3decades

MIRA INFORM REPORT

Report No. :	492902
Report Date :	20.02.2018

IDENTIFICATION DETAILS

Name :	LU-VE - S.P.A.

Registered Office :	Via Vittorio Veneto, 11 , 21100 - Varese (VA) -IT-

Country :	Italy

Financials (as on) :	31.12.2016

Date of Incorporation :	16.10.1985

Legal Form :	Joint stock company

Line of Business :	· Manufacture of electronic components and boards · Manufacture of non-electric domestic appliances

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 :	Good

Payment Behaviour :	Regular

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 records. 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

Lu-ve - S.p.a.

Via Vittorio Veneto, 11

21100 - Varese (VA) -IT-

Summary

Fiscal Code	:	01570130128
Legal Form	:	Joint stock company
start of Activities	:	04/12/1985
Equity	:	Over 2.582.254
Turnover Range	:	50.000.000/75.000.000
Number of Employees	:	from 251 to 500

Activity

Manufacture of electronic components and boards

Manufacture of non-electric domestic appliances

Legal Data

Legal Form : Joint stock company

Fiscal Code : 01570130128

Foreign Trade Reg. no. : VA018757 since 17/01/1992

Foreign Trade Reg. no. : 018757 of Varese since 17/01/1992

Chamber of Commerce no. : 191975 of Varese since 04/12/1985

Firms' Register : VA133-13942 of Varese since 19/02/1996

V.A.T. Code : 01570130128

Tribunal Co. Register : 13942 of

Foundation date	: 16/10/1985
Establishment date	: 16/10/1985
Start of Activities	: 04/12/1985
Legal duration	: 31/12/2050
Nominal Capital	: 62.704.488
Subscribed Capital	: 62.704.488
Paid up Capital	: 62.704.488

Legal mail :

LUVE@LEGALMAIL.IT

Members

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Liberali

Iginio

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Pavia

(PV)

on 19/09/1931

- Fiscal Code : LBRGNI31P19G388Q

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Vittadini

, 4

- 27100

Pavia

(PV)

- IT -

Position	Since	Shares Amount	% Ownership
Board Chairman	10/03/2017
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Gervasoni

Anna

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Milano

(MI)

on 18/08/1961

- Fiscal Code : GRVNNA61M58F205A

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Faggioli

Michele

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Torino

(TO)

on 27/07/1967

- Fiscal Code : FGGMHL67L27L219B

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Cane' Centro

, 79

- 32020

Limana

(BL)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017
Managing Director	13/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Liberali

Matteo

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Pavia

(PV)

on 21/03/1968

- Fiscal Code : LBRMTT68C21G388Y

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Campari

, 6

- 27100

Pavia

(PV)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017
Managing Director	13/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Arietti

Attilio Francesco

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Torino

(TO)

on 02/06/1950

- Fiscal Code : RTTTLF50H02L219M

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Venti Settembre

, 3

- 10121

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Cavallini

Giovanni

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Milano

(MI)

on 28/12/1950

- Fiscal Code : CVLGNN50T28F205K

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Venti Settembre

, 3

- 10121

Torino

(TO)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Faggioli

Pier Luigi

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Ferrara

(FE)

on 28/12/1936

- Fiscal Code : FGGPLG36T28D548Q

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Degli Alpini

, 5

- 32020

Limana

(BL)

- IT -

Position	Since	Shares Amount	% Ownership
Assistant board Chairman	10/03/2017
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Liberali

Fabio

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Pavia

(PV)

on 28/09/1963

- Fiscal Code : LBRFBA63P28G388W

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Garulli

Michele

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Como

(CO)

on 26/04/1959

- Fiscal Code : GRLMHL59D26C933Z

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Vitale

Marco Claudio

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Brescia

(BS)

on 01/08/1935

- Fiscal Code : VTLMCC35M01B157B

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Amedei

, 8

- 20123

Milano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Macchi

Eligio

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Gallarate

(VA)

on 23/11/1967

- Fiscal Code : MCCLGE67S23D869R

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Manager	15/05/2003
Attorney with special power	26/07/2011

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Ferrandi

Alessandro

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Bollate

(MI)

on 05/12/1954

- Fiscal Code : FRRLSN54T05A940O

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	21/04/2015

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Nigri

Francesco

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Bergamo

(BG)

on 06/01/1977

- Fiscal Code : NGRFNC77A06A794G

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	18/07/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Pierantoni

