Proposal to the Shareholders’ Meeting to change the company name to AlgoWatt S.p.A. and transfer the registered office to Milan. Following the merger by incorporation of Softeco Sismat Srl into TerniEnergia, the main operational headquarters will be located in Genova
- The new name linked to the reorganisation of the company into “One Smart Company” and to the new strategic positioning in the technological and digital sector
- Published the corporate events calendar 2020
The Board of Directors of TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, met today, approved the proposal to be submitted to the Extraordinary Shareholders’ Meeting to amend Articles 1 (company name) and 2 (registered office) of the Bylaws.
Specifically, the proposal requires the Company to adopt, as from the date of filing of the shareholders’ resolution in the Companies’ Register, the company name “AlgoWatt S.p.A.”, with registered office in Milan, Corso Magenta 85. This proposal is in continuity with the recent extraordinary transactions undertaken and, in particular, with the merger by incorporation of Softeco Sismat Srl (company with over 40 years of history in the ICT sector) into TerniEnergia (listed since 15 years on the Italian Stock Exchange and a leading player in the renewable energy and green industry sectors) and the implementation of the Group’s Recovery and Relaunch Plan. As part of the operational and industrial turnaround based on the “One Smart Company” model, the Company’s Board of Directors has therefore considered it crucial to reconsider the corporate identity and the strategic positioning to encourage the creation of value for all the stakeholders.
With the name AlgoWatt, a synthesis between algorithm, computer calculation process, and watt, unit of measurement of electrical power, identifies a System Integrator, also with strong skills in software development, focused on GreenTech, no longer operating in the utility sector but in the technological and digital one.
The transfer of the registered office to Milan will have both a functional and qualifying impact, signaling the Company’s willingness to strengthen its proximity to investors and involvement in the domestic market and to increase business opportunities in Italy, laying the bases for the wider international growth. The Company will have its main operational headquarters in Genova, where the core of its digital activities is located, as well as branches in Rome, Naples, Catania, Lecce and Narni (TR).
Finally, in order to facilitate the activity of financial market players, pursuant to art. 2.6.2 of the Regulation of Borsa Italiana S.p.A., TerniEnergia announces the dates scheduled in 2020 for the examination of economic and financial data by the Board of Directors and for the related disclosure, as well as the meetings and public events already scheduled:
Corporate Events Calendar 2020
2 March 2020 – Shareholders’ Meeting
Extraordinary Shareholders’ Meeting to approve the amendment of Articles 1 and 2 of the Articles of Association.
3 March 2020 – Corporate Event: Management Presentation
The presentation will take place from 11.00 AM CET in the Sala Cenacolo of the National Museum of Science and Technology “Leonardo da Vinci” – Milan.
21-24 April 2020 – Board of Directors
Meeting of the Board of Directors: approval of the draft financial statements for the year ended 31/12/2019 and the consolidated financial statements for the year ended 31/12/2019
25 – 29 May 2020 – Shareholders’ Meeting
Shareholders’ Meeting to approve the financial statements for the year ended 31/12/2019
3-7 August 2020 – Board of Directors
Meeting of the Board of Directors: approval of the half-yearly financial report at 30/06/2020
Please note that the dates set out in this press release are purely indicative: any changes, which may be made to the same, will in any case be promptly disclosed to the market, in the same manner provided for the dissemination of this press release.