- Update of the corporate event agenda
The Board of Directors of TerniEnergia S.p.A. (“TerniEnergia” or the “Company”), which met today, approved the final draft of the Recovery and relaunch plan for the period 2018-2022, aimed at restoring the financial and equity balance of the Company, pursuant to Article 67, paragraph 3, letter d) r.d. 267/42 (the “Plan”).
The final version of the Plan approved by the Board of Directors, prepared with the assistance of KPMG as industrial and financial advisor and (limited to legal aspects) of the law firm DLA Piper as legal advisor, does not contain substantial changes with respect to the terms and conditions of the Plan (and the related financial package) as communicated to the market on 27 June 2019, thus reconfirming the main strategic repositioning objectives described in more detail therein.
Updating of the corporate events agenda
Following the press release issued on 27 June 2019, to which reference should be made, the Board of Directors acknowledged that negotiations with the creditors are being finalized on the basis of the Plan approved today.
Taking into account the progress of this process – of which the market is and will be regularly informed – and the importance of the outcome of the above negotiations aimed at reaching a financial agreement in execution of the Plan that will enable the Company to rebalance its economic and financial position, the Board of Directors has therefore, deemed it appropriate to postpone any decision on the approval of the draft financial statements and the consolidated financial statements as at 31 December 2018 until a later date, between 19 and 27 September 2019, in order to be able to take fully into account, in the approval of these financial data, the impacts arising from the definition of the restructuring agreement.
The precise date of the Board meeting for the approval of the 2018 financial statements and for the calling of the Shareholders’ Meeting will be communicated to the market with a subsequent press release, in the manner established by the applicable provisions.