AIM Italia market update 2Q 2018 - Matter of Fact by CFO SIM

1. MATTER OF FACT
BY CFO SIM
AIM ITALIA 2Q 2018 REPORT

2. 2Q 2018 REPORT
4 IPOs of which 2 Spacs
2 Business Combinations
1 Reverse takeover
1 Transition to MTA
Main events 2Q 2018
OVERVIEW
2
In spite of 1Q 2018 when AIM Italia underperformed compared to FTSE MIB and FTSE STAR, during the 2nd quarter of 2018
the AIM italia reported a slight increase in returns of 2.17%, overperforming the other indexes. FTSE MIB and FTSE STAR
decreased by 3.50% and 0.57% respectively. In particular, FTSE MIB and STAR index experienced a sharp increase through
the whole April but at the beginning of May mainly due to Italian political instability, they faced a sharp slump. By contrast, AIM
Italia faced less fluctuations during the 2Q 2018, obtaining a higher performance through an upward trend during the entirety
of June. It is possible to note the negative correlation between the sharp increase in the Italian spread and the indexes’ value.
The number of companies in the Italian stock exchange remains almost unchanged, consisting of 241 companies listed on the
main market (MTA – Mercato Telematico Azionario), of which 76 on the Star segment, and 102 companies listed on the AIM
Italia (MTF).
Source: Bloomberg, CFO Sim Source: Bloomberg, CFO Sim
Index
FTSE
AIM
FTSE
MIB
FTSE
STAR
Number of companies 102 40 75
Total market cap [€ bn] 7.451 583.954 41.782
Performance 2Q 2.17% -3.50% -0.57%
Monthly Return 2Q 0.72% -1.18% -0.19%
Daily Return 2Q 0.03% -0.06% -0.01%
The second quarter of 2018 was characterised by the listing
of 4 new companies, of which 2 Spacs. In addition to this,
two business combination were completed: the business
combination between EPS and ICF and between Crescita
and Cellularline. During the 2Q of 2018 also the reverse
takeover of Modelleria Brambilla by Co.Stamp was
completed . At the end of June, there was the transaction of
Triboo Spa from AIM to the main market (MTA), raising to
two the number of companies that have completed the
transaction in 2018. Furthermore, due to the market
instability, just one IPO was completed in the MTA market.
0
50
100
150
200
250
300
90
95
100
105
110
115
Apr May Jun
Italian Equity Indexes' Performance (2Q)
SPREAD BTP-BUND 10Y ITAIM INDEX
FTSE MIB INDEX IT STAR INDEX

3. 2Q 2018 REPORT
Oil & Gas;
5,9%
Basic Materials; 2,9%
Industrials;
15,7%
Consumer
Goods; 11,8%
Health Care; 4,9%
Consumer
Services; 19,6%
Utilities;
4,9%
Technology;
10,8%
Financials;
9,8%
Spac;
13,7%
AIM Italia Components by industry
3
The market remained quite diversified by industry with a slight increase in the “Spac” sector following the listing of 2 SPACs
and in the “Industrials” sector. Companies operating in the “Consumer service” industry, which account for 19.6% of AIM
constituents, are still the most relevant group, followed by “Industrials” (15.7%) and “Spacs” (13.7%).
The market cap range on AIM Italia is € 3 – 1,100 M, with an average of € 73.05M. The market cap curve is shifting right with
54% of companies having a market cap higher than € 40M (the minimum requirement for a listing on the MTA). This is mainly
due to primary offerings on the market and the presence of 14 SPACs. In particular, during 2Q 2018, Bio On S.p.A. reached
€1.08bn market cap, becoming the only company with a market cap over one billion listed on the AIM Italia.
Source: Bloomberg, CFO Sim Source: Bloomberg, CFO Sim
4,9%
10,8%
5,9%
16,7%
14,7%
17,6%
9,8%
12,7%
6,9%
0
5
10
15
20
0-5
5-10
10-15
15-25
25-50
50-75
75-100
100-150
>150
#Companies
Market cap [€M]
AIM Italia Components by market cap
Total market capitalization of AIM Italia is close to € 7.5bn and the average size of listed companies is now around € 73.05M.
