : LNTDLA72E45B157C

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Ronchi S Francesco Di Paola

, 1

- 25123

Brescia

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	24/01/2008

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Antonioli

Mauro

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Born in Gavardo

(BS)

on 15/06/1965

- Fiscal Code : NTNMRA65H15D940D

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Residence:

Arnaldo

, 52

- 25011

Calcinato

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	03/07/2015

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

No Protests registered

Companies connected to members *

*checkings have been performed on a national scale.

In this module are listed the companies in which members hold or have holded positions.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Ettore

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Solis S.r.l.	Brescia (BS) - IT -	00396360489	Managing Director	Active	Registered
Solis S.r.l.	Brescia (BS) - IT -	00396360489	Director	Active	Registered
Solis S.r.l.	Brescia (BS) - IT -	00396360489	Board Chairman	Active	Registered
Lonati S.p.a.	Monza (MI) - IT -	01232530178	Director	Withdrawn	Ceased
Lonati S.p.a.	Monza (MI) - IT -	01232530178	Procurator	Withdrawn	Ceased
Marchisio S.r.l.	Brescia (BS) - IT -	02220530014	Director	Withdrawn	Ceased
Marchisio S.r.l.	Brescia (BS) - IT -	02220530014	Managing Director	Withdrawn	Ceased
Cst-bristol Spa	Trezzo sull'Adda (MI) - IT -	01783590159	Director	Withdrawn	Registered
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Chairman	Withdrawn	Registered
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Director	Active	Registered
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Managing Director	Active	Registered
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Board Chairman	Active	Registered
Alfa Acciai S.p.a.	Brescia (BS) - IT -	00988040176	Director	Active	Registered
Alfa Acciai S.p.a.	Brescia (BS) - IT -	00988040176	Managing Director	Active	Registered
Alfa Acciai S.p.a.	Brescia (BS) - IT -	00988040176	Board Chairman	Active	Registered
Vignoni S.r.l.	Brescia (BS) - IT -	01472290160	Director	Withdrawn	Registered
Vignoni S.r.l.	Brescia (BS) - IT -	01472290160	Managing Director	Withdrawn	Registered
Vignoni S.r.l.	Brescia (BS) - IT -	01472290160	Board Chairman	Withdrawn	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Managing Director	Withdrawn	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Director	Active	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Managing Director	Active	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Board Chairman	Active	Registered
Spanlon - S.r.l.	Brescia (BS) - IT -	03086190174	Director	Withdrawn	Ceased
Banca Agricola Mantovana - S.p.a.	Mantova (MN) - IT -	00141280206	Director	Withdrawn	Ceased
Sangiacomo S.p.a.	Brescia (BS) - IT -	02994150171	Director	Withdrawn	Ceased
Sangiacomo S.p.a.	Brescia (BS) - IT -	02994150171	Managing Director	Withdrawn	Ceased
Sangiacomo S.p.a.	Brescia (BS) - IT -	02994150171	Board Chairman	Withdrawn	Ceased
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Managing Director	Withdrawn	Registered
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Director	Withdrawn	Registered
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Liquidator	Withdrawn	Registered
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Board Chairman	Withdrawn	Registered
Fert - Neo Solaio - S.r.l.	Corte Franca (BS) - IT -	00300050176	Chairman	Withdrawn	Ceased
Fert - Neo Solaio - S.r.l.	Corte Franca (BS) - IT -	00300050176	Managing Director	Withdrawn	Ceased
Electronic Knitting Machines S.r.l.	Rezzato (BS) - IT -	01441760178	Director	Withdrawn	Ceased
Electronic Knitting Machines S.r.l.	Rezzato (BS) - IT -	01441760178	Managing Director	Withdrawn	Ceased
Electronic Knitting Machines S.r.l.	Rezzato (BS) - IT -	01441760178	Board Chairman	Withdrawn	Ceased
Inerti Belvedere S.r.l.	Ghedi (BS) - IT -	01590840987	Director	Withdrawn	Registered
Tecnopea S.r.l.	Quinzano d'Oglio (BS) - IT -	00951760198	Director	Active	Registered
Tecnopea S.r.l.	Quinzano d'Oglio (BS) - IT -	00951760198	Managing Director	Active	Registered
Tecnopea S.r.l.	Quinzano d'Oglio (BS) - IT -	00951760198	Board Chairman	Active	Registered
Acciaierie Laminatoi Fonderie Affini A.l.f.a. - Societa' Per Azio Ni	Brescia (BS) - IT -	00272520172	Director	Active	Registered
Acciaierie Laminatoi Fonderie Affini A.l.f.a. - Societa' Per Azio Ni	Brescia (BS) - IT -	00272520172	Assistant board Chairman	Active	Registered
Acciaierie Laminatoi Fonderie Affini A.l.f.a. - Societa' Per Azio Ni	Brescia (BS) - IT -	00272520172	Managing Director	Active	Registered
Alfa Derivati S.r.l.	Brescia (BS) - IT -	02838070171	Director	Withdrawn	Registered
Alfa Derivati S.r.l.	Brescia (BS) - IT -	02838070171	Managing Director	Withdrawn	Registered
Immobiliare Monterosa Di Ettore Lonati EC.	Brescia (BS) - IT -	00273020172	Director	Withdrawn	Registered
Immobiliare Monterosa Di Ettore Lonati EC.	Brescia (BS) - IT -	00273020172	Partner	Withdrawn	Registered
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Director	Active	Registered
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Sole Director	Withdrawn	Registered
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Managing Director	Active	Registered
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Board Chairman	Active	Registered
Cadore 81 - S.r.l.	Brescia (BS) - IT -	01663190179	Director	Withdrawn	Ceased
Immobiliare Tre Stelle S.r.l.	Brescia (BS) - IT -	02801000171	Director	Active	Registered
Immobiliare Tre Stelle S.r.l.	Brescia (BS) - IT -	02801000171	Managing Director	Active	Registered
Immobiliare Tre Stelle S.r.l.	Brescia (BS) - IT -	02801000171	Board Chairman	Active	Registered
Dinema Computers Service - S.r.l.	Brescia (BS) - IT -	02952070171	Managing Director	Withdrawn	Ceased
Dinema Computers Service - S.r.l.	Brescia (BS) - IT -	02952070171	Board Chairman	Withdrawn	Ceased
Siderurgica Investimenti S.r.l.	Bedizzole (BS) - IT -	01531000980	Director	Withdrawn	Registered
Siderurgica Investimenti S.r.l.	Bedizzole (BS) - IT -	01531000980	Director	Active	Registered
Alfa Derivati Sud S.r.l.	Tortoreto (TE) - IT -	00807920673	Director	Withdrawn	Ceased
Sud - Invest S.r.l.	Brescia (BS) - IT -	02943810172	Managing Director	Withdrawn	Ceased
Iniziative 91 - S.r.l.	Brescia (BS) - IT -	01274530227	Director	Withdrawn	Registered
Iniziative 91 - S.r.l.	Brescia (BS) - IT -	01274530227	Sole Director	Withdrawn	Registered
