PRESS RELEASE 24 JULY 2017
ITALEAF: on September 29 will be published the half-yearly financial report 2017
Italeaf, financial holding Company and first Italian Company Builder, active in cleantech and smart innovation, listed on Nasdaq First North, announce that the Company has received from Nasdaq an exemption from the rules to publish its half-yearly report within two months. As a consequence of this authorization, the Board Meeting for the approval of the half-year financial report, previously scheduled between July 31 and August 4, will be held on September 29, 2017. In the same date the half-yearly report will be published.
The Company notes that the delay is determined by the decision taken by TerniEnergia, the main company of the Italeaf Group, to use the faculty under Italian law to approve its half-yearly financial report on 28 September 2017, within three months of the end of the period. Italeaf notes that this decision was taken by TerniEnergiain consequence that on June 1, 2017, the Board of TerniEnergia S.p.A. has conferred wide management powers to eng. Piero Manzoni. The newly elected CEO has the target to develop a new Industrial Plan aimed at enhancing the Group's technological strengths. On May 2, 2017, the Shareholders' Meeting also assigned the mandate for the statutory audit of the consolidated and separate financial statements and for the consolidated half-yearly report of TerniEnergia SpA to the company EY SpA, for the years 2017 to 2025. Finally, on July 7, 2017, the Board of TerniEnergia conferred a mandate to a Financial Primary Advisor to assist the Company in preparing the new Industrial Plan and to verify the possible ways for a financial consolidation.
Taking note of these circumstances, Italeaf considered appropriate to postpone the approval of the half-yearly financial report as outlined above, in order to be able to estimate the half-year results and the prospective elements of TerniEnergia's new Industrial Plan.
This press release is also available on the Company website: www.italeaf.com
Certified Adviser
Mangold Fondkommission AB, +46 (0)8 5030 1550, is the Certified Adviser of Italeaf SpA on Nasdaq First North.
For further information please contact:
Filippo Calisti
CFO - Italeaf S.p.A.
E-mail: calisti@italeaf.com
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 and a research and development centre in the Hong Kong Science and Technology Park.
The company controls TerniEnergia, listed on the STAR segment of the Italian Stock Exchange and active in the fields of renewable energy, energy efficiency and waste management, and Skyrobotic, 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 a minority stake in Vitruviano LAB, a research center active in the R&D sector for special materials, green chemistry, digital transformation and cleantech.