In terms of amount raised, during the 2Q 2018 € 194M was raised thanks to 4 IPOs, for a total of 10 IPOs and € 1.145bn of
proceeds from the beginning of the year.
Source: Bloomberg, CFO Sim Source: Bloomberg, CFO Sim
0
2000
4000
6000
8000
0
20
40
60
80
100
120
€M
AIM Italia development
Companies Market Cap
0
250
500
750
1000
1250
1500
0
5
10
15
20
25
30
€M
AIM Italia IPO
IPO Raise

4. 2Q 2018 REPORT
4
Source: Bloomberg, CFO Sim Source: Bloomberg, CFO Sim
40,7%
2Q 2018 represented a period of volatility and sell-offs in the Italian Market due to Italian political instability. As a
consequence, there was a general downward trend of stock prices. In particular, 72.5% of the 102 companies listed on the
AIM Italia reported a negative return during 2Q 2018. Moreover, nearly 25.5% of companies obtained a performance lower
than -10% whereas just 12.74% higher than 10%. It is important to note that also several profit opportunities were present: 3
companies performed more that 100% during the 2Q 2018.
Companies with a smaller capitalization experienced a negative performance; instead, larger firms resulted more resilient and
obtained higher return bearing a significant growth of the AIM index.
# TOP 10
Q2
performance
# WORST 10
Q2
performance
1 Grifal SpA 190.4% 1 Gruppo Green Power SpA -58.7%
2 PRISMI SpA 124.5% 2 Ecosuntek SpA -28.4%
3 Bio On Spa 104.3% 3 Axelero SpA -27.5%
4 Blue Financial Communication SpA 61.5% 4 NET Insurance SpA -26.7%
5 WM Capital SpA 52.8% 5 Innovatec SpA -26.2%
6 Notorious Pictures SpA 42.7% 6 Alfio Bardolla Training Group Spa -22.6%
7 Zephyro SpA 34.7% 7 Telesia Spa -21.7%
8 Costamp Group Spa 30.9% 8 Poligrafici Printing SpA -21.6%
9 SMRE SpA 23.6% 9 Fintel Energia Group SpA -21.0%
10 Energica Motor Co SpA 20.2% 10 Giorgio Fedon & Figli SpA -19.5%
In addition to the FTSE AIM Italia Index increase of +2.17%, also a significant increase in market capitalization can be noted.
In particular, AIM Italia total market capitalisation grew by 11.44% in 2Q 2018 principally thanks to the capital appreciation of
listed companies occurred in June. During 2Q 2018, 4 new companies were listed contributing to a capitalization increase of €
306M. On the other hand, one company moved to the main market with a negative impact of € 62,4M.
Source: Bloomberg, CFO Sim
PERFORMANCE
Source: Bloomberg, CFO Sim
8750
9000
9250
9500
9750
5500
5750
6000
6250
6500
6750
7000
7250
7500
AIM Italia Performance
AIM Italia Total Market Cap ITAIM INDEX
STATISTICS %
2Q Performance 11.44%
Montly Return 4Q 3.68%
Daily Return 4Q 0.17%

5. 2Q 2018 REPORT
5
Compared to 1Q 2018, the daily median standard deviation of returns increased by 8.98% due to Italian political instability
and the run-off period. As consequence, standard deviation reached a value of 2.16% in the 2Q 2018.
During 2Q 2018 positive volatility of returns faced a decrease of 4.1% whereas negative volatility increased by 11.7%. As a
consequence, positive volatility of returns became 7% higher than negative volatility.
Source: Bloomberg, CFO Sim
Considering the median of performance, 2Q 2018 was characterised by negative return among all industries. Particularly
noteworthy are significant negative returns in the sectors “Oil & Gas” (-9.9%), “Utilities” (-6.3%) and “Consumer Services” (-
8.3%).
The most resilient sectors are represented by “Spacs” (-1.0%) and “Health Care” (-1.5%).
