Prospectus - Notowania
Prospectus - Notowania Prospectus - Notowania
SUMMARY NOTE This Summary Note briefly presents the risks and the essential features associated with the Issuer and the Shares forming the subject matter of the Offer. For the purpose of correctly appraising the investment, the investors are invited to assess the information contained in this Summary Note together with the risk factors indicated in the specific Section present at the start of the Prospectus and the remaining information contained in said Prospectus. In detail: (a) the Summary Note should be read as an introduction to the Prospectus; (b) any decision, made by the investors, to invest in the Shares forming the subject matter of the Offer under Option, must be based on the complete examination of the entire Prospectus; (c) if legal action is brought before the Legal Authorities regarding the information contained in the Prospectus, the investor/plaintiff may be obliged, in accordance with national legislation applicable to said petition, to incur the costs for the translation of the Prospectus before starting the procedure; (d) civil liability is incumbent on those who have presented the Summary Note, including its possible translation, but only if the Summary Note is misleading, inaccurate, or inconsistent if read together with the other parts of the Prospectus. Reference to Sections, Chapters and Paragraphs refer to Sections, Chapters and Paragraphs of the Prospectus. (A) Risk factors With regard to the investment forming the subject matter of the Offer, the risk factors which must be considered before making any related decision are listed below. For a description of the same, reference should be made to the First Section, Chapter 4 of the Prospectus. Risk factors relating to the Issuer and the Group it heads up (a) Risks associated with the impact of the current uncertainties of the macro-economic context on UniCredit Group performance; (b) Risks of diluting the ROE; (c) Risks associated with the assessment using financial models based on assumptions, opinions and estimates on the assets held by the UniCredit Group; (d) Risks associated with the losses in value on goodwill (so-called impairment test); (e) Risks associated with information reconstructed in the Prospectus; (f) Operations carried out by means of structured credit products; (g) Credit risk; - 22 -
(h) Counterpart risk; (i) Risks associated with leveraged finance activities and investments attributable to private equity and hedge fund sectors; (j) Risks associated to the exposure to the trend of the real estate sector (k) Risks associated to the loan activities in the naval sector (l) Risk Management; (m) Risks associated with limiting the voting right present in the Issuer’s Article of Association provisions; (n) Risks associated with legal proceedings underway, with possible class actions and measures taken by the supervisory authorities; (o) Risks associated with surveys relating to cross-border transactions; (p) Risks associated with the ratings assigned to the Issuer and to subsidiary companies; (q) Risks associated with activities of the UniCredit Group in CEE countries; (r) Risks associated with activities of the UniCredit Group in Kazakhstan; (s) Risks associated to the implementation of the project relevant to the transformation of the organisational structure of the Group (t) Operating risks and those relating to the management of the IT systems; (u) Risks associated with activities of the UniCredit Group in forecast and pre-eminence declarations; (v) Inclusion of the financial information by means of reference. Risk factors relating to the sector of activities and the markets on which the Issuer and the UniCredit Group operate (a) Characteristic risks of banking and financial activities; (b) Risks associated with the competition in the banking and financial sector; (c) Risks associated with the evolution of the regulation of the banking and financial sector; (d) Risks associated with the reduction of the support for the liquidity of the system by governments and central authorities; (e) Risks associated with a possible deterioration in the loan quality in the activity sectors and on the markets where the Issuer operates; (f) Risks associated with raising liquidity and long-term loans. Risks factors relating to the Shares forming the subject matter of the Offer - 23 -
- Page 1 and 2: Prospectus relating to the offer un
- Page 3 and 4: 4.3.3 Risks associated with the per
- Page 5 and 6: 20.4. Audit of annual financial inf
- Page 7 and 8: 6.5 Stabilisation..................
- Page 9 and 10: Banca dell’Umbria Banca dell’Um
- Page 11 and 12: Issuer or UniCredit or the Company
- Page 13 and 14: Germany, and between January 14, 20
- Page 15 and 16: UniCredit Family Financing Bank Uni
- Page 17 and 18: CDO Acronym of Collateralized Debt
- Page 19 and 20: well as the negative “prudential
- Page 21: RWA (Risk-weighted asset) Value wei
- Page 25 and 26: Since its creation, the Group has c
- Page 27 and 28: For greater information on the UniC
- Page 29 and 30: OPERATING PROFIT (millions of €)
- Page 31 and 32: The members of the Board of Directo
- Page 33 and 34: Article 2441, first, second and thi
- Page 35 and 36: − notification that the investor
- Page 37 and 38: Selected financial information on t
- Page 39 and 40: • statutory financial statements
- Page 41 and 42: 1. PARTIES RESPONSIBLE 1.1 Parties
- Page 43 and 44: consolidated interim report as of t
- Page 45 and 46: The reclassified income statement f
- Page 47 and 48: Trading, hedging and fair value inc
- Page 49 and 50: at 12.31.2008 Notional value 28,772
- Page 51 and 52: 4. RISK FACTORS - 51 - RISK FACTORS
- Page 53 and 54: - 53 - RISK FACTORS Since the finan
- Page 55 and 56: - 55 - RISK FACTORS 2009 did not em
- Page 57 and 58: - 57 - RISK FACTORS liquidity facil
- Page 59 and 60: - 59 - RISK FACTORS which €1,686
- Page 61 and 62: - 61 - RISK FACTORS Increases in th
- Page 63 and 64: - 63 - RISK FACTORS Some of the met
- Page 65 and 66: - 65 - RISK FACTORS Regional Court
- Page 67 and 68: - 67 - RISK FACTORS Dalmata S.r.l.
- Page 69 and 70: - 69 - RISK FACTORS • Vanderbilt
- Page 71 and 72: - 71 - RISK FACTORS It is maintaine
(h) Counterpart risk;<br />
(i) Risks associated with leveraged finance activities and investments attributable to private<br />
equity and hedge fund sectors;<br />
(j) Risks associated to the exposure to the trend of the real estate sector<br />
(k) Risks associated to the loan activities in the naval sector<br />
(l) Risk Management;<br />
(m) Risks associated with limiting the voting right present in the Issuer’s Article of Association<br />
provisions;<br />
(n) Risks associated with legal proceedings underway, with possible class actions and measures<br />
taken by the supervisory authorities;<br />
(o) Risks associated with surveys relating to cross-border transactions;<br />
(p) Risks associated with the ratings assigned to the Issuer and to subsidiary companies;<br />
(q) Risks associated with activities of the UniCredit Group in CEE countries;<br />
(r) Risks associated with activities of the UniCredit Group in Kazakhstan;<br />
(s) Risks associated to the implementation of the project relevant to the transformation of the<br />
organisational structure of the Group<br />
(t) Operating risks and those relating to the management of the IT systems;<br />
(u) Risks associated with activities of the UniCredit Group in forecast and pre-eminence<br />
declarations;<br />
(v) Inclusion of the financial information by means of reference.<br />
Risk factors relating to the sector of activities and the markets on which the Issuer and the<br />
UniCredit Group operate<br />
(a) Characteristic risks of banking and financial activities;<br />
(b) Risks associated with the competition in the banking and financial sector;<br />
(c) Risks associated with the evolution of the regulation of the banking and financial sector;<br />
(d) Risks associated with the reduction of the support for the liquidity of the system by<br />
governments and central authorities;<br />
(e) Risks associated with a possible deterioration in the loan quality in the activity sectors and on<br />
the markets where the Issuer operates;<br />
(f) Risks associated with raising liquidity and long-term loans.<br />
Risks factors relating to the Shares forming the subject matter of the Offer<br />
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