OREANDA-NEWS. Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) announced today that the general meeting of shareholders has approved a demerger that is the initial step in FCA’s previously-announced plans to distribute the ordinary shares in RCS MediaGroup S.p.A. (“RCS”) held by FCA to the holders of its common shares.

FCA anticipates that the distribution of RCS ordinary shares will be effected through several transactions that are expected to take effect on May 1, 2016.

Subject to completion of such transactions, the record date for the distribution with respect to FCA common shares held through participants in the Monte Titoli system is expected to be May 3, 2016 and with respect to FCA common shares held through other participants in the DTC system is expected to be May 4, 2016, which accounts for the different standard settlement periods in the different primary markets (i.e. Borsa Italiana and the New York Stock Exchange).

RCS ordinary shares will be credited to the accounts of participants in the Monte Titoli system on May 4, 2016. Because RCS ordinary shares are capable of being delivered only to accounts of intermediaries that are participants in the Monte Titoli system, FCA shareholders that hold their common shares through intermediaries that are participants in the DTC clearing system will need to provide notice to Computershare on or before May 13, 2016 of the Monte Titoli participant account to which RCS shares should be credited, and, if proper notice is received, will receive RCS ordinary shares during the period between May 5 and May 17, 2016 depending on the date of their instructions.

FCA shareholders that hold FCA common shares through intermediaries that are participants in the DTC clearing system and that (i) do not make arrangements for RCS ordinary shares to which they would otherwise be entitled to be credited to an account of a participant in Monte Titoli on or before May 13, 2016, and (ii) do not provide proper notice of such account to Computershare on or before the same date, will have their entitlements to RCS ordinary shares aggregated and sold on the open market; the net proceeds after completing all such sales will be paid pro rata in cash to the holders of FCA common shares entitled thereto after conversion of any amount received in any other currency into US dollars.