-9,9%
-3,6%
-3,8%
-5,0%
-1,5%
-8,3%
-9,0%
-5,6%
-3,9%
-1,0%
Oil & Gas
Basic Materials
Industrials
Consumer Goods
Health Care
Consumer Services
Utilities
Financials
Technology
Spac
Performance by industry 2Q
0,0%
0,5%
1,0%
1,5%
2,0%
2,5%
3,0%
Monthly Volatility

6. 2Q 2018 REPORT
6
During 2Q 2018 there were 4 admissions to AIM Italia, of which 2 were SPACs, bringing total listed companies to 102.
These 2 SPACs raised on average € 78.5M and they all assigned free warrants to IPO subscribers. The other 2 IPOs raised
on average € 18.45M with an average free float, adjusted by market cap at IPO, of 24.69%. Performance since IPO (SPACs
excluded) is on average 94.64% due to the performance of Grifal S.p.A. (up more than 100%).
Source: Bloomberg, Borsa Italiana, CFO Sim
*Average free float adjusted by Market Cap
2Q 2018 FIGURES IPO (ex spac) IPO SPAC TOTAL
Number 2 2 4
Mean amount raised (€M) 18.450 78.500 48.475
Mean Market Cap at IPO (€M) 74.500 78.500 76.500
Mean Free Float* 24.69% 100.00% 63.33%
Performance since IPO 94.64% -0.80% 46.92%
Source: Bloomberg, Borsa Italiana, CFO Sim
NEW ADMISSIONS
1. Gabelli Value For Italy S.p.A: Gabelli Value For Italy S.P.A. operates as a special purpose acquisition company. The
Company was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness,
and for acquisition purposes.
2. Somec S.p.A: Somec Spa manufactures and distributes glass envelopes for cruise ships and other architectural
projects. The Company provides balcony sliding doors, windows, balustrades, and dividers, as well as offers
windscreens, skylights, skywalls, and fire resistant products. Somec serves customers globally.
3. Archimede S.p.A: Archimede S.p.A. of Milano operates as a special purpose acquisition company. The Company aims
to acquire one or more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase,
and reorganization.
4. Grifal S.p.A: Grifal S.p.A. manufactures packaging products. The Company provides folding paperboard boxes,
cardboards, envelops, wooden pallets, flight cases, and bags. Grifal serves customers in Italy.
Company
Industry
[ICB]
IPO Date
Amount
raised
[€ M]
Market Cap
at IPO
[€ M]
Market
Cap
[€ M]
IPO Price
[€]
Last Price
[€]
Performance
since IPO
Free
Float
Gabelli Value For Italy SpA Spac 20/04/2018 110 110 107.690 10 9.79 -2.1% 100%
Somec SpA Industrials 14/05/2018 32 124 122.820 18 17.8 -1.1% 26%
Archimede SpA Spac 21/05/2018 47 47 47.235 10 10.05 0.5% 100%
Grifal SpA Industrials 01/06/2018 4.9 25 72.500 2,6 7.55 190.4% 19%

7. 2Q 2018 REPORT
7
Source: Bloomberg, CFO Sim
During 2Q 2018, the daily traded market cap, with the exception of a peak at the end of May, had a lower value than the 1Q
2018. In particular the median of daily traded market cap of the second quarter is 0.031%, 29% less than the first quarter.
Furthermore, the number of companies trading more than 10% of their market cap during a quarter fell from 26 of 1Q 2018 to
23 in 2Q 2018.
By contrast, considering daily traded value, June represents the most liquid month of 2018. However, AIM Italia is still an
illiquid market: free-floats still present modest levels and only 17 companies traded every day throughout the second quarter
of 2018, 29.2% less than during the 1Q 2018.
Source: Bloomberg, CFO Sim
During 2Q 2018, € 603M were traded, 34% more than the amount traded in the 1Q 2018. Moreover, the monthly turnover
increased constantly, reaching a record of €312M in June 2018. In particular, during the first half of 2018, the AIM market
turnover was 24.56% higher than during the first half of 2017.