Roberta

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Urbania

(PS)

on 12/05/1971

- Fiscal Code : PRNRRT71E52L498N

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Paleari

Stefano

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Milano

(MI)

on 24/01/1965

- Fiscal Code : PLRSFN65A24F205R

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Oliva

Laura

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Rimini

(FO)

on 27/12/1968

- Fiscal Code : LVOLRA68T67H294P

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazioni

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	10/03/2017

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Poggiato

Nelson

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Thiene

(VI)

on 22/12/1964

- Fiscal Code : PGGNSN64T22L157F

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	21/04/2015

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Borsani

Paolo

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Pavia

(PV)

on 12/10/1978

- Fiscal Code : BRSPLA78R12G388X

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Caduti Della Liberazione

, 53

- 21040

Uboldo

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	02/08/2016

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Borroni

Angelo

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Born in Legnano

(MI)

on 23/07/1957

- Fiscal Code : BRRNGL57L23E514U

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Residence:

Santissima Trinita'

, 67

- 28040

Varallo Pombia

(NO)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	28/10/2016

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

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.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Liberali

Iginio

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Director	Withdrawn	Ceased
Bonferraro - S.p.a.	Sorga' (VR) - IT -	01402930356	Director	Withdrawn	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Director	Active	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Managing Director	Withdrawn	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Director	Withdrawn	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Board Chairman	Withdrawn	Registered
Smeg S.p.a.	Guastalla (RE) - IT -	07947760158	Director	Withdrawn	Registered
Finami S.p.a.	Milano (MI) - IT -	08408810151	Managing Director	Active	Registered
Finami S.p.a.	Milano (MI) - IT -	08408810151	Director	Active	Registered
Finami S.p.a.	Milano (MI) - IT -	08408810151	Board Chairman	Active	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	Director	Active	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	General Partner	Withdrawn	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	Acting partner (in work)	Withdrawn	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	Board Chairman	Active	Registered
Roal Electronics S.p.a.	Castelfidardo (AN) - IT -	01308950433	Board Chairman	Withdrawn	Ceased
Alia Sud - Societa' Per Azioni	Comunanza (AP) - IT -	00105600449	Procurator	Withdrawn	Ceased
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Director	Active	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Assistant board Chairman	Active	Registered
Glass Technologies Lucky Venture S.r.l.In Forma Abbreviata Glastec Lv S.r.l.	Busto Arsizio (VA) - IT -	03097270122	Sole Director	Withdrawn	Registered
SEST-LUVE POLSKA SP ZOO	Gliwice - PL -	98067	Director	Withdrawn	Registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Faggioli

Michele

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Director	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Procurator	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Assistant General Manager	Withdrawn	Ceased
Sest S.p.a.	Limana (BL) - IT -	00776800252	Managing Director	Withdrawn	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Director	Active	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	General Director	Withdrawn	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Assistant Manager	Withdrawn	Registered
Certottica S.c. R.l.	Longarone (BL) - IT -	00790870257	Director	Withdrawn	Registered
Reviviscar S.r.l.	Belluno (BL) - IT -	00215820259	Director	Withdrawn	Registered
Imap S.r.l.	Sedico (BL) - IT -	00724150255	Director	Active	Registered
Sab S.r.l.	San Gregorio nelle Alpi (BL) - IT -	00911470250	Managing Director	Withdrawn	Ceased
Sab S.r.l.	San Gregorio nelle Alpi (BL) - IT -	00911470250	Director	Withdrawn	Ceased
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Director	Active	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Managing Director	Active	Registered
Consorzio Bellunese Per Lo Sviluppo D'impresa	Belluno (BL) - IT -	01049390253	Memb. of the Steering Committee	Withdrawn	Registered
SEST-LUVE POLSKA SP ZOO	Gliwice - PL -	98067	Vice-Chairman	Active	Registered
Fazenda Dolomiti Srl	Belluno (BL) - IT -	01109240257	Director	Withdrawn	Registered
Fimaan Srl	Limana (BL) - IT -	01134530250	Sole Director	Active	Registered
Fimaan Srl	Limana (BL) - IT -	01134530250	Sole partner	Active	Registered
G4 Srl	Belluno (BL) - IT -	01160530257	Sole Director	Active	Registered
Manifold S.r.l.	Uboldo (VA) - IT -	03535370120	Sole Director	Active	Registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Liberali

