MILAN ( – The total value exchanged during the week is 78.3 million euro; 23 positive shares with an average of + 2.31%. The FTSE AIM Italia scored -2.78%. The FTSE Italia PIR PMI All posted a performance of -3.59%. The 5 best performances of the week: Culti Milano: 7.34% (CMG Euro 7.298) GPI: 6.82% (CMG Euro 15.556) Safe Bag: 5.48% (CMG Euro 122.320) WIIT: 4.65% (CMG) Euro 140.697) Cover 50: 4.17% (CMG Euro 7.460) At sector level * the best performance of the week was recorded by the Chemical sector (+ 1.0% on average), followed by the Healthcare sector (+0.2 %) and the Telecommunications sector (+ 0.1%). Chemical Sector Performance: 1.0% (CMG Euro 12.061.994) Healthcare: 0.2% (CMG Euro 21.066) Telecommunications: 0.1% (CMG Euro 14.852) Food: -0.7% (CMG Euro 38.071) Technology : -1.3% (CMG Euro 30.517) Finance: -1.9% (CMG Euro 83.352) Fashion and Luxury: -2.0% (CMG Euro 3.992) Industrial: -2.7% (CMG Euro 42.790) Services : -2.9% (CMG Euro 23.816) Renewable Energy and Energy: -3.2% (CMG Euro 8.486) Media: -6.2% (CMG Euro 19.449) * Sector classification by the IR TOP Osservatorio ( The main News of the week AIM INVESTOR DAY: ESG criteria, institutional investors side by side Meeting on the 27th November with the fifth edition of the AIM Investor Day by IR TOP Consulting, which will take place at Palazzo Mezzanotte. During the day of presentations and comparisons between the companies of AIM, starting at 17.00, there will be a round table that will feature a number of institutional investors. At the centre of the debate will be: ‘SRI Investment strategies and ESG criterias’. Speakers for CANDRIAM, Matthieu David, Head of Italian Branch, for BANCA FINNAT Alberto Alfiero, Vice Director General, for BANOR Angelo Meda, Head of Equities, for EQUITA GROUP Andrea Vismara, Chief Executive Officer, for ETICA SGR Francesca Colombo, Head of ESG Analysis and Research, for VALEUR ASSET MANAGEMENT Alida Carcano, Managing Partner, for BORSA ITALIANA LSEG Alessandra Franzosi, Head of Pension Funds & Asset Owners and for PMI CAPITAL Anna Lambiase, CEO & Founder. For registrations: +390245473884 – Circle: initial coverage, for IRTop Research target price at 3.71 euros Circle is a management consulting company with distinctive vertical expertise in the port and intermodal logistics sector specialising in the development of solutions for automation and for the digitalisation of the Supply Chain. Circle, an innovative SME founded in 2012 and listed on the AIM Italia market from October 26th, 2018 at an IPO price of € 2.40, is a management consulting firm with distinctive vertical expertise in the port sector and of intermodal logistics, specialising in the development of automation solutions and for the digitalisation of the supply chain. In November 2017, Circle acquired 51% of Info.Era, a software house with twenty years experience in the world of maritime and shipping. The operation has guaranteed the strengthening of software products, and which complements what both companies are targeting, respectively, to the intermodal logistics sector (Milos® of Circle), and in diverse Mediterranean ports, inland terminals and port terminals (Sinfomar® of info.era, Port Community System of the Port of Trieste). Circle has three business units: Innovative & Smart Supply Chain, Connecting EU and Specialised Digital Multichannel Marketing. The group closed 2017 (pro-forma figures) with a production value of 4.1 million euros (+ 74% vs. 2016), EBITDA margin of 24%, group net income of 0.5 million and net cash of about 1 million. In the first half of 2018 Circle reported consolidated revenues of 2.4 million, EBITDA margin of 26.5%, Group net profit of 0.3 million and net cash of 0.9 million. According to IRTop Research estimates, Circle should close 2018 with consolidated revenues of 5.0 million euros, EBITDA of 1.3 million (EBITDA margin of 26%), a group net profit of 0.7 million and a net cash increase of 3.1 million. The stock, which capitalises around 8 million euros, has a multiple EV/EBITDA 2018 of 3.7x compared to a median value of 11.5x of the Small & Mid Cap peers and of 7.2x of the AIM Italia peers considered. Portale Sardegna completes 100% acquisition of Royal Travel Jet Portale Sardegna, based in Nuoro, was founded in 2001 by a group of young entrepreneurs with the aim of promoting the tourism potential of Sardinia and has become in a few years a consolidated project for the online tourist market. Portale Sardegna has exercised the option to purchase the residual stake in Royal Travel Jet Sardegna, equal to 49% of the share capital, previously held by Acacia Travel Holding and Francesco Atzeri. The transaction completes the integration started with the acquisition of 51% of Royal Travel Jet, strategic both considering the background of the companies involved, and in virtue of the activities that both of them do. The specialisation of Royal Travel Jet in the luxury tourism sector and the international customer portfolio allows Portale Sardegna to achieve its strategic objectives of internationalisation, and of lengthening the tourist season. Integration will also reinforce the competitiveness of the websites. The acquisition envisaged a payment of 550,000 euros. Simultaneously, Portale