Italeaf: Ordinary Shareholders' Meeting to approve the 2018 financial statements and acknowledgement of the Recovery Plan - (correction: the MAR-legend was inserted by mistake in the last press release, it has now been removed)

PRESS RELEASE 23 MARCH 2020

Italeaf: Ordinary Shareholders' Meeting to approve the 2018 financial statements and acknowledgement of the Recovery Plan

(correction: the MAR-legend was inserted by mistake in the last press release, it has now been removed)

• Approved the 2018 financial statements and acknowledged the Group's 2018 consolidated financial statements
• The loss for 2018 will be carried forward
• Acknowledgement of the guidelines of the Recovery Plan and the progress of the negotiations for the Financial Agreement

The Ordinary Shareholders' Meeting of Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, was held on 23 March 2020 at the company's headquarters in Narni (TR).

Resolutions

The Shareholders' Meeting resolved in favour of all the items on the agenda, in accordance with the proposals described in the notice of call. The most relevant resolutions are described below:

       ·The financial report for the year ended 31 December 2018 has been approved and the consolidated financial statements for the year ended 31 December 2018 has been acknowledged.

       ·The Shareholders' Meeting resolved to carry forward the loss for the year 2018 equal to Euro 14,449,706.00.

       ·The Shareholders' Meeting acknowledged the informative report offered by the Board of Directors on the contents of the recovery plan underlying the preparation of the financial statements for the year ended 31 December 2018. 

This press release is also available on the Company website:

Certified Adviser

Mangold Fondkommission AB, +46 (0)8 5030 1550, email: , is the Certified Adviser of Italeaf SpA on Nasdaq First North.

For further information please contact:

Claudio Borgna CFO – Italeaf S.p.A.

Email:

Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, and at Milano.

The company controls the smart energy company TerniEnergia, listed on the MTA of the Italian Stock Exchange, Skyrobotic, active in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market, Numanova, operating in the field of innovative metallurgy and additive manufacturing, and Italeaf RE, a real estate company. Italeaf holds, among others, a minority stake in Vitruviano LAB, a research center active in the R&D sector for special materials, green chemistry, digital transformation and cleantech.

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