S.f.i.m. Di Lonati Cav. Francesco E C. Societa' In Accomandita Semplice	Brescia (BS) - IT -	09166500158	General Partner	Withdrawn	Registered
Marzoli S.p.a.	Palazzolo sull'Oglio (BS) - IT -	01957420167	Managing Director	Withdrawn	Merged
Marzoli S.p.a.	Palazzolo sull'Oglio (BS) - IT -	01957420167	Board Chairman	Withdrawn	Merged
Alimvest S.p.a.	Piacenza (PC) - IT -	01148490335	Director	Withdrawn	Registered
Alimvest S.p.a.	Piacenza (PC) - IT -	01148490335	Board Chairman	Withdrawn	Registered
Hopa - Societa' Per Azioni - Holding DiPartecipazioni Aziendali In Sigla Hopa	Brescia (BS) - IT -	03051180176	Director	Withdrawn	Ceased
Hopa - Societa' Per Azioni - Holding DiPartecipazioni Aziendali In Sigla Hopa	Brescia (BS) - IT -	03051180176	Assistant board Chairman	Withdrawn	Ceased
Hopa - Societa' Per Azioni - Holding DiPartecipazioni Aziendali In Sigla Hopa	Brescia (BS) - IT -	03051180176	Managing Director	Withdrawn	Ceased
Hopa - Societa' Per Azioni - Holding DiPartecipazioni Aziendali In Sigla Hopa	Brescia (BS) - IT -	03051180176	Memb.of the Executive Committee	Withdrawn	Ceased
Hopa - Societa' Per Azioni - Holding DiPartecipazioni Aziendali In Sigla Hopa	Brescia (BS) - IT -	03051180176	Board Chairman	Withdrawn	Ceased
Finnord S.r.l.	Brescia (BS) - IT -	02998010173	Sole Director	Withdrawn	Ceased
Servizi Energetici Industriali S.r.l.	Catania (CT) - IT -	01953310982	Director	Withdrawn	Registered
Servizi Energetici Industriali S.r.l.	Catania (CT) - IT -	01953310982	Director	Withdrawn	Registered
Servizi Energetici Industriali S.r.l.	Catania (CT) - IT -	01953310982	Managing Director	Withdrawn	Registered
Servizi Energetici Industriali S.r.l.	Catania (CT) - IT -	01953310982	Board Chairman	Withdrawn	Registered
Tonigest Sistemi S.r.l.	Brescia (BS) - IT -	01416310207	Liquidator	Withdrawn	Ceased
Broli Due S.r.l.	Bedizzole (BS) - IT -	03038970178	Sole Director	Withdrawn	Ceased
C.s.t. Net S.p.a.	Trezzo sull'Adda (MI) - IT -	12250920159	Director	Withdrawn	Registered
Lonati Group Service S.r.l.	Brescia (BS) - IT -	02438680122	Director	Withdrawn	Registered
Lonati Group Service S.r.l.	Brescia (BS) - IT -	02438680122	Managing Director	Withdrawn	Registered
Lonati Group Service S.r.l.	Brescia (BS) - IT -	02438680122	Board Chairman	Withdrawn	Registered
M.c.m. S.r.l.	Brescia (BS) - IT -	03453390175	Managing Director	Withdrawn	Ceased
M.c.m. S.r.l.	Brescia (BS) - IT -	03453390175	Director	Withdrawn	Ceased
M.c.m. S.r.l.	Brescia (BS) - IT -	03453390175	Board Chairman	Withdrawn	Ceased
Effebi Finanziaria S.r.l.	Brescia (BS) - IT -	03115690178	Sole Director	Withdrawn	Ceased
Acciaierie E Ferriere Mediterranee S.p.a. A.fe.m. Societa' Per	Campofelice di Roccella (PA) - IT -	00101490829	Director	Withdrawn	Ceased
Earchimede S.p.a.	Brescia (BS) - IT -	03560930178	Director	Withdrawn	Ceased
Holinvest S.r.l.	Brescia (BS) - IT -	03562710172	Director	Withdrawn	Ceased
Holinvest S.r.l.	Brescia (BS) - IT -	03562710172	Board Chairman	Withdrawn	Ceased
Morgante Srl	Brescia (BS) - IT -	03608180174	Director	Active	Registered
Morgante Srl	Brescia (BS) - IT -	03608180174	Managing Director	Active	Registered
Morgante Srl	Brescia (BS) - IT -	03608180174	Board Chairman	Active	Registered
Mil Meccanotessile Internazionale LonatiS.r.l.	Brescia (BS) - IT -	03556010175	Director	Withdrawn	Registered
Mil Meccanotessile Internazionale LonatiS.r.l.	Brescia (BS) - IT -	03556010175	Managing Director	Withdrawn	Registered
Mil Meccanotessile Internazionale LonatiS.r.l.	Brescia (BS) - IT -	03556010175	Board Chairman	Withdrawn	Registered
ALFA DERIVATI S.R.L.	- -	02838070171	Managing Director	Withdrawn	Registered
Csl S.r.l.	Brescia (BS) - IT -	02231490984	Sole Director	Withdrawn	Registered
Expo Sviluppo S.r.l.	Brescia (BS) - IT -	02832430983	Director	Active	Registered
Expo Sviluppo S.r.l.	Brescia (BS) - IT -	02832430983	Assistant board Chairman	Active	Registered
Expo Sviluppo S.r.l.	Brescia (BS) - IT -	02832430983	Managing Director	Active	Registered
Palazzo Morgante Trade Building Srl	Brescia (BS) - IT -	03097040988	Director	Withdrawn	Registered
Banca Agricola Mantovana S.p.a. In Breve Bam S.p.a. Ovvero B.a.m. S.p.a.	Mantova (MN) - IT -	02017160207	Director	Withdrawn	Ceased
Immobiliare Cadore Di Ettore Lonati E C.S.n.c.	Brescia (BS) - IT -	00874550171	Partner	Withdrawn	Ceased
Immobiliare Adige Di Ettore Lonati E C.S.n.c.	Brescia (BS) - IT -	00874490170	Director	Withdrawn	Ceased
Immobiliare Adige Di Ettore Lonati E C.S.n.c.	Brescia (BS) - IT -	00874490170	Partner	Withdrawn	Ceased
Immobiliare Falco Di Ettore Lonati E C.S.n.c.	Brescia (BS) - IT -	00874570179	Director	Withdrawn	Ceased
Immobiliare Falco Di Ettore Lonati E C.S.n.c.	Brescia (BS) - IT -	00874570179	Partner	Withdrawn	Ceased
Societa' Agricola Cascina Sei Ore S.r.l.	Brescia (BS) - IT -	02355930989	Director	Active	Registered
Societa' Agricola Cascina Sei Ore S.r.l.	Brescia (BS) - IT -	02355930989	Managing Director	Active	Registered
Societa' Agricola Cascina Sei Ore S.r.l.	Brescia (BS) - IT -	02355930989	Board Chairman	Active	Registered
Eventi Moda S.r.l.	Milano (MI) - IT -	04073390967	Director	Withdrawn	Registered
Antica S.r.l.	Brescia (BS) - IT -	03078270984	Managing Director	Active	Registered
Antica S.r.l.	Brescia (BS) - IT -	03078270984	Director	Active	Registered
Antica S.r.l.	Brescia (BS) - IT -	03078270984	Board Chairman	Active	Registered
Locate District S.p.a.	Brescia (BS) - IT -	03098120987	Managing Director	Withdrawn	Registered
Locate District S.p.a.	Brescia (BS) - IT -	03098120987	Director	Active	Registered
Locate District S.p.a.	Brescia (BS) - IT -	03098120987	Managing Director	Active	Registered
Vittoria S.r.l.	Brescia (BS) - IT -	03534260983	Director	Active	Registered
Vittoria S.r.l.	Brescia (BS) - IT -	03534260983	Board Chairman	Active	Registered
Iniziative Alimentari S.r.l.	Castenedolo (BS) - IT -	03653850986	Director	Active	Registered
Lonati Holding Srl	Brescia (BS) - IT -	03801910989	Director	Active	Registered
Lonati Holding Srl	Brescia (BS) - IT -	03801910989	Managing Director	Active	Registered
Lonati Holding Srl	Brescia (BS) - IT -	03801910989	Board Chairman	Active	Registered
Istituto Tecnico Superiore Per Le NuoveTecnologie Per Il Made In Italy Machina	Brescia (BS) - IT -	98156900171	Chairman	Active	Registered
Istituto Tecnico Superiore Per Le NuoveTecnologie Per Il Made In Italy Machina	Brescia (BS) - IT -	98156900171	Director	Active	Registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Fausto

