MILAN: Corporate and financial communications firm Barabino & Partners
has announced the re-assignment of 20 per cent of its shares, previously
held by founders Luca Barabino and Luisa Robba.
The redistribution of the stock will allow the firm - which has offices
in Rome, Milan, Genoa and Brussels - to provide share options as part of
its staff reward scheme.
Seven per cent of the company will be awarded to newly-appointed
partners Frederico Steiner (three per cent), Robero Stasio, and Luca de
Giovanni (two per cent each).
In addition, a further seven per cent has been acquired by the company
itself, to be used in a future stock options plan at the end of 2004
which will benefit the firm's three partners and senior management.
A further six per cent interest in the firm has been purchased to fund
future staff option schemes.
Barabino & Partners is Italy's largest PR agency and is headed by
president and MD Barabino.
Edited by Holly Williams.