Italeaf SpA, holding company, announces that the Board of Directors has resolved to postpone the approval of the draft financial statements and consolidated financial statements for 2019, as well as the half-yearly financial report at 30 June 2020, until a date to be determined at a subsequent meeting.
The decision was made in reason:
a) the resolution taken on 4 August 2020 by the Board of Directors of the subsidiary algoWatt S.p.A. (formerly TerniEnergia), the main asset of the holding company, to postpone the approval of its draft financial statements and consolidated financial statements as at 31 December 2019 and the half-yearly financial report as at 30 June to a date to be determined with a subsequent meeting of the Board of Directors within the last decade of October 2020;
b) the willingness of the Group’s management, assisted by its Financial Advisor, to verify the impact of the COVID-19 emergency on the process of updating and finalizing the Recovery and Relaunch Plan already announced and the related Financial Agreement.