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Solis S.r.l.	Brescia (BS) - IT -	00396360489	Managing Director	Active	Registered
Solis S.r.l.	Brescia (BS) - IT -	00396360489	Director	Active	Registered
Lonati S.p.a.	Monza (MI) - IT -	01232530178	Director	Withdrawn	Ceased
Marchisio S.r.l.	Brescia (BS) - IT -	02220530014	Liquidator	Withdrawn	Ceased
F.i.b. - Fonderia Industriale Bresciana- S.r.l.	Collebeato (BS) - IT -	00274040179	Liquidator	Withdrawn	Ceased
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Director	Active	Registered
Dinema S.p.a.	Brescia (BS) - IT -	00292820172	Managing Director	Active	Registered
Microcontrol - Societa' Per Azioni	Brescia (BS) - IT -	01547910172	Liquidator	Withdrawn	Ceased
Cilmac S.r.l.	Roncadelle (BS) - IT -	00268310174	Director	Withdrawn	Ceased
Vignoni S.r.l.	Brescia (BS) - IT -	01472290160	Director	Withdrawn	Registered
Vignoni S.r.l.	Brescia (BS) - IT -	01472290160	Managing Director	Withdrawn	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Managing Director	Withdrawn	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Director	Active	Registered
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Managing Director	Active	Registered
Spanlon - S.r.l.	Brescia (BS) - IT -	03086190174	Managing Director	Withdrawn	Ceased
Spanlon - S.r.l.	Brescia (BS) - IT -	03086190174	Director	Withdrawn	Ceased
Spanlon - S.r.l.	Brescia (BS) - IT -	03086190174	Liquidator	Withdrawn	Ceased
Sangiacomo S.p.a.	Brescia (BS) - IT -	02994150171	Director	Withdrawn	Ceased
Sangiacomo S.p.a.	Brescia (BS) - IT -	02994150171	Managing Director	Withdrawn	Ceased
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Managing Director	Withdrawn	Registered
Matec S.r.l. - In Liquidazione	Brescia (BS) - IT -	01233800935	Director	Withdrawn	Registered
Electronic Knitting Machines S.r.l.	Rezzato (BS) - IT -	01441760178	Director	Withdrawn	Ceased
Electronic Knitting Machines S.r.l.	Rezzato (BS) - IT -	01441760178	Managing Director	Withdrawn	Ceased
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Director	Active	Registered
Sviluppo 74 S.p.a.	Brescia (BS) - IT -	00475240172	Managing Director	Active	Registered
Cadore 81 - S.r.l.	Brescia (BS) - IT -	01663190179	Managing Director	Withdrawn	Ceased
Immobiliare Tre Stelle S.r.l.	Brescia (BS) - IT -	02801000171	Director	Active	Registered
Immobiliare Tre Stelle S.r.l.	Brescia (BS) - IT -	02801000171	Managing Director	Active	Registered
Dinema Computers Service - S.r.l.	Brescia (BS) - IT -	02952070171	Managing Director	Withdrawn	Ceased
Siderurgica Investimenti S.r.l.	Bedizzole (BS) - IT -	01531000980	Director	Withdrawn	Registered
Sud - Invest S.r.l.	Brescia (BS) - IT -	02943810172	Director	Withdrawn	Ceased
Iniziative 91 - S.r.l.	Brescia (BS) - IT -	01274530227	Managing Director	Withdrawn	Registered
S.f.i.m. Di Lonati Cav. Francesco E C. Societa' In Accomandita Semplice	Brescia (BS) - IT -	09166500158	Liquidator	Withdrawn	Registered
Nuova Rimach S.r.l.	Brescia (BS) - IT -	02935990172	Liquidator	Withdrawn	Ceased
Simtex S.r.l.	Brescia (BS) - IT -	03353960176	Liquidator	Withdrawn	Ceased
Prima E Associati S.r.l.	Torino (TO) - IT -	02795610019	Liquidator	Withdrawn	Ceased
Lonati Group Service S.r.l.	Brescia (BS) - IT -	02438680122	Director	Withdrawn	Registered
Lonati Group Service S.r.l.	Brescia (BS) - IT -	02438680122	Managing Director	Withdrawn	Registered
Eurotex Srl	Torino (TO) - IT -	07193380016	Liquidator	Withdrawn	Ceased
M.c.m. S.r.l.	Brescia (BS) - IT -	03453390175	Director	Withdrawn	Ceased
M.c.m. S.r.l.	Brescia (BS) - IT -	03453390175	Managing Director	Withdrawn	Ceased
Energia Libera Brescia Societa' ConsortiLe A Responsabilita' Limitata In Sigla	Brescia (BS) - IT -	03588010177	Director	Withdrawn	Registered
Morgante Srl	Brescia (BS) - IT -	03608180174	Director	Active	Registered
Morgante Srl	Brescia (BS) - IT -	03608180174	Managing Director	Active	Registered
Mil Meccanotessile Internazionale LonatiS.r.l.	Brescia (BS) - IT -	03556010175	Director	Withdrawn	Registered
Mil Meccanotessile Internazionale LonatiS.r.l.	Brescia (BS) - IT -	03556010175	Managing Director	Withdrawn	Registered
Expo Sviluppo S.r.l.	Brescia (BS) - IT -	02832430983	Director	Withdrawn	Registered
Immobiliare Costalunga	Brescia (BS) - IT -	00513800177	Sole Director	Withdrawn	Registered
Rosa Immobiliare S.r.l.	Bedizzole (BS) - IT -	02604470985	Sole Director	Withdrawn	Registered
Rosa Immobiliare S.r.l.	Bedizzole (BS) - IT -	02604470985	Sole partner	Withdrawn	Registered
Lonati Holding Srl	Brescia (BS) - IT -	03801910989	Director	Active	Registered