Matteo

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Director	Withdrawn	Ceased
Sest S.p.a.	Limana (BL) - IT -	00776800252	Director	Active	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Managing Director	Withdrawn	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Director	Active	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Managing Director	Withdrawn	Registered
Tecnair Lv S.p.a.	Uboldo (VA) - IT -	00836990150	Board Chairman	Active	Registered
Finami S.p.a.	Milano (MI) - IT -	08408810151	Managing Director	Active	Registered
Finami S.p.a.	Milano (MI) - IT -	08408810151	Director	Active	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	Director	Active	Registered
Libefin S.r.l.	Milano (MI) - IT -	10256880153	General Partner	Withdrawn	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Director	Active	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Managing Director	Active	Registered
Metalluve S.r.l.	Uboldo (VA) - IT -	02827810124	Director	Withdrawn	Merged
Metalluve S.r.l.	Uboldo (VA) - IT -	02827810124	Board Chairman	Withdrawn	Merged
LU-VE SWEDEN	Asarum - SE -	5568691322	Director	Active	Registered
Luvedigital S.r.l.	Uboldo (VA) - IT -	03523020125	Director	Active	Registered
Luvedigital S.r.l.	Uboldo (VA) - IT -	03523020125	Managing Director	Active	Registered

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Faggioli

Pier Luigi

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Managing Director	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Director	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Sole Director	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	General Director	Withdrawn	Ceased
S.e.s.t. S.r.l.	Limana (BL) - IT -	00132040254	Board Chairman	Withdrawn	Ceased
Sest S.p.a.	Limana (BL) - IT -	00776800252	Managing Director	Active	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Director	Active	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	General Director	Withdrawn	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Managing Director	Withdrawn	Registered
Sest S.p.a.	Limana (BL) - IT -	00776800252	Board Chairman	Active	Registered
Sab S.r.l.	San Gregorio nelle Alpi (BL) - IT -	00911470250	Managing Director	Withdrawn	Ceased
Sab S.r.l.	San Gregorio nelle Alpi (BL) - IT -	00911470250	Director	Withdrawn	Ceased
Sab S.r.l.	San Gregorio nelle Alpi (BL) - IT -	00911470250	Board Chairman	Withdrawn	Ceased
Costan - S.p.a.	Limana (BL) - IT -	00112990254	Attorney with special power	Withdrawn	Ceased
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Director	Active	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Managing Director	Active	Registered
Thermo Glass Door S.p.a. - In Forma Abbreviata Tgd S.p.a.	Milano (MI) - IT -	13008130158	Board Chairman	Active	Registered
SEST-LUVE POLSKA SP ZOO	Gliwice - PL -	98067	Chairman	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
Finami S.p.a.	Milano - IT -	08408810151
G4 Srl	Belluno - IT -	01160530257

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
Sest S.p.a.	Limana - IT -	00776800252	1.000.000 .Eur	100,00			Active
Tecnair Lv S.p.a.	Uboldo - IT -	00836990150	159.800 .Eur	79,90			Active
Industria E Universita' S.r.l.	Varese - IT -	01930490121	5.100 .Eur	0,03			Active
Manifold S.r.l.	Uboldo - IT -	03535370120	9.900 .Eur	99,00			Active
Luvedigital S.r.l.	Uboldo - IT -	03523020125	5.000 .Eur	50,00			Active

Firm's location and structure

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

Legal and operative seat

Vittorio Veneto

, 11

- 21100

- Varese

(VA)

- IT -

PHONE

: 0296716

PHONE

: 0296716270

FAX

: 0296780560

Legal mail

: LUVE@LEGALMAIL.IT

Branch

since 30/12/1985

Caduti Della Liberazione

, 53

- 21040

- Uboldo

(VA)

- IT -

PHONE

: 0296716270

Branch

(Warehouse)

since 04/01/2017

Achille Grandi

, 5

- 21040

- Origgio

(VA)

- IT -

Employees

: 355

Fittings and Equipment for a value of 6.020.000

Eur

Stocks for a value of 6.070.000

Eur

Furniture and fittings for a value of 110.000

Eur

Vehicles for a value of 77.000

Eur

Trade organization: direct or by agents.

The company sells in Italy and abroad.

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents more than 50% of the global turnover.

Products abroad are placed by :

- importers

Import comes generally from the following nations:

- France

- Germany

- Great Britain

- Greece

Export is mainly towards:

- Italy

- France

- Austria

- Poland

- Hungary

- Bulgaria

Historical Information and/or Firm's Status

CHANGES TO THE LEGAL FORM:

Former legal form	New legal form	Changement Date
Limited liability company	Joint stock company	28/11/1985

CEASINGS/INCORPORATIONS/MERGES:

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm took over the activity of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Contardo S.p.A.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

16/10/1985

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorved

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ "Gentilion S.R.L."

