Tod's founder Della Valle further raises voting stake to 81.2%
today Aug 20, 2019
Tod’s Chairman Diego Della Valle has raised his share of voting rights in the luxury goods group he founded to 81.2%, making good on a pledge to buy shares after disappointing first-half results earlier this month, a regulatory filing showed.
Italian market regulator Consob said on Tuesday Della Valle’s holding dated back to Aug. 9 and included a 4.49% percent stake held through a forward contract that bound him to buy 2.4 million shares by Nov. 26.
Della Valle, a prominent Italian businessman, has been buying more Tod’s shares as they come under pressure due to sliding sales.
But the group CFO denied during an earnings call on Aug. 7 it could be taken private.
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