Italeaf: the Board of Directors of TerniEnergia the Board of Directors approves the postponement of the approval of the financial statements as at 31
PRESS RELEASE 22 MARCH 2019
Italeaf: the Board of Directors of TerniEnergia the Board of Directors
approves the postponement of the approval of the financial statements as at
31 December 2018
* Update on the calendar of corporate events: approval of the draft
annual financial statements and the consolidated financial statements
as at 31 December 2018 is postponed to a date between 17 and 28 June
* The decision taken to align the approval of the results in time with
the signing of the restructuring agreement with the creditors, on the
basis of the proposed Recovery and relaunch plan of the Company
The Board of Directors of TerniEnergia S.p.A. (TerniEnergia or the
Company), a smart energy company listed on MTA of Borsa Italiana and part
of the Italeaf Group, which met today, resolved to postpone the approval of
the draft financial statements and the consolidated financial statements as
at 31 December 2018 with respect to the date indicated in the annual
financial calendar, communicated on 16 January 2019.
In this regard, the Companys Board of Directors has noted that:
1. on 26 February 2019, as indicated in the relevant press release
(available on the website www.ternienergia.com
http://www.ternienergia.com , section Press Releases), it was
approved the update of the proposed Recovery and relaunch plan with
respect to the version approved on 25 October 2018, aimed at
restoring the financial and equity balance of the Company in the long
term; a plan the reasonableness of which must be certified by a
professional advisor pursuant to art. 67, paragraph 3, letter d) r.d.
267/42 for the period 2018-2022 (the Plan), which was identified in
Dr. Massimiliano Bonamini (subject of proven experience in the
2. that are in progress negotiations with the creditors and bondholders,
on the basis of the approved Plan proposal, and that TerniEnergia has
reserved the right to follow the progress of negotiations with the
aim of concluding them and defining the plan by 30 June 2019.
Taking into account the state of progress of this process - of which the
market is and will be regularly informed - and the importance of the
outcome of the above negotiations aimed at reaching a restructuring
agreement that will enable the Company to rebalance itself economically and
financially, the Board of Directors has, therefore, deemed it appropriate
to postpone any decision on the approval of the draft annual and
consolidated financial statements as at 31 December 2018 until a later
date, indicatively between 17 and 28 June 2019, in order to be able to take
fully into account, in approving those financial data, the impacts arising
from the definition of the restructuring agreement.
The precise date of the Board meeting for the approval of the 2018
financial statements and the calling of the shareholders meeting will be
communicated to the market with a subsequent press release, in the manner
established by the applicable provisions.
TERNIENERGIA (TER. MI), established in September 2005 and part of the
Italeaf Group, is the first Italian global technological enabler, committed
to bringing energy solutions and efficient recovery of integrated and
sustainable resources to the world. Organized into two strategic business
lines (Assets and Smart solutions and services), with about 300 employees
and a geographical presence worldwide, with operative and commercial
offices, TerniEnergia develops innovative solutions, products and services
based on digital and industrial technologies for the energy supply chain,
grids, smart mobility, industrial automation and the recovery of marginal
TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled
Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the
objectives of increasing energy production from renewable sources, saving
energy and reducing emissions and actively participates in the energy
revolution of distributed power generation and smart grids, with innovative
TerniEnergia is the ideal partner for large utilities, distribution
operators and network operators, energy producers, public administrations,
industrial customers and investors who intend to realize large projects for
the production of renewable energy, modern systems and plants with high
energy efficiency, solutions for the management and maintenance of
infrastructure and electrical installations.
TerniEnergia has completed its transformation from a leader in the
international photovoltaic market into a smart energy company and
technological enabler for the sustainable use of resources through a
complete commercial offer of solutions, the development and supply of
digital technologies and the creation of intelligent services and
solutions aimed at public and private customers in emerging sectors.
TerniEnergia is listed on the MTA of Borsa Italiana.
This press release is also available on the Company website:
Italeaf SpA is obliged to make public this information pursuant to the EU
Market Abuse Regulation. The information was submitted for publication,
through the agency of the contact person set out below, at 12.40 CET on 22
Mangold Fondkommission AB, +46 (0)8 5030 1550, is the Certified Adviser of
Italeaf SpA on Nasdaq First North.
For further information please contact:
CFO Italeaf S.p.A.
Italeaf SpA,established in December 2010, is a holding company and a
business accelerator for companies and startups in the areas of innovation
and cleantech. Italeaf operates as a company builder, promoting the
creation and development of industrial startups in the fields of cleantech,
smart energy and technological innovation. Italeaf has headquarters and
plants in Italy at Nera Montoro (Narni), Terni, Milano and Lecce; has
international offices in London and Hong Kong.
The company controls the smart energy company TerniEnergia, listed on the
MTA of the Italian Stock Exchange, Skyrobotic, active in the business
development and manufacture of civil and commercial drones in mini and
micro classes for the professional market, Numanova, operating in the field
of innovative metallurgy and additive manufacturing, and Italeaf RE, a real
estate company.Italeaf holds, among others, a minority stake in Vitruviano
LAB, a research center active in the R&D sector for special materials,
green chemistry, digital transformation and cleantech.