Bellini Yacht is born, Norberto Ferretti joins the Board

Bellini Nautica, a company active in the luxury nautical sector and listed on the Euronext Growth Milan, has ratified a binding investment agreement involving the company itself, its wholly-owned subsidiary Lusso Nautica, Blue Luxury, and Blue Luxury's wholly-owned subsidiary Rimini Service Yacht. This agreement – as reported by the newspaper La Stampa - concerns a capital increase for Lusso Nautica, underwritten in part by Bellini Nautica and in part through the contribution of the entire share capital of Rimini Service Yacht, followed by the merger of Rimini Service Yacht into Lusso Nautica.

Following this, Bellini Nautica will hold 60% of the share capital of Lusso Nautica, and Rimini Service Yacht will hold the remaining 40%. This move is in line with Bellini Nautica's growth strategies to create a dominant sector that will include the business units of new and used boat and yacht sales, thus providing customers with a more complete, direct, and professional experience. The revenue line related to the sale of new and used goods and rentals, which as of December 31, 2022, represented consolidated revenues of 6.4 million euros out of a total of 12 million euros, will be entirely channeled onto the company resulting from the merger.

Moreover, the Board of Directors has approved the creation of a new company named Bellini Yacht, dedicated to the production of vessels under the "Bellini Yacht" brand. This initiative represents a return to the group's roots within an entirely renewed context. Bellini Yacht will be established with a share capital of 23,750.00 euros and will be controlled 95% by Bellini Nautica and 5% by Blue Luxury.

The Board of Directors of Bellini Yacht will include Massimo Scagnelli, Battista, Martina, and Romano Bellini, and will also include Norberto Ferretti, a figure who has marked the recent history of nautical activities, having founded the Ferretti Yachts brand with his brother Alessandro in 1968. Norberto Ferretti's decision to join the Bellini Yacht team, as stated to the Italian daily newspaper La Stampa, is driven by a shared passion for nautical activities and the belief that this passion, combined with his extensive experience in the sector and Bellini Group's innovative approach, will achieve the set goals.