algoWatt S.p.A., GreenTech Solutions Company listed on the MTA market of Borsa Italiana, announces that, today, Mr. Stefano Neri, as Chairman of the Board of Directors and legal representative of algoWatt, duly authorised by virtue of the resolution adopted by the Board of Directors on 21 June 2021, and Ms. Monica Federici, as Managing Director and legal representative of the parent company Italeaf S.p.A., duly authorized by a resolution of the Board of Directors on 21 June, and Mr. Marzio Molinari, as sole representative of the subscribers of the bond called “Algowatt Tv Eur6m+1.5 Dc27 Amort Eur”, listed on the ExtraMOT PRO market, organized and managed by Borsa Italiana S.p.A., duly authorised by virtue of the resolution passed by the Bondholders’ Meeting on 30 April 2021 and in compliance with the provisions of the pactum de non petendo signed inter partes on 22 December 2020, on the other hand, signed the Recovery Agreement pursuant to Article 67, paragraph 3, letter d) of the Bankruptcy Law, consistent with the provisions of the Plan for the Recovery of the debt exposure of algoWatt and Italeaf and the rebalancing of their financial situation pursuant to Article 67, paragraph 3, letter d) Bankruptcy Law approved yesterday, 21 June 2021, by the Boards of Directors of the Companies.
This fulfilment is part of the activities resolved by the Board of Directors of the Company on 21 June 2021 and represents the first important step in the implementation of the commitments undertaken therein, aimed at achieving the completion of the Recvoery Agreement by the scheduled deadline of 9 July 2021. The effects of the signed Agreement shall be retroactive, in any case, to today’s date of June 22, 2021 (the “Effective Date”).
algoWatt is assisted by R&S Advisory S.r.l. as financial advisor and by Studio Legale Fallanca Scicolone & Partners, in the person of Marco Scicolone, lawyer, for legal advisory activities. Marzio Molinari of Studio Russo De Rosa Associati is the sole representative of the bondholders.