LIQUIDITY
Source: Borsa Italiana
-50%
-25%
0%
25%
50%
75%
100%
125%
150%
175%
-
50
100
150
200
250
300
350
Monthly Turnover
Monthly Turnover ΔTurnover '18 on '17
0
5
10
15
20
25
30
Jan
Feb
Mar
Apr
May
Jun
€M
Daily Traded Value
0,00%
0,02%
0,04%
0,06%
0,08%
0,10%
0,12%
0,14%
Jan
Feb
Mar
Apr
May
Jun
Daily Traded Market Cap
Daily traded market cap Weekly MA

8. 2Q 2018 REPORT
8
The turnover velocity represents the ratio between the total traded value of shares of a company and its market value.
2Q presented a turnover velocity close to 8.2%; in particular the AIM Market is facing a monthly increase in turnover velocity
during the 2Q 2018, reaching a top of 4.21% in June 2018.
In addition to this, considering the accumulated turnover velocity at the end of the second quarter, it is 33.4% lower than the
previous year. As consequence, it is possible to note that the capitalization growth of the AIM Italia isn’t supported by a
sufficiently liquid and deep secondary market.
Source: Bloomberg, CFO Sim
IPO activity during 2Q 2018 consisted of 4 new companies listed, of which 2 SPACs, with a total raise of almost € 194M:
79.6% less than 1Q 2018. The main reason for less enthusiasm on the primary market is due to the high uncertainty of the
market caused by Italian political instability. In particular, just one IPO was completed on the MTA, a difficult market situation
worsened by the lack of trust from foreign institutional investors.
The performance, volatility and market liquidity were also highly influenced by Italian political instability. In particular, during
the second quarter, the AIM Italia outperformed the other Italian indexes. However, an increase in volatility and a slight
decrease in daily market cap liquidity can be noted.
Furthermore, during 2Q 2018, one company, Triboo S.p.A., moved to the STAR and others have begun the process to follow
them onto the main market.
FINAL CONSIDERATIONS
Source: Bloomberg, CFO Sim Source: Bloomberg, CFO Sim
# TOP 10 2Q
TRADED
VALUE
# TOP 10 2Q
DAILY TRADED
MARKET CAP
TOTAL TRADED
MARKET CAP
1 Bio On Spa 252,695,183 1 Visibilia Editore SpA 3.42% 215.73%
2 Spaxs SpA 19,429,488 2 WM Capital SpA 2.24% 141.32%
3 Grifal SpA 16,739,206 3 PRISMI SpA 1.39% 87.80%
4 PRISMI SpA 15,670,502 4 Gruppo Green Power SpA 1.26% 79.51%
5 Orsero SpA 14,392,405 5 Grifal SpA 0.56% 35.12%
6 SMRE SpA 12,857,690 6 Blue Financial Communication SpA 0.56% 35.01%
7 Zephyro SpA 11,686,576 7 Bio On Spa 0.52% 32.74%
8 Triboo Spa 11,333,128 8 Ambromobiliare SpA 0.39% 24.57%
9 Energica Motor Co SpA 10,885,780 9 Energica Motor Co SpA 0.35% 21.78%
10 Italian Wine Brands SpA 10,275,871 10 Vetrya SpA 0.32% 20.18%
0%
1%
2%
3%
4%
5%
6%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Turnover Velocity