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Lonati

Andrea

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Lonati S.p.a.	Brescia (BS) - IT -	01469680175	Partner	Withdrawn	Registered
Tecnopea S.r.l.	Quinzano d'Oglio (BS) - IT -	00951760198	Director	Active	Registered
Lonati Holding Srl	Brescia (BS) - IT -	03801910989	Director	Active	Registered

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Lonati S.p.a.	Brescia - IT -	01469680175	39.770.000 .Eur	97,00
Immobiliare Tre Stelle S.r.l.	Brescia - IT -	02801000171	1.230.000 .Eur	3,00

Direct Participations

The Company under review has participations in the following Companies:

Firm's Style	Seat	Fiscal Code	Owned Shares Amount	% Ownership	since	until	Share Status
Tecnopea S.r.l.	Quinzano d'Oglio - IT -	00951760198	65.000 .Eur	65,00			Active
Next Technology Tecnotessile Societa' Na zionale Di Ricerca R.l.	Prato - IT -	00640450482	20.400 .Eur	3,15			Active
Energia Libera Brescia Societa' Consorti Le A Responsabilita' Limitata In Sigla	Brescia - IT -	03588010177	2.040 .Eur	11,11			Active
Csmt Gestione S.c.a.r.l.	Brescia - IT -	02835410982	8.750 .Eur	0,62			Active

Firm's location and structure

In order to carry out its activities the firm uses the following locations:

Legal and operative seat

since 14/09/1989

Carlo Fenzi

, 14

- 25100

- Brescia

(BS)

- IT -

PHONE

: 030376711

FAX

: 0303366478

Legal mail

: SANTONI@PEC.LONATIGROUP.IT

Branch

(Warehouse)

since 01/11/1999

S.eufemia

, 106/E

- 25100

- Brescia

(BS)

- IT -

Branch

(Store)

since 01/11/1999

Cossa

, 5/7

- 25100

- Brescia

(BS)

- IT -

Branch

(Showroom)

since 02/12/1999

Pietro Cossa

, 15

- 25100

- Brescia

(BS)

- IT -

Branch

(Workshop)

since 01/12/1999

San Polo

, 183

- 25100

- Brescia

(BS)

- IT -

Branch

(office)

since 01/02/2002

Cossa

, 10-12

- 25100

- Brescia

(BS)

- IT -

Branch

(Warehouse)

since 01/07/2005

Della Musia

, 50/52

- 25100

- Brescia

(BS)

- IT -

Branch

(Warehouse)

since 27/06/2007

Bormioli

, 60/62

- 25100

- Brescia

(BS)

- IT -

Employees

: 303

Fittings and Equipment for a value of 3.120.000

Eur

Stocks for a value of 38.770.000

Eur

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- its own agents

- direct orders from foreign companies

Export is mainly towards:

- Greece

- Ireland

Historical Information and/or Firm's Status

CEASINGS/INCORPORATIONS/MERGES:

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$ M.c.m. S.r.l.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Carlo Fenzi

, 14

, 25100

, Brescia

(BS)

- IT -

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Fiscal Code: 03453390175

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Date

Merging/splitting-up project:

04/10/2004

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$ M.c.m. S.r.l.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Carlo Fenzi

, 14

, 25100

, Brescia

(BS)

- IT -

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Fiscal Code: 03453390175

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Date

17/12/2004

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$ Sangiacomo S.p.a.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Bormioli

, 60/62

, 25100

, Brescia

(BS)

- IT -

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Fiscal Code: 02994150171

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Date

Merging/splitting-up project:

04/12/2006

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$ Sangiacomo S.p.a.

