1). Criminal Court Milan
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On 4 July 2024, the Court of Appeal of Milan issued its decision in the ongoing proceedings against Marco Giorgi and Igor Akhmerov, amongst others. The court upheld the convictions of Akhmerov and Giorgi for indictment counts B) and D) against the State of Italy, but overturned their convictions under indictment count F) in relation to EAM.
On 11 October 2024, EAM submitted an appeal to the Supreme Court of Cassation asking it to once again set aside the judgement from the appeal court. The grounds for this appeal can be read in previous stock exchange notices. Aveleos, Avelar, SAEM, Akhmerov, Giorgi and Sebastiano Maggi have also decided to appeal. No determinations have yet been made by the Court of Cassation as to timelines or hