Italeaf S.p.A.: on April 27th 2018 will be published the financial statements as at December 31st, 2017
PRESS RELEASE 30 MARCH 2018
ITALEAF: on April 27th 2018 will be published the financial statements as at December 31st, 2017
Italeaf, holding company and first Italian company builder, active in the cleantech and smart innovation sectors, listed on the Nasdaq First North in Stockholm, announces that the Company has obtained authorisation from Nasdaq to approve the 2017 consolidated financial statements and the separate financial statements of the Parent Company beyond the three months from the end of the year as required by market regulations.
As a result of this exemption, the Board of Directors for the approval of the yearly financial statements, previously scheduled for today's date, will be held on 27 April 2018. At the end of the meeting of the Board of Directors, on the same date, the financial statements of Italeaf as at December 31, 2017 will be published.
The Company underlines that the postponement was determined by the decision taken by TerniEnergia, the main company of the Italeaf Group, to use the faculty, provided for by Italian regulations, to approve the draft of the separate financial statements as at 31 December 2017 and the consolidated financial statements on next 27 April 2018, within four months of the end of the period.
This decision was taken by TerniEnergia on the basis of the opportunity to complete, before the approval of the financial statements, the new recovery and relaunch plan, aimed at pursuing, in the medium term, the transformation of the Company into a smart company and overcoming the current financial stress of the Group, based on strategic guidelines identified by the Board of Directors, as announced on 27 March 2018.
Having taken note of these circumstances, Italeaf has decided to postpone the approval of the financial statements, as highlighted above, in order to be able to incorporate the results and the prospective elements of the TerniEnergia industrial plan.
This press release is also available on the Company website: www.italeaf.com
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 15.00 CET on 30 March 2018.
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 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.