Nextil To Hold 70% Majority Stake in Portuguese Sindutex

About this update from Nueva Expresion Textil, S.a.

Nueva Expresion Textil SA BME:NXT:SIGNS MOU WITH PORTUGUESE SINDUTEX AND MAIN SHAREHOLDERTRANSACTION VIA CAPITAL INCREASE IN SINDUTEX OF EUR 1.8 MILLION TO BE FULLY SUBSCRIBED BY NEXTILTO HOLD 70% MAJORITY STAKE IN SINDUTEX AFTER CAPITAL INCREASETRANSACTION WILL ENABLE NEXTIL TO DIVERSIFY CUSTOMER BASE AND PRODUCT MIX, GENERATING SIGNIFICANT SYNERGIES WITH EXISTING OPERATIONS IN PORTUGAL

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