Sardegna activated a medium-long term unsecured loan granted by Banca Monte dei Paschi di Siena for 600,000 euros, with the intention of partly financing the acquisition and preserving the company’s liquidity. Furthermore, F.A. Travel, a minority partner of Pavoneggi, an indirect subsidiary of Portale Sardegna, through Royal Travel Jet, has granted Pavoneggi an interest-bearing loan, for a total amount of 50,000 euros, whose repayment is due at the end of the thirtieth month following today’s date. The acquisition of residual participation in the share capital of Royal Travel Jet, and the financing of F.A.Travel to Pavoneggi, constitute related transactions. Casta Diva creates District and triples the value of the events sector Casta Diva Group is a multinational company active in the communication sector for the production of branded content, viral videos, digital content, films and live music entertainment. It is present in 4 continents with offices in 15 cities. The brands of the Group are Casta Diva Pictures, Casta Diva Events, Casta Diva Forums, Blue Note Milan and Blue Note Off. Casta Diva Group has established DISTRICT S.r.l., for which Casta Diva Group S.p.A. has conferred 100% of Casta Diva Events S.r.l. (CDE), and FIDUCIA S.r.l. (Newco of Matteo Valcelli and Ernesto Pellegrini) has conferred 100% of G.2 Eventi Srl and Mete Travel and Events S.r.l. DISTRICT S.r.l. is 51% owned by Casta Diva Group SpA and 49% owned by FIDUCIA Srl. The 2019/2021 District Business Plan will be approved by 30th November 2018, while the new Group Business Plan will be approved by the Board of Directors on 12th December 2018. Andrea De Micheli and Luca Oddo, President and CEO of Casta Diva Group, from one part, and Matteo Valcelli and Ernesto De Pellegrini, President and Director of FIDUCIA, on the other, agree: “We are proud to strengthen our presence in the events market in an even more structured and dynamic way with a fully integrated and competitive activity also on the international market.” Over the years, the three companies have put their experience at the service of clients such as A2A, Alitalia, AllianzBank, Banco BPM, Ferrovie dello Stato, Allianz Group, AON Group, CREVAL Group, Marazzi Group, Mediaset Group, Huawei, Intesa Sanpaolo, Mazda Group, MINI, just to name a few. Finlogic adopts the Group Code of Ethics The Finlogic Group is active in the Information Technology sector with the creation of complete and innovative solutions for the coding and automatic identification of products through the use of barcodes and RFID technology (Radio Frequency Identification). The Board of Directors of Finlogic have approved the adoption of the Group Code of Ethics. A step forward in the evolutionary path of the group, in preparation for the implementation of the Management and Control Organisational Model as required by the Legislative Decree and appointed by the Supervisory Body, which is expected to be completed by March 31st, 2019. THE AIM COMPANIES: 4AIM SICAF: 0,00% Abitare In: -1,07% Agatos: -5,07% Alfio Bardolla Training Group: -6,43% Alkemy: -0,38% Alp.I: -0,61% Ambromobiliare: -3,47% Archimede: -1,93% Askoll EVA: -6,25% Assiteca: 0,85% axélero: sosp. BioDue: 0,78% Bio-on: 1,04% Blue Financial Communication: -6,48% Bomi Italia: -0,85% Caleido Group: -3,42% Capital For Progress 2: 1,08% Casta Diva Group: -7,69% CdR Advance Capital: -1,52% Cellularline: -3,16% CFT: 2,89% Circle: -0,54% Clabo: -15,69% Costamp Group: -2,22% Cover 50: 4,17% Culti Milano: 7,34% DBA Group: -4,14% DHH: -4,46% Digital Magics: 0,32% Digital Value: -0,92% Digital360: -6,56% DigiTouch: -3,33% Ecosuntek: -10,61% Elettra Investimenti: 1,25% Energica Motor Company: -7,22% Energy Lab: sosp. Enertronica: sosp. EPS Equita PEP 2: 0,53% Esautomotion: -0,43% Expert System: -3,63% Fervi: 0,00% Fine Foods NTM: -7,22% Finlogic: -4,24% Fintel Energia Group: 4,07% First Capital: -1,82% FOPE: -1,57% Frendy Energy: -1,42% Gabelli Value For Italy: 0,00% Gambero Rosso: -5,19% Gel: -0,87% Giorgio Fedon & Figli: -3,07% GO Internet: -0,37% GPI: 6,82% Grifal: -4,16% Gruppo Green Power: -15,63% Health Italia: -2,28% H-FARM: -4,81% Icf Group: -5,99% IdeaMI: 0,00% Illa: -2,25% Imvest: -13,49% Industrial Stars of Italy 3: 0,21% Iniziative Bresciane: 0,00% Innovatec: -4,76% Intred: 0,63% Italia Independent Group: -5,44% Italian Wine Brands: -0,82% Ki Group: 0,81% Kolinpharma: 0,00% Leone Film Group: 0,86% Life Care Capital: 0,00% Longino & Cardenal: -4,35% Lucisano Media Group: -1,25% MailUp: 1,24% Masi Agricola: 2,79% Mondo TV France: -13,91% Mondo TV Suisse: -19,75% Monnalisa: -3,85% Neodecortech: -0,34% Net Insurance: -0,49% Neurosoft: -2,92% Notorious Pictures: -1,90% Orsero: -1,98% Pharmanutra: -3,15% PLT Energia: -1,08% Poligrafici Printing: -1,29% Portale Sardegna: 1,97% Portobello: -4,57% Prismi: -0,81% Renergetica: 1,28% Rosetti Marino: 0,00% S.M.R.E.: 0,00% Safe Bag: 5,48% Sciuker Frames: -0,70% SCM SIM: 0,00% SG Company: -0,22% SIT: -3,37% SITI B&T Group: -8,57% Softec: 0,00% Somec: -0,12% -3,67% Spactiv: -0,21% Spaxs: -13,87% Sprintitaly: -0,21% Telesia: -8,96% TheSpac: 2,04% TPS: -2,22% Vei 1: -1,05% Vetrya: -4,86% Vimi Fasteners: -2,79% Visibilia Editore: -12,79% WIIT: 4,65% WM Capital: -11,08%