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Bormioli

, 60/62

, 25100

, Brescia

(BS)

- IT -

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Fiscal Code: 02994150171

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Vuoto.gif$

Date

27/06/2007

Protests

Protests checking on the subject firm has given a negative result.

Data Base Prejudicial Events Search

Search performed on a National Scale

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

Legal Procedures

None reported, standing to the latest received edition of the Official Publications.

National Real Estates Survey

The firm under review, by the reported percentages, owns the following real estates:

Town	Cadastre	No. Immovables	Up to Date
BRESCIA (BS)	Buildings	23	10/04/2018
BRESCIA (BS)	Land	11	10/04/2018
QUINZANO D'OGLIO (BS)	Land	3	10/04/2018

Buildings Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Categorie	Classe	Consistence	Cadastrial Rent	Part No.
B	Proprieta' per 1/1	BRESCIA (BS) VIA DELLA MUSIA, Piano T	CAI/6	1089	516	zona3 cat. C/3	7	258 mq	Euro:892,75
B	Proprieta' per 1/1	BRESCIA (BS) VIA PIETRO COSSA, Piano T-1	CAI/6	1089	521	zona3 cat. D/7			Euro: 12.974,00
B	Proprieta' per 1/1	BRESCIA (BS) VIA OTTORINO VILLA, 5 Piano T	NCT/175	106	8	cat. F/1
B	Proprieta' per 1/1	BRESCIA (BS) VIA ROMOLO GESSI, 106/B Piano T	NCT/224	181		zona3 cat. D/7			Euro: 5.528,00
B	Proprieta' per 1/1	BRESCIA (BS) VIA DELLA MUSIA, 44 Piano T-1 - 2	NCT/224	27	3	zona3 cat. A/2	4	9 vani	Euro:627,50
B	Proprieta' per 1/1	BRESCIA (BS) VIA PIETRO COSSA, 15 Piano T	NCT/224	27	4	zona3 cat. C/6	6	37 mq	Euro:80,26
B	Proprieta' per 1/1	BRESCIA (BS) VIA CARLO FENZI, 14 Piano S1-T - 1	NCT/224	27	8	zona3 cat. D/1			Euro: 144.787,90
B	Proprieta' per 1/1	BRESCIA (BS) VIALE SANT'EUFEMIA, 106/E Piano T-1	NCT/224	60	11	zona3 cat. D/7			Euro: 41.100,00
B	Proprieta' per 1/1	BRESCIA (BS) VIALE SANT'EUFEMIA, 106/E Piano T	NCT/224	60	12	zona3 cat. D/7			Euro: 820,00
B	Proprieta' per 1/1	BRESCIA (BS) VIA PARALLELA, 106 Piano T	NCT/224	69	4	zona3 cat. C/2	6	606 mq	Euro:1.314,49
B	Proprieta' per 1/1	BRESCIA (BS) VIA PARALLELA, 106 Piano S1-T - 1	NCT/224	69	5	zona3 cat. A/7	3	11 vani	Euro:1.079,39
B	Proprieta' per 1/1	BRESCIA (BS) VIA CARLO FENZI, 40 Piano T-S1	NCT/224	8	1	zona3 cat. A/2	4	6,5 vani	Euro:453,19
B	Proprieta' per 1/1	BRESCIA (BS) VIA CARLO FENZI, 40 Piano 1	NCT/224	8	2	zona3 cat. A/2	4	6,5 vani	Euro:453,19
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T	NCT/225	288	14	zona3 cat. D/1			Euro: 185,92
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano S1	NCT/225	288	29	zona3 cat. D/8			Euro: 3.569,66
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T	NCT/225	288	39	zona3 cat. D/7			Euro: 9.343,92
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T	NCT/225	288	40	zona3 cat. D/7			Euro: 19.813,00
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T-1	NCT/225	288	41	zona3 cat. D/7			Euro: 23.091,88
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano 3	NCT/225	288	42	zona3 cat. D/1			Euro: 74,40
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI (CAIONVICO), 60 Piano T-1 - 2	NCT/225	288	43	zona3 cat. B/5	2	23333 mc	Euro:14.460,59
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 62 Piano 2	NCT/225	288	6	zona3 cat. A/3	5	5 vani	Euro:322,79
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T	NCT/225	288	7	zona3 cat. D/1			Euro: 44,00
B	Proprieta' per 1/1	BRESCIA (BS) VIA GIOVANNI BORMIOLI, 60 Piano T	NCT/225	288	8	zona3 cat. D/1			Euro: 44,00

Land Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Category	Class	Consistence	Cadastrial Rent	Part No.
L	Proprieta' per 1/1	BRESCIA (BS)	222	36		SEMIN IRRIG	1	57 are 80 ca	R.D.Euro:56,72 (*) R.A. Euro: 59,70	455392
L	Proprieta' per 1/1	BRESCIA (BS)	222	49		VIGNETO	2	52 are 10 ca	R.D.Euro:72,65 R.A. Euro: 33,63
L	Proprieta' per 2/4	BRESCIA (BS)	222	50		VIGNETO	2	9 are 10 ca	R.D.Euro:12,69 R.A. Euro: 5,87	455393
L	Proprieta' per 1/1	BRESCIA (BS)	222	51		SEMIN IRRIG	1	21 are 40 ca	R.D.Euro:21,00 (*) R.A. Euro: 22,10	455391
L	Proprieta' per 2/4	BRESCIA (BS)	222	52		SEMIN IRRIG	1	18 are 70 ca	R.D.Euro:18,35 (*) R.A. Euro: 19,32	455394
L	Proprieta' per 1/1	BRESCIA (BS)	222	53		SEMIN IRRIG	1	43 are 20 ca	R.D.Euro:42,39 (*) R.A. Euro: 44,62	455391
L	Proprieta' per 2/4	BRESCIA (BS)	222	55		SEMIN IRRIG	1	7 are 40 ca	R.D.Euro:7,26 (*) R.A. Euro: 7,64	455394
L	Proprieta' per 1/1	BRESCIA (BS)	224	102		SEMIN IRRIG	2	50 are 20 ca	R.D.Euro:46,67 (*) R.A. Euro: 49,26	455534
L	Proprieta' per 1/1	BRESCIA (BS)	224	68		SEMIN IRRIG	2	68 are	R.D.Euro:63,21 (*) R.A. Euro: 66,73	455534
L	Proprieta' per 1/1	BRESCIA (BS)	225	289		SEMIN IRRIG	2	4 are 85 ca	R.D.Euro:4,63 (*) R.A. Euro: 4,76	451094
L	Proprieta' per 1/1	BRESCIA (BS)	225	291		SEMIN IRRIG	2	6 are 90 ca	R.D.Euro:6,59 (*) R.A. Euro: 6,77	449844
L	Proprieta' per 1/1	QUINZANO D'OGLIO (BS)	5	102		SEMIN IRRIG	1	1 ha 4 are	R.D.Euro:115,48 (*) R.A. Euro: 112,79
L	Proprieta' per 1/1	QUINZANO D'OGLIO (BS)	5	273		SEMIN IRRIG	1	32 are 40 ca	R.D.Euro:35,98 (*) R.A. Euro: 35,14
L	Proprieta' per 1/1	QUINZANO D'OGLIO (BS)	5	275		SEMIN IRRIG	1	1 ha 67 are 90 ca	R.D.Euro:186,43 (*) R.A. Euro: 182,10