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

CADUTI DELLA LIBERAZIONE

, 53

, 21040

, Uboldo

(VA)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 04243000157

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

15/12/1999

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ "Gentilion S.R.L."

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

CADUTI DELLA LIBERAZIONE

, 53

, 21040

, Uboldo

(VA)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 04243000157

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

Merging/splitting-up project:

02/12/1998

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ "Gentilion S.R.L."

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

CADUTI DELLA LIBERAZIONE

, 53

, 21040

, Uboldo

(VA)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 04243000157

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

15/12/1999

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Europarts S.R.L.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 13248840152

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

Merging/splitting-up project:

27/06/2008

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Europarts S.R.L.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 13248840152

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

25/07/2008

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Europarts S.R.L.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 13248840152

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

23/10/2008

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Industrial Stars Of Italy S.p.a.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Senato

, 20

, 20121

, Milano

(MI)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 08240870967

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

Merging/splitting-up project:

23/03/2015

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Industrial Stars Of Italy S.p.a.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Senato

, 20

, 20121

, Milano

(MI)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 08240870967

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

09/07/2015

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Metalluve S.r.l.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Caduti Della Liberazione

, 53

, 21040

, Uboldo

(VA)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 02827810124

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

Merging/splitting-up project:

20/10/2015

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$ Metalluve S.r.l.

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Caduti Della Liberazione

, 53

, 21040

, Uboldo

(VA)

- IT -

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Fiscal Code: 02827810124

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Vuoto.gif$

Date

22/02/2016

Protests

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

Data Base Prejudicial Events Search

Search performed on a National Scale

$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Verde.gif$

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
ORIGGIO (VA)	Land	3	14/02/2018
UBOLDO (VA)	Buildings	11	14/02/2018
UBOLDO (VA)	Land	12	14/02/2018

Buildings Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Categorie	Classe	Consistence	Cadastrial Rent	Part No.
B	Proprieta' per 1/1	UBOLDO (VA) VIA CADUTI LIBERAZIONE, 53 Piano T	13	868	502	cat. D/1			Euro: 6.870,00
B	Proprieta' per 1/1	UBOLDO (VA) VIA CADUTI LIBERAZIONE, 53 Piano T	13	868	503	cat. D/1			Euro: 69,00
B	Proprieta' per 1/1	UBOLDO (VA) VIA CADUTI LIBERAZIONE, 53 Piano T	13	868	504	cat. D/1			Euro: 44,00
B	Proprieta' per 1/1	UBOLDO (VA) VIA CADUTI LIBERAZIONE, 53 Piano S1-T - 1	13	868	505	cat. D/1			Euro: 230.826,00
B	Proprieta' per 1/1	UBOLDO (VA) VIA CADUTI LIBERAZIONE, 53 Piano T	13	9301	501	cat. D/1			Euro: 123.405,00
B	Proprieta' per 1/1	UBOLDO (VA) VIA GALILEO GALILEI, 148/B Piano 2-S1	8	8480	16	cat. A/2	2	5,5 vani	Euro:497,09
B	Proprieta' per 1/1	UBOLDO (VA) VIA GALILEO GALILEI, SNC Piano S1	8	8480	30	cat. C/6	5	15 mq	Euro:33,31	1001948
B	Proprieta' per 1/1	UBOLDO (VA) VIA GALILEO GALILEI, Piano T-S1	8	8872	8	cat. A/2	2	3,5 vani	Euro:316,33	1002139
B	Proprieta' per 1/1	UBOLDO (VA) VIA QUATTRO NOVEMBRE, SNC Piano S1	9	9425	13	cat. C/6	6	13 mq	Euro:34,24
B	Proprieta' per 1/1	UBOLDO (VA) VIA QUATTRO NOVEMBRE, SNC Piano S1	9	9425	22	cat. C/2	5	2 mq	Euro:2,48
B	Proprieta' per 1/1	UBOLDO (VA) VIA QUATTRO NOVEMBRE, SNC Piano 3	9	9425	68	cat. A/2	3	2,5 vani	Euro:264,68

Land Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Category	Class	Consistence	Cadastrial Rent	Part No.
L	Proprieta' per 1/1	ORIGGIO (VA)	9	1018		SEMIN ARBOR	3	58 are 20 ca	R.D.Euro:30,06 R.A. Euro: 28,55	4094
L	Proprieta' per 1/1	ORIGGIO (VA)	9	1023		SEMIN ARBOR	3	23 are 50 ca	R.D.Euro:12,14 R.A. Euro: 11,53	4094
L	Proprieta' per 1/1	ORIGGIO (VA)	9	320		BOSCO CEDUO	U	16 are 30 ca	R.D.Euro:4,21 R.A. Euro: 0,51	4094
L	Proprieta' per 1/1	UBOLDO (VA)	9	10179		RELIT STRAD		7 are	R.D.Euro: R.A. Euro:
L	Proprieta' per 108/108	UBOLDO (VA)	9	2523		SEMIN ARBOR	3	43 are 80 ca	R.D.Euro:26,01 R.A. Euro: 22,62	4444
L	Proprieta' per 1/1	UBOLDO (VA)	9	2524		SEMIN ARBOR	3	24 are 90 ca	R.D.Euro:14,79 R.A. Euro: 12,86	3626
L	Proprieta' per 1/1	UBOLDO (VA)	9	2525		SEMIN ARBOR	3	15 are 90 ca	R.D.Euro:9,44 R.A. Euro: 8,21	7373
L	Proprieta' per 1000/1000	UBOLDO (VA)	9	2526		SEMIN ARBOR	3	31 are	R.D.Euro:18,41 R.A. Euro: 16,01	7373
L	Proprieta' per 1/1	UBOLDO (VA)	9	3936		SEMIN ARBOR	3	43 are 70 ca	R.D.Euro:25,95 R.A. Euro: 22,57	4018
L	Proprieta' per 1000/1000	UBOLDO (VA)	9	4403		SEMIN ARBOR	3	31 are	R.D.Euro:18,41 R.A. Euro: 16,01	7373
L	Proprieta' per 1/1	UBOLDO (VA)	9	4643		SEMIN ARBOR	3	16 are	R.D.Euro:9,50 R.A. Euro: 8,26	7373
L	Proprieta' per 1/1	UBOLDO (VA)	9	5405		SEMIN ARBOR	3	24 are 80 ca	R.D.Euro:14,73 R.A. Euro: 12,81	3626
L	Proprieta' per 1/1	UBOLDO (VA)	9	8220		SEMIN ARBOR	3	13 are 47 ca	R.D.Euro:8,00 R.A. Euro: 6,96	2011
L	Proprieta' per 1/1	UBOLDO (VA)	9	8221		SEMIN ARBOR	3	13 are 45 ca	R.D.Euro:7,99 R.A. Euro: 6,95	2011
L	Proprieta' per 5558/100000	UBOLDO (VA)	9	8874		SEMIN ARBOR	2	98 ca	R.D.Euro:0,68 R.A. Euro: 0,66	7309

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

Subject is active since 1985

The eonomic-financial analysis is based on the latest 3 b/s.

During the last years, it achieved profits (r.o.e. 6,39% on 2016) but without a significant increase in the turnover.

The operating result was positive in the last financial year (0,12%) and in line with the sector's average.

The amount of the operating result for the year 2016 is of Eur. 364.000 with a -82,12% drop.

A gross operating margine for a value of Eur. 6.934.000 was reached. on the same levels as the previous financial year.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,64 increasing compared to last year (0,38)

With regard to equity capital, an amount of Eur. 113.330.000 is registered. , unchanged as opposed to the preceding year.

In the year 2016 total debts amounted to Eur. 191.863.000 , showing an upward trend if compared to 2015.

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.

Liquidity is however good.

Trade credits average terms are slow, on average 151,47 days. even higher than the average of the specific sector.

Eur. 13.813.000 is the value of cash flow during the year 2016

In the last financial year labour cost was of Eur. 15.162.000, with a 21,3% incidence on total costs of production. , whereas the incidence of such costs on sales revenues is equal to 21,29%.

Financial incomes cover financial charges.

Financial Data

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Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

Item Type	Value
Sales	71.229.000
Profit (Loss) for the period	7.243.000

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Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

Item Type	Value
Sales	67.220.000
Profit (Loss) for the period	4.933.000

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Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

Item Type	Value
Sales	65.525.467
Profit (Loss) for the period	3.238.757

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Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

Item Type	Value
Sales	67.469.550
Profit (Loss) for the period	1.728.030

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Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

