Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the Board of Directors) met today, resolved to postpone the approval of the draft financial statements and consolidated financial statements for 2019 to a date to be determined at a subsequent meeting.
The decision was taken in reason:
- of the resolution taken on 21 April 2020 by the Board of Directors of the subsidiary algoWatt S.p.A. (formerly TerniEnergia), main asset of the holding company, to postpone the approval of its draft financial statements and consolidated financial statements at December 31, 2019 to a date to be determined at a later Board of Directors meeting;
- obtaining a complete information picture in the light of the events after the end of the 2019 financial year and, in particular, the evolution of the ongoing epidemiological emergency, also taking into account the ESMA Recommendation of 11 March 2020 on market disclosure of the impacts of COVID-19 by listed issuers, and recent government business support measures. Specifically, the Board of Directors intends to verify the impacts of the COVID-19 emergency on the process of updating and finalizing the Recovery and Relaunch Plan already announced and the related Financial Agreement.