algoWatt and Italeaf sign the Recovery Agreement with the Sole Representative of the Bondholders

algoWatt and Italeaf sign the Recovery Agreement with the Sole Representative of the Bondholders

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.

This press release is available on the Company's website www.algowatt.com

algoWatt (ALW), greentech solutions company, designs, develops and integrates solutions for energy and natural resource management in a sustainable and socially responsible manner. The Company provides management and control systems that integrate devices, networks, software and services with a clear sector focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt is the result of the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees located in 7 locations in Italy and investments in research and innovation for more than 12% of turnover, operates with an efficient corporate organization, focused on the following markets: Green Energy Utility: renewable energy, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, shared and on demand. Different markets, a single focus: sustainability. algoWatt is listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana S.p.A..

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Attachment

• ALGOWATT_PR26_22-06-2021 (EN)