Item Type	Value
Sales	68.509.515
Profit (Loss) for the period	2.256.860

Financials

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.	1.582.000	1.625.000
. . Industrial patent rights
. . Concessions,licenses,trademarks,etc.			6.412.262
. . Goodwill	19.466.000	20.123.000	13.074.923
. . Assets in formation and advance paymen.			305.000
. . Other intangible fixed assets	962.000	275.000
. Total Intangible Fixed Assets	22.010.000	22.023.000	19.792.185
. TANGIBLE FIXED ASSETS
. . Real estate	30.779.000	30.975.000	27.195.350
. . Plant and machinery	6.023.000	6.189.000	5.678.122
. . Industrial and commercial equipment			394.148
. . Other assets	1.822.000	1.837.000	275.440
. . Assets under construction and advances	969.000	429.000	216.149
. Total Tangible fixed assets	39.593.000	39.430.000	33.759.209
. FINANCIAL FIXED ASSETS
. . Equity investments	58.675.000	55.188.000	55.869.720
. . . Equity invest. in subsidiary companies	58.669.000	55.182.000	55.864.451
. . . Equity invest. in associated companies
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	6.000	6.000	5.269
. . Financial receivables	48.838.000	14.107.000	11.891.567
. . . . Within 12 months
. . . . Beyond 12 months	48.838.000	14.107.000	11.891.567
. . . Receivab due from subsidiaries			11.891.567
. . . . Within 12 months
. . . . Beyond 12 months			11.891.567
. . . Receivables due from assoc.comp.	48.424.000	13.452.000
. . . . Within 12 months
. . . . Beyond 12 months	48.424.000	13.452.000
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties	414.000	655.000
. . . . Within 12 months
. . . . Beyond 12 months	414.000	655.000
. . Other securities
. . Own shares	992.000	462.000
. . . Total nominal value
. Total financial fixed assets	108.505.000	69.757.000	67.761.287
Total fixed assets	170.108.000	131.210.000	121.312.681
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables	4.214.000	2.382.000	1.859.395
. . Work in progress and semimanufactured	945.000	2.363.000	2.079.834
. . Work in progress on order
. . Finished goods	909.000	1.047.000	1.505.512
. . Advance payments
. Total Inventories	6.068.000	5.792.000	5.444.741
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	79.130.000	77.078.000	31.220.766
. . Beyond 12 months	1.453.000	657.000	649.737
. . Trade receivables	29.970.000	27.368.000	9.217.234
. . . . Within 12 months	29.970.000	27.368.000	9.217.234
. . . . Beyond 12 months
. . Receivables due from subsid. comp.	6.085.000	6.619.000	19.329.904
. . . . Within 12 months	6.085.000	6.619.000	19.329.904
. . . . 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
. . Fiscal Receivables	2.210.000	2.565.000	2.086.684
. . . . Within 12 months	2.210.000	2.565.000	1.436.947
. . . . Beyond 12 months			649.737
. . Receivables for anticipated taxes	1.453.000	657.000	883.214
. . . . Within 12 months			883.214
. . . . Beyond 12 months	1.453.000	657.000
. . Receivables due from third parties	40.865.000	40.526.000	353.467
. . . . Within 12 months	40.865.000	40.526.000	353.467
. . . . Beyond 12 months
. Total Credits not held as fixed assets	80.583.000	77.735.000	31.870.503
. 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	34.703.000	25.203.000
. Total Financial Assets	34.703.000	25.203.000
. LIQUID FUNDS
. . Bank and post office deposits			12.704.806
. . Checks
. . Banknotes and coins			8.223
. Total Liquid funds	24.627.000	36.517.000	12.713.029
Total current assets	145.981.000	145.247.000	50.028.273
ADJUSTMENT ACCOUNTS
. Discount on loans			911.933
. Other adjustment accounts
Total adjustments accounts			911.933
TOTAL ASSETS	316.089.000	276.457.000	172.252.887