Accumulated Turnover Velocity Turnover velocity

9. 2Q 2018 REPORT
9
SPECIALIST NOMAD & SPECIALIST SPECIALIST
SPECIALIST SPECIALIST
SPECIALIST SPECIALIST
NOMAD & SPECIALIST
NOMAD & SPECIALIST
NOMAD & SPECIALIST
NOMAD & SPECIALIST
ABOUT CFO SIM - CORPORATE CLIENTS
CFO SIM NEWS
➢ OTHER DEALS BUSINESS COMBINATION of GLENALTA S.p.A. with CFT S.p.A. (July 2018)
➢ EVENTS EUROPEAN LARGE & MIDCAP EVENT (Paris 8th – 9th October 2018)
NOMAD & SPECIALIST
NOMAD & SPECIALIST

10. 2Q 2018 REPORT
10
AIM ITALIA COMPONENTS
Company Last Price
MKT CAP
[€M]
RETURN
2Q
IPO Date
IPO
Price
Traded Value Industry - ICB
14AIM SICAF SpA 540 7.020 9.3% 29/07/2016 500 178,074Financials
2Abitare In SpA 314 59.346 -7.1% 08/04/2016 138 2,120,160Consumer Goods
3Agatos SpA 0.24 15.055 -14.3% 11/10/2013 1.25 934,024Utilities
4Alfio Bardolla Training Group Spa 4.39 22.363 -22.6% 28/07/2017 4.14 3,607,835Industrials
5Alkemy SpA 11.72 63.323 -6.5% 05/12/2017 11.75 5,960,902Consumer Services
6ALPI SpA 9.8 98.000 -3.1% 01/02/2018 10 2,571,746Spac
7Ambromobiliare SpA 3.86 10.109 4.6% 23/12/2011 6.6 2,544,626Financials
8Archimede SpA/Milano 10.05 47.235 0.5% 21/05/2018 10 569,873Spac
9Assiteca SpA 2.75 89.851 11.8% 27/07/2015 1.85 1,635,540Financials
10Axelero SpA Suspended -27.5% 11/12/2014 5.5 1,171,310Consumer Services
11Bio On Spa 57.4 1,080.555 104.3% 24/10/2014 5 252,695,183Basic Materials
12Biodue SpA 5.04 56.191 0.8% 20/05/2015 3.55 837,030Health Care
13Blue Financial Communication SpA 1.3 4.128 61.5% 11/12/2015 2 1,176,791Consumer Services
14Bomi Italia SpA 3.38 57.102 1.1% 26/06/2015 2.75 5,265,865Industrials
15Caleido Group SpA 1.44 3.600 -11.1% 24/03/2015 3 190,525Consumer Services
16Capital for Progress 2 SpA 9.75 63.375 -0.5% 04/08/2017 10 2,941,325Spac
17Casta Diva Group SpA 1.62 20.600 12.5% 22/07/2014 3.12 1,115,103Consumer Services
18CDR Advance Capital SpA 0.994 12.691 -4.4% 30/07/2012 1 928,047Industrials
19Cellularline Spa 8.8 114.400 -11.1% 15/03/2017 10 5,159,400Consumer Services
20Clabo SpA 3 24.687 -7.4% 31/03/2015 2.7 2,203,615Industrials
21Costamp Group Spa 3.9 165.715 30.9% 05/12/2014 2.5 1,445,376Industrials
22Cover 50 SpA 9.5 41.800 -5.0% 13/05/2015 18.6 1,404,020Consumer Goods
23Culti Milano SpA 4.6 14.242 5.5% 17/07/2017 5.2 317,925Consumer Goods
24DBA Group SpA 3.7 48.100 -3.9% 14/12/2017 4 1,232,103Technology
25Digital Magics SpA 7.08 52.420 -8.5% 31/07/2013 7.5 2,040,468Financials
26Digital360 SpA 1.075 17.299 -14.0% 13/06/2017 1.15 257,910Industrials
27Digitouch SpA 1.32 18.344 -7.7% 16/03/2015 2.3 1,518,883Consumer Services
28Dominion Hosting Holding SpA 6.45 9.159 -8.5% 27/07/2016 10 240,780Technology
29Ecosuntek SpA 5.14 8.805 -28.4% 08/05/2014 21 95,585Oil & Gas
