The Board of Directors of TerniEnergia S.p.A. (“TerniEnergia” or the “Company”), a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, which met today, approved the final draft of the Recovery and relaunch plan for the period 2018-2022, aimed at restoring the financial and equity balance of the Company, pursuant to Article 67, paragraph 3, letter d) r.d. 267/42 (the “Plan”).
The final version of the Plan approved by the Board of Directors, prepared with the assistance of KPMG as industrial and financial advisor and (limited to legal aspects) of the law firm DLA Piper as legal advisor, does not contain substantial changes with respect to the terms and conditions of the Plan (and the related financial package) as communicated to the market on 27 June 2019, thus reconfirming the main strategic repositioning objectives described in more detail therein.
Updating of the corporate events agenda
Following the press release issued on 27 June 2019, to which reference should be made, the Board of Directors acknowledged that negotiations with the creditors are being finalized on the basis of the Plan approved today.
Taking into account the 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 financial agreement in execution of the Plan that will enable the Company to rebalance its economic and financial position, the Board of Directors has therefore, deemed it appropriate to postpone any decision on the approval of the draft financial statements and the consolidated financial statements as at 31 December 2018 until a later date, between 19 and 27 September 2019, in order to be able to take fully into account, in the approval of these 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 for 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 resources. 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 digital solutions.
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.