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	62.496.000	62.496.000	10.945.800
. Additional paid-in capital	24.762.000	24.762.000	24.762.200
. Revaluation reserves			273.366
. Legal reserve	2.004.000	1.758.000	1.595.722
. Reserve for Own shares
. Statute reserves
. Other reserves	16.825.000	16.449.000	11.323.345
. Accumulated Profits (Losses)
. Profit( loss) of the year	7.243.000	4.933.000	3.238.757
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	113.330.000	110.398.000	52.139.190
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.
. . Taxation fund, also differed	8.953.000	8.325.000	9.297.418
. . Other funds	951.000	967.000	1.009.000
Total Reserves for Risks and Charges	9.904.000	9.292.000	10.306.418
Employee termination indemnities	992.000	980.000	1.010.098
ACCOUNTS PAYABLE
. . . . Within 12 months	96.840.000	78.111.000	68.267.949
. . . . Beyond 12 months	95.023.000	77.676.000	40.367.590
. . 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	130.970.000	91.491.000	55.541.023
. . . . Within 12 months	35.959.000	13.879.000	15.173.433
. . . . Beyond 12 months	95.011.000	77.612.000	40.367.590
. . Due to other providers of finance	716.000	1.216.000
. . . . Within 12 months	704.000	1.152.000
. . . . Beyond 12 months	12.000	64.000
. . Advances from customers
. . . . Within 12 months
. . . . Beyond 12 months
. . Trade payables	20.746.000	22.774.000	17.407.655
. . . . Within 12 months	20.746.000	22.774.000	17.407.655
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies			29.945.565
. . . . Within 12 months			29.945.565
. . . . Beyond 12 months
. . Due to associated companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to holding companies	33.652.000	36.099.000
. . . . Within 12 months	33.652.000	36.099.000
. . . . Beyond 12 months
. . Due to the tax authorities	624.000	524.000	587.629
. . . . Within 12 months	624.000	524.000	587.629
. . . . Beyond 12 months
. . Due to social security and welfare inst.			1.117.133
. . . . Within 12 months			1.117.133
. . . . Beyond 12 months
. . Other payables	5.155.000	3.683.000	4.036.534
. . . . Within 12 months	5.155.000	3.683.000	4.036.534
. . . . Beyond 12 months
Total accounts payable	191.863.000	155.787.000	108.635.539
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts			161.642
Total adjustment accounts			161.642
TOTAL LIABILITIES	316.089.000	276.457.000	172.252.887

MEMORANDUM ACCOUNTS

Third party goods
Investment accounts			34.216.739
Risk accounts			5.619.093
Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	71.229.000	67.220.000	65.525.467
. Changes in work in progress			628.911
. Changes in semi-manufact. products
. Capitalization of internal work
. Other income and revenues	306.000	605.000	1.839.785
. . Contributions for operating expenses
. . Different income and revenues	306.000	605.000	1.839.785
Total value of production	71.535.000	67.825.000	67.994.163
PRODUCTION COSTS
. Raw material,other materials and consum.	33.388.000	32.685.000	32.623.773
. Services received	13.848.000	12.817.000	12.742.214
. Leases and rentals	535.000	545.000	606.056
. Payroll and related costs	15.162.000	13.554.000	14.161.324
. . Wages and salaries	10.937.000	9.466.000	10.227.064
. . Social security contributions	3.497.000	3.124.000	3.298.115
. . Employee termination indemnities			636.145
. . Pension and similar
. . Other costs	728.000	964.000
. Amortization and depreciation	6.570.000	5.344.000	5.141.813
. . Amortization of intangible fixed assets	624.000	1.963.000	2.359.904
. . Amortization of tangible fixed assets	4.682.000	3.238.000	2.659.142
. . Depreciation of tangible fixed assets	3.000
. . Writedown of current receiv.and of liquid	1.261.000	143.000	122.767
. Changes in raw materials	-276.000	-347.000	-383.757
. Provisions to risk reserves
. Other provisions
. Other operating costs	1.944.000	1.191.000	355.211
Total production costs	71.171.000	65.789.000	65.246.634
Diff. between value and cost of product.	364.000	2.036.000	2.747.529
FINANCIAL INCOME AND EXPENSE
. Income from equity investments	6.000.000	4.990.000	4.878.904
. . In subsidiary companies			4.878.904
. . In associated companies
. . In other companies
. Other financial income	2.854.000	736.000	346.104
. . 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
. . Financ.income other than the above	2.854.000	736.000	346.104
. . . - Subsidiary companies
. . . - Associated companies
. . . - Holding companies
. . . - Other companies			346.104
. Interest and other financial expense	-1.552.000	-3.809.000	-3.093.019
. . Towards subsidiary companies
. . Towards associated companies
. . Towards holding companies
. . Towards other companies
Total financial income and expense	7.302.000	1.917.000	2.131.989
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets
. Devaluation
. . Of equity investments
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income			10.901
. . Gains on disposals
. . Other extraordinary income			10.901
. Extraordinary expense			-629.571
. . Losses on disposals
. . Taxes relating to prior years
. . Other extraordinary expense			-629.571
Total extraordinary income and expense	475.000	100.000	-618.670
Results before income taxes	8.141.000	4.053.000	4.260.848
. Taxes on current income	898.000	-880.000	1.022.091
. . current taxes	756.000	227.000	1.377.803
. . differed taxes(anticip.)	142.000	-1.107.000	-355.712
. Net income for the period	7.243.000	4.933.000	3.238.757
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	7.243.000	4.933.000	3.238.757