30Elettra Investimenti SpA 9.78 37.526 -9.0% 21/04/2015 6 1,322,520Utilities
31Energica Motor Co SpA 3.92 55.931 20.2% 29/01/2016 3.2 10,885,780Consumer Goods
32Energy Lab SpA Suspended -7.5% 20/05/2014 1.8 288,130Oil & Gas
33Enertronica SpA 2.28 10.759 -12.3% 15/03/2013 2.6 1,605,591Oil & Gas
34EPS Equita Pep Spac 2 SpA 9.53 73.581 -5.6% 01/08/2017 10 3,563,609Spac
35Equita Group SpA 3.215 160.750 -2.6% 23/11/2017 2.9 9,356,198Financials
36Expert System SpA 1.25 44.824 -3.8% 18/02/2014 1.8 7,189,070Technology
37Fervi SpA 13 32.500 -16.1% 27/03/2018 15.5 491,800Consumer Services
38Finlogic SpA 5.4 36.450 3.1% 09/06/2017 3.6 967,185Industrials
39Fintel Energia Group SpA 2.64 67.616 -21.0% 23/03/2010 2.3 292,464Utilities
40First Capital SpA 10.2 26.061 0.0% 22/12/2010 1.03 1,146,626Financials
41FOPE SpA 6.55 31.099 -3.7% 30/11/2016 2.9 464,475Consumer Goods
42Frendy Energy SpA 0.393 23.312 15.6% 22/06/2012 1.05 706,967Utilities
43Gabelli Value For Italy SpA 9.79 107.690 -2.1% 20/04/2018 10 2,453,050Spac
44Gambero Rosso SpA 0.98 14.160 -8.4% 23/11/2015 1.6 1,108,064Consumer Services
45GEL SpA 2.11 15.177 -10.6% 20/12/2017 2.6 118,850Industrials
46Giorgio Fedon & Figli SpA 9.1 17.290 -19.5% 18/12/2014 7.7 402,380Consumer Goods
47Glenalta SpA 9.46 92.708 -6.3% 19/07/2017 10 4,469,728Spac
48GO Internet SpA 1.335 17.973 -2.6% 06/08/2014 2.75 2,432,278Technology
49GPI SpA 9.74 56.960 -9.0% 29/12/2016 10.3 4,995,260Health Care
50Grifal SpA 7.55 72.503 190.4% 01/06/2018 2.6 16,739,206Industrials

11. 2Q 2018 REPORT
Company Last Price
MKT CAP
[€M]
RETURN
2Q
IPO Date
IPO
Price
Traded Value Industry - ICB
51Gruppo Green Power SpA 1.86 5.548 -58.7% 22/01/2014 10.5 5,819,681Consumer Services
52Health Italia Spa 4.73 67.757 -8.3% 09/02/2017 4 1,984,210Health Care
53H-Farm Spa 0.74 66.039 -11.9% 13/11/2015 1 664,467Financials
54ICF Group SpA 9 67.887 -10.0% 01/08/2017 10 4,518,824Basic Materials
55IDeaMI SpA 9.68 242.000 -0.4% 11/12/2017 10 6,347,902Spac
56Illa SpA 2.29 19.179 7.5% 22/12/2017 2.68 1,503,505Consumer Goods
57Imvest SpA 2.26 106.548 -18.1% 29/02/2011 1.1 2,894,808Financials
58Industrial Stars of Italy 3 SpA 9.7 145.500 -1.0% 19/10/2017 10 8,319,040Spac
59Iniziative Bresciane - Inbre - SpA 21.4 82.989 -2.7% 15/07/2014 21 331,095Utilities
60Innova Italy 1 SpA 10.1 101.000 2.0% 19/10/2016 10 7,622,900Spac
61Innovatec SpA 0.0319 4.825 -26.2% 20/12/2013 3.59 1,005,939Oil & Gas
62Italia Independent Group SpA 3.92 21.207 -12.7% 28/06/2013 26 431,963Consumer Goods
63Italian Wine Brands SpA 12.45 92.155 -9.8% 29/01/2015 10.81 10,275,871Consumer Goods
64KI Group SpA 2.26 12.631 -5.0% 28/06/2013 6.5 106,800Consumer Goods
65Kolinpharma SpA 6.7 9.782 -1.5% 09/03/2018 7 346,031Health Care
66Leone Film Group Spa 4.82 67.928 -6.4% 18/12/2013 4.8 1,119,120Consumer Services