All responsibilities are declined regarding any possible omissions concerning the given results. Therefore, we advise to request for "Hypothecating Survey Inspection" c/o the locally competent RR.II. Immovables Registry, as this service doesn't fully guarantees the actual title of the Real Estates of the requested Subject.

Financial and Economical Analysis

Company's starting of activities dates back to 1961.

An eco-fin analysis has been made on the base od the b/s fo the years 2014, 2015 and 2016.

During the last years the subject suffered net losses and in 2016 r.o.e. is -1,63%. The losses incurred were caused by the decrease in the turnover that marked the last financial years.

The operating result is negative.

The operating loss is equal to Eur. -938.115.

A gross operating margine for a value of Eur. 2.072.751 was reached. with a more then 100% increase as opposed to the preceding year.

Company's financial status is balanced since indebtedness is not high (1,34) and decreasing as against 2015.

Subject can manage an equity capital funds for an amount of Eur. 40.342.891 on stable levels.

During the last financial year total debts volume reached Eur. 60.819.449 (Eur. 6.699.164 were m/l term ones) whereas in the year before they amounted to Eur. 76.040.115, with a -20,01% drop.

The financial exposure is moderate, on the other hand the recourse to commercial credit is high, with a high average payment period even in comparison with the sector's.

Liquid assets are good.

Accounts receivable average term is high (229,19 days). and higher than the average of the sector.

2016 financial year closed with a cash flow of Eur. 2.353.758

Subordinate employment cost is of Eur. 16.222.503, i.e. 31,47% on total production costs. , whereas the incidence of such costs on sales revenues is equal to 39,45%.

The financial management is positive as incomes are higher than the charges.

Financial Data

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

Item Type	Value
Sales	41.122.238
Profit (Loss) for the period	-657.108

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

Item Type	Value
Sales	50.513.959
Profit (Loss) for the period	-4.898.897

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

Item Type	Value
Sales	51.513.284
Profit (Loss) for the period	-2.962.823

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

Item Type	Value
Sales	64.060.366
Profit (Loss) for the period	-115.024

$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

Item Type	Value
Sales	61.385.265
Profit (Loss) for the period	-2.391.735

Balance Sheets

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

- Balance Sheet as at 31/12/2016 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2015 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1

Years

2016

2015

2014

BALANCE SHEET ACCOUNTS

ASSETS
CREDITS VS PARTNERS
. Deposits not yet withdrawn
. Deposits already withdrawn
Total credits vs partners
FIXED ASSETS
. INTANGIBLE FIXED ASSETS
. . Start-up and expansion expenses
. . Research,develop. and advert.expens.	23.995	36.201	48.430
. . Industrial patent rights	515.872	704.516	747.521
. . Concessions,licenses,trademarks,etc.	6.056	14.694	19.673
. . Goodwill
. . Assets in formation and advance paymen.	34.600	31.200	221.820
. . Other intangible fixed assets	1.854	18.557	36.559
. Total Intangible Fixed Assets	582.377	805.168	1.074.003
. TANGIBLE FIXED ASSETS
. . Real estate	27.708.822	28.461.848	27.295.607
. . Plant and machinery	2.198.769	2.584.177	1.879.357
. . Industrial and commercial equipment	924.636	1.497.019	2.118.568
. . Other assets	343.761	472.947	578.179
. . Assets under construction and advances	84.920	1.971	13.109
. Total Tangible fixed assets	31.260.908	33.017.962	31.884.820
. FINANCIAL FIXED ASSETS
. . Equity investments	2.183.230	2.183.231	2.183.231
. . . Equity invest. in subsidiary companies	2.125.146	2.125.147	2.125.147
. . . Equity invest. in associated companies	465
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	57.619	58.084	58.084
. . Financial receivables
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivab due from subsidiaries
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from assoc.comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties
. . . . Within 12 months
. . . . Beyond 12 months
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	2.183.230	2.183.231	2.183.231
Total fixed assets	34.026.515	36.006.361	35.142.054
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables	22.701.604	27.761.202	28.643.046
. . Work in progress and semimanufactured	8.512.711	6.732.355	12.440.628
. . Work in progress on order
. . Finished goods	7.556.703	9.665.307	11.418.970
. . Advance payments
. Total Inventories	38.771.018	44.158.864	52.502.644
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	29.986.843	31.567.301	22.186.880
. . Beyond 12 months	2.529.174	4.994.002	5.463.692
. . Trade receivables	26.179.901	28.465.848	21.152.403
. . . . Within 12 months	23.870.540	23.869.754	16.160.422
. . . . Beyond 12 months	2.309.361	4.596.094	4.991.981
. . Receivables due from subsid. comp.	304	118.991	137.533
. . . . Within 12 months	304	118.991	137.533
. . . . Beyond 12 months
. . Receivables due from assoc. comp.	113.738
. . . . Within 12 months	113.738
. . . . Beyond 12 months
. . Receivables due from holding comp.	3.359.973	4.680.493	3.050.865
. . . . Within 12 months	3.140.160	4.460.680	2.831.052
. . . . Beyond 12 months	219.813	219.813	219.813
. . Fiscal Receivables	1.077.853	1.486.985	1.171.368
. . . . Within 12 months	1.077.853	1.486.985	1.171.368
. . . . Beyond 12 months
. . Receivables for anticipated taxes	1.616.332	1.641.781	1.506.744
. . . . Within 12 months	1.616.332	1.463.686	1.254.846
. . . . Beyond 12 months		178.095	251.898
. . Receivables due from third parties	167.916	167.205	631.659
. . . . Within 12 months	167.916	167.205	631.659
. . . . Beyond 12 months
. Total Credits not held as fixed assets	32.516.017	36.561.303	27.650.572
. FINANCIAL ASSETS
. . Equity invest. in subsidiary comp.
. . Equity invest. in associated companies
. . Equity invest. in holding companies
. . Other equity investments
. . Own shares
. . . Total nominale value
. . Other securities			711.459
. Total Financial Assets			711.459
. LIQUID FUNDS
. . Bank and post office deposits	53.345	134.344	30.953
. . Checks
. . Banknotes and coins	38.304	22.944	33.450
. Total Liquid funds	91.649	157.288	64.403
Total current assets	71.378.684	80.877.455	80.929.078
ADJUSTMENT ACCOUNTS
. Discount on loans		160.817	261.594
. Other adjustment accounts	121.736
Total adjustments accounts	121.736	160.817	261.594
TOTAL ASSETS	105.526.935	117.044.633	116.332.726