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	0,54	0,47	0,70	0,29
Elasticity Ratio	Units	0,46	0,53	0,29	0,70
Availability of stock	Units	0,02	0,02	0,03	0,20
Total Liquidity Ratio	Units	0,44	0,50	0,26	0,44
Quick Ratio	Units	0,19	0,22	0,07	0,02
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	0,64	0,38	1,07	2,43
Self Financing Ratio	Units	0,36	0,40	0,30	0,23
Capital protection Ratio	Units	0,38	0,39	0,73	0,67
Liabilities consolidation quotient	Units	0,99	1,01	0,61	0,25
Financing	Units	1,69	1,41	2,08	3,19
Permanent Indebtedness Ratio	Units	0,66	0,68	0,54	0,45
M/L term Debts Ratio	Units	0,30	0,28	0,24	0,12
Net Financial Indebtedness Ratio	Units	0,94	0,51	0,82	1,05
CORRELATION
Fixed assets ratio	Units	1,23	1,44	0,77	1,33
Current ratio	Units	1,51	1,86	0,73	1,19
Acid Test Ratio-Liquidity Ratio	Units	1,44	1,79	0,65	0,85
Structure's primary quotient	Units	0,67	0,84	0,43	0,83
Treasury's primary quotient	Units	0,61	0,79	0,19	0,04
Rate of indebtedness ( Leverage )	%	278,91	250,42	330,37	444,18
Current Capital ( net )	Value	49.141.000	67.136.000	-18.239.676	624.251
RETURN
Return on Sales	%	19,39	15,29	12,79	4,19
Return on Equity - Net- ( R.O.E. )	%	6,39	4,47	6,21	3,73
Return on Equity - Gross - ( R.O.E. )	%	7,18	3,67	8,17	10,24
Return on Investment ( R.O.I. )	%	0,12	0,74	1,60	3,57
Return/ Sales	%	0,51	3,03	4,19	4,06
Extra Management revenues/charges incid.	%	1989,84	242,29	117,88	36,96
Cash Flow	Value	13.813.000	10.277.000	8.380.570	454.721
Operating Profit	Value	364.000	2.036.000	2.747.529	273.888
Gross Operating Margin	Value	6.934.000	7.380.000	7.889.342	746.996
MANAGEMENT
Credits to clients average term	Days	151,47	146,57	50,64	98,04
Debts to suppliers average term	Days	409,94	460,27	370,82	119,44
Average stock waiting period	Days	30,67	31,02	29,91	74,52
Rate of capital employed return ( Turnover )	Units	0,23	0,24	0,38	1,04
Rate of stock return	Units	11,74	11,61	12,03	4,83
Labour cost incidence	%	21,29	20,16	21,61	17,40
Net financial revenues/ charges incidence	%	10,25	2,85	3,25	-1,36
Labour cost on purchasing expenses	%	21,30	20,60	21,70	17,64
Short-term financing charges	%	0,81	2,45	2,85	3,12
Capital on hand	%	443,76	411,27	262,88	95,61
Sales pro employee	Value	150.589	158.912	148.247	207.079
Labour cost pro employee	Value	32.054	32.042	32.039	34.709

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	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 843.250
Population living in the region	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 9.393.092
Number of families in the region	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 3.858.736

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

- per food products	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 460
- per non food products	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 2.090
- per energy consume	:	$Description: \\vivek-pc\123 Foreign Report Raw\Lu-ve - S.p.a. - Vs. Rif. 492902_files\Spazio.gif$ 114

Sector Data

The values are calculated on a base of 333 significant companies.

The companies cash their credits on an average of 98 dd.

The average duration of suppliers debts is about 119 dd.

The sector's profitability is on an average of 4,19%.

The labour cost affects the turnover in the measure of 17,40%.

Goods are held in stock in a range of 75 dd.

The difference between the sales volume and the resources used to realize it is about 1,04.

The employees costs represent the 17,64% 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 4.597.

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

Total Bankrupt companies in the province : 3.052.

Total Bankrupt companies in the region : 39.612.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.91
UK Pound	1	INR 90.31
Euro	1	INR 80.17
Euro	1	INR 80.05

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

INFORMATION DETAILS

Analysis Done by :	NIS

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

Companies connected to members *

Direct Participations

Firm's location and structure

Historical Information and/or Firm's Status

Protests

Data Base Prejudicial Events Search

Legal Procedures

National Real Estates Survey

Financial Data

Financials

Remarks

Market / Territory Data

Sector Data

Statistical Detrimental Data

Unit