67Life Care Capital SpA 9.642 134.988 -1.1% 07/03/2018 10 2,901,352Spac
68Lucisano Media Group SpA 2.21 32.880 -1.8% 16/07/2014 3.5 524,420Consumer Services
69MailUp SpA 2.1 29.755 -11.0% 29/07/2014 2.5 2,448,752Technology
70Masi Agricola SpA 4.48 144.036 4.7% 30/06/2015 4.6 1,205,483Consumer Goods
71Mondo TV France SA 0.0714 7.547 -11.9% 01/03/2013 0.11 1,308,689Consumer Services
72Mondo TV Suisse SpA 0.93 9.300 -16.6% 13/04/2015 2.6 482,820Consumer Services
73Neodecortech Spa 3.7 48.477 -3.6% 26/09/2017 4 1,406,000Basic Materials
74NET Insurance SpA 4.44 30.436 -26.7% 19/11/2013 20.1 741,139Financials
75Neurosoft SA 2.3 58.846 0.9% 08/05/2009 7.6 323,620Technology
76Notorious Pictures SpA 1.82 40.934 42.7% 23/06/2014 3 5,789,744Consumer Services
77Orsero SpA 7.52 132.976 -16.5% 10/11/2015 10 14,392,405Consumer Goods
78Pharmanutra SpA 14.4 139.406 9.1% 18/07/2017 10 4,539,385Health Care
79Piteco SpA 4.7 85.225 -8.7% 31/07/2015 3.3 4,014,015Technology
80PLT energia SpA 2.78 66.495 -4.1% 04/06/2014 2.7 2,994,420Oil & Gas
81Poligrafici Printing SpA 0.538 16.404 -21.6% 16/03/2010 1.0205 433,992Consumer Services
82Portale Sardegna SpA 3.06 5.046 4.1% 16/11/2017 3.2 81,180Consumer Services
83PRISMI SpA 2.47 24.139 124.5% 26/07/2012 22 15,670,502Technology
84Rosetti Marino Spa 38.4 153.600 7.6% 12/03/2010 30 31,060Oil & Gas
85Safe Bag SPA 4.84 71.438 -0.9% 12/09/2013 2.25 6,936,750Consumer Services
86SIT SpA 10.65 253.012 -3.2% 20/07/2017 10.92 5,288,328Industrials
87Siti B&T Group SpA 6.9 86.312 -19.2% 31/03/2016 8 1,613,488Industrials
88SMRE SpA 6.18 135.027 23.6% 20/04/2016 2.5 12,857,690Industrials
89Softec SpA 2.85 7.119 9.2% 05/03/2012 16 1,073,226Technology
90Solutions Capital Management Sim SpA 9.2 17.572 -8.9% 28/07/2016 10.59 75,204Financials
91Somec SpA 17.8 122.820 -1.1% 14/05/2018 18 2,256,352Industrials
92Spactiv Spa 9.7 87.300 -1.2% 27/09/2017 10 1,759,984Spac
93Spaxs SpA 9.84 590.400 -3.9% 01/02/2018 10 19,429,488Spac
94Sprintitaly SpA 9.68 145.200 -0.4% 21/07/2017 10 3,839,386Spac
95Technical Publications Service SpA 4.21 24.835 -6.9% 28/03/2017 3.2 309,695Industrials
96Telesia Spa 5.5 9.625 -21.7% 20/02/2017 10 740,718Consumer Services
97VEI 1 SpA 9.599 95.990 -0.8% 27/02/2018 10 4,653,639Spac
98Vetrya SpA 7.3 48.056 -5.9% 29/07/2016 6 10,151,580Technology
99Visibilia Editore SpA 0.093 3.728 -0.6% 16/03/2010 6.4 7,385,697Consumer Services
100 Wiit SpA 50 129.750 -5.3% 05/06/2017 45 6,921,356Technology
101 WM Capital SpA 0.576 6.558 52.8% 23/12/2013 10 8,991,593Industrials
102 Zephyro SpA 10.1 99.233 34.7% 27/12/2013 10 11,686,576Industrials
11
AIM ITALIA COMPONENTS

12. 2Q 2018 REPORT
12
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