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	41.000.000	41.000.000	41.000.000
. Additional paid-in capital
. Revaluation reserves
. Legal reserve
. Reserve for Own shares
. Statute reserves
. Other reserves	-1	2	2.088.995
. Accumulated Profits (Losses)
. Profit( loss) of the year	-657.108	-4.898.897	-2.962.823
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	40.342.891	36.101.105	40.126.172
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.		137.037	137.037
. . Taxation fund, also differed
. . Other funds	395.345	431.595	344.648
Total Reserves for Risks and Charges	395.345	568.632	481.685
Employee termination indemnities	3.770.285	3.978.333	4.161.876
ACCOUNTS PAYABLE
. . . . Within 12 months	54.120.285	68.370.789	70.705.702
. . . . Beyond 12 months	6.699.164	7.669.326	289.281
. . Bonds
. . . . Within 12 months
. . . . Beyond 12 months
. . Convertible bonds repayable
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to shareholders for financing
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to banks	9.558.110	8.003.055	2.597
. . . . Within 12 months	2.891.443	447.499	2.597
. . . . Beyond 12 months	6.666.667	7.555.556
. . Due to other providers of finance	32.497
. . . . Within 12 months
. . . . Beyond 12 months	32.497
. . Advances from customers	805.493	438.123	1.157.256
. . . . Within 12 months	805.493	438.123	1.157.256
. . . . Beyond 12 months
. . Trade payables	10.607.908	14.481.727	15.663.662
. . . . Within 12 months	10.607.908	14.367.957	15.374.381
. . . . Beyond 12 months		113.770	289.281
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies	123.602	91.529	78.285
. . . . Within 12 months	123.602	91.529	78.285
. . . . Beyond 12 months
. . Due to associated companies	1.000.904
. . . . Within 12 months	1.000.904
. . . . Beyond 12 months
. . Due to holding companies	34.638.485	49.246.895	49.685.507
. . . . Within 12 months	34.638.485	49.246.895	49.685.507
. . . . Beyond 12 months
. . Due to the tax authorities	1.167.210	817.080	845.285
. . . . Within 12 months	1.167.210	817.080	845.285
. . . . Beyond 12 months
. . Due to social security and welfare inst.	1.167.710	997.680	1.191.154
. . . . Within 12 months	1.167.710	997.680	1.191.154
. . . . Beyond 12 months
. . Other payables	1.717.530	1.964.026	2.371.237
. . . . Within 12 months	1.717.530	1.964.026	2.371.237
. . . . Beyond 12 months
Total accounts payable	60.819.449	76.040.115	70.994.983
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts	198.965	356.448	568.010
Total adjustment accounts	198.965	356.448	568.010
TOTAL LIABILITIES	105.526.935	117.044.633	116.332.726

MEMORANDUM ACCOUNTS

Third party goods
Investment accounts		1.355.389
Risk accounts	5.805.616	5.581.872
Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	41.122.238	50.513.959	51.513.284
. Changes in work in progress	-328.248	-7.022.711	-1.376.207
. Changes in semi-manufact. products
. Capitalization of internal work	87.038	94.751	140.963
. Other income and revenues	9.725.738	8.362.886	7.485.400
. . Contributions for operating expenses	3.900	37.287	7.021
. . Different income and revenues	9.721.838	8.325.599	7.478.379
Total value of production	50.606.766	51.948.885	57.763.440
PRODUCTION COSTS
. Raw material,other materials and consum.	16.442.845	25.801.250	27.157.552
. Services received	9.543.638	10.543.497	11.041.965
. Leases and rentals	803.456	938.407	979.512
. Payroll and related costs	16.222.503	16.678.885	19.372.594
. . Wages and salaries	11.607.849	11.920.065	14.129.023
. . Social security contributions	3.776.612	3.850.084	4.306.790
. . Employee termination indemnities	809.348	876.896	901.677
. . Pension and similar
. . Other costs	28.694	31.840	35.104
. Amortization and depreciation	3.010.866	3.814.796	3.093.350
. . Amortization of intangible fixed assets	661.538	752.302	608.333
. . Amortization of tangible fixed assets	2.211.653	2.477.494	2.485.017
. . Depreciation of tangible fixed assets
. . Writedown of current receiv.and of liquid	137.675	585.000
. Changes in raw materials	5.059.598	1.321.069	-302.044
. Provisions to risk reserves
. Other provisions
. Other operating costs	461.975	485.597	775.081
Total production costs	51.544.881	59.583.501	62.118.010
Diff. between value and cost of product.	-938.115	-7.634.616	-4.354.570
FINANCIAL INCOME AND EXPENSE
. Income from equity investments	171.999	162.500
. . In subsidiary companies	171.999	162.500
. . In associated companies
. . In other companies
. Other financial income	205.982	436.058	222.430
. . Financ.income from receivables
. . . Towards subsidiary companies
. . . Towards associated companies
. . . Towards holding companies
. . . Towards other companies
. . Financ.income from secur. t.f.assets
. . Financ.income from secur. cur.assets		127.894
. . Financ.income other than the above	205.982	308.164	222.430
. . . - Subsidiary companies
. . . - Associated companies
. . . - Holding companies
. . . - Other companies	205.982	308.164	222.430
. Interest and other financial expense	-117.828	-50.445	-127.728
. . Towards subsidiary companies
. . Towards associated companies
. . Towards holding companies
. . Towards other companies
Total financial income and expense	260.153	548.113	94.702
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations			129.457
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets			129.457
. Devaluation
. . Of equity investments
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets			129.457
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income		44.359	116.706
. . Gains on disposals
. . Other extraordinary income		44.359	116.706
. Extraordinary expense
. . Losses on disposals
. . Taxes relating to prior years
. . Other extraordinary expense
Total extraordinary income and expense		44.359	116.706
Results before income taxes	-677.962	-7.042.144	-4.013.705
. Taxes on current income	-20.854	-2.143.247	-1.050.882
. . current taxes	11.720		264.714
. . differed taxes(anticip.)		-135.037	-748.546
. Net income for the period	-657.108	-4.898.897	-2.962.823
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	-657.108	-4.898.897	-2.962.823

RATIOS	Value Type	as at 31/12/2016	as at 31/12/2015	as at 31/12/2014	Sector Average
COMPOSITION ON INVESTMENT
Rigidity Ratio	Units	0,32	0,31	0,30	0,18
Elasticity Ratio	Units	0,68	0,69	0,70	0,80
Availability of stock	Units	0,37	0,38	0,45	0,24
Total Liquidity Ratio	Units	0,31	0,31	0,24	0,48
Quick Ratio	Units	0,00	0,00	0,01	0,03
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	1,34	1,89	1,76	3,25
Self Financing Ratio	Units	0,38	0,31	0,34	0,19
Capital protection Ratio	Units	0,00	0,00	0,05	0,63
Liabilities consolidation quotient	Units	0,19	0,17	0,06	0,19
Financing	Units	1,51	2,11	1,77	3,80
Permanent Indebtedness Ratio	Units	0,48	0,41	0,38	0,36
M/L term Debts Ratio	Units	0,10	0,10	0,04	0,11
Net Financial Indebtedness Ratio	Units	0,24	0,22	0,00	0,63
CORRELATION
Fixed assets ratio	Units	1,49	1,33	1,27	1,75
Current ratio	Units	1,32	1,18	1,14	1,21
Acid Test Ratio-Liquidity Ratio	Units	0,60	0,54	0,40	0,81
Structure's primary quotient	Units	1,19	1,00	1,14	1,03
Treasury's primary quotient	Units	0,00	0,00	0,01	0,06
Rate of indebtedness ( Leverage )	%	261,58	324,21	289,92	516,42
Current Capital ( net )	Value	17.258.399	12.506.666	10.223.376	422.465
RETURN
Return on Sales	%	5,72	-2,15	0,25	3,35
Return on Equity - Net- ( R.O.E. )	%	-1,63	-13,57	-7,38	5,13
Return on Equity - Gross - ( R.O.E. )	%	-1,68	-19,51	-10,00	14,77
Return on Investment ( R.O.I. )	%	-0,89	-6,52	-3,74	4,16
Return/ Sales	%	-2,28	-15,11	-8,45	4,11
Extra Management revenues/charges incid.	%	n.c.	n.c.	n.c.	28,57
Cash Flow	Value	2.353.758	-1.084.101	130.527	122.482
Operating Profit	Value	-938.115	-7.634.616	-4.354.570	144.752
Gross Operating Margin	Value	2.072.751	-3.819.820	-1.261.220	241.990
MANAGEMENT
Credits to clients average term	Days	229,19	202,87	147,82	111,85
Debts to suppliers average term	Days	623,13	616,24	601,19	128,30
Average stock waiting period	Days	339,42	314,71	366,91	80,43
Rate of capital employed return ( Turnover )	Units	0,39	0,43	0,44	1,08
Rate of stock return	Units	1,06	1,14	0,98	4,45
Labour cost incidence	%	39,45	33,02	37,61	19,12
Net financial revenues/ charges incidence	%	0,63	1,09	0,18	-1,08
Labour cost on purchasing expenses	%	31,47	27,99	31,19	19,02
Short-term financing charges	%	0,19	0,07	0,18	2,68
Capital on hand	%	256,62	231,71	225,83	91,91
Sales pro employee	Value	81.269	96.955	85.145	198.432
Labour cost pro employee	Value	32.060	32.013	32.020	35.779

Remarks

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

Market / Territory Data

Population living in the province	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 1.169.259
Population living in the region	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 9.393.092
Number of families in the region	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 3.858.736

Monthly family expences average in the region (in Eur..) :

- per food products	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 460
- per non food products	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 2.090
- per energy consume	:	$Description: \\vivek-pc\e\Santoni S.p.a. - Vs. Rif. 503589_files\Spazio.gif$ 114

Sector Data

The values are calculated on a base of 1.206 significant companies.

The companies cash their credits on an average of 112 dd.

The average duration of suppliers debts is about 128 dd.

The sector's profitability is on an average of 3,35%.

The labour cost affects the turnover in the measure of 19,12%.

Goods are held in stock in a range of 80 dd.

The difference between the sales volume and the resources used to realize it is about 1,08.

The employees costs represent the 19,02% of the production costs.

Statistical Detrimental Data

Statistcally the trade activity shows periods of crisis.

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 5.551.

The insolvency index for the region is 0,55, , while for the province it is 0,48.

Total Bankrupt companies in the province : 3.452.

Total Bankrupt companies in the region : 39.612.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46
Euro	1	INR 81.52

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

Company name and address

Summary

Activity

Legal Data

Members

Companies connected to members *

Capital Shareholders

Direct Participations

Firm's location and structure

Historical Information and/or Firm's Status

Protests

Data Base Prejudicial Events Search

Legal Procedures

Financial and Economical Analysis

Financial Data

Balance Sheets

Remarks

Market / Territory Data

Sector Data

Statistical Detrimental Data

Unit