THE SHAREHOLDERS’ MEETING HAS APPROVED THE INCREASE IN CAPITAL WITH EXCLUSION OF SUBSCRIPTION RIGHT
- The operation aims at obtaining further financing following that acquired with the stock exchange listing of 25 July, for the Company expansion
- The aim is to consolidate national leadership in the manufacture sector of medium and large photovoltaic plants
- Consolidation of the current joint ventures is provided for as well (EDF EN and Cogne Acciai speciali)
TerniEnergia Spa shareholders’ meeting, presided over by Stefano Neri, has approved the capital increase with exclusion of subscription right according to article 2441, fourth paragraph, second period, of the Civil Code, after incorporating the relative option deliberated by the same meeting with the Articles of Association
The shareholders’ meeting has decided to issue 2,400,000 new shares, a percentage lower than 10% of the social capital, to be offered, within a private employment of the same, to Italian and foreign institutional investors as well as to industrial investors by 31 March 2009.
The operation aims at enlarging TerniEnergia stock of shares so that the company will have a further financial channel at its disposal for growth and investments, thus carrying on the expansion process already started up with the stock quote on the Espandi Market.
Moreover, the shareholders’ meeting has deliberated that the minimum issue share price under placement is Euro 1.6 per share.
By increasing its capital, TerniEnergia mainly aims at consolidating its national leadership in the manufacture sector of medium and large photovoltaic plants.
The company will be also able to support further development of the SolarEnergy Srl and EnergiaAlternativa Srl joint ventures for the production of photovoltaic electricity. T.E.R.N.I. SolarEnergy has already reached important targets in the production of electrical power. Standing at 30 September 2008, six plants with an overall power of 5.7 MWp have already been produced, four of which already operative for a total of 3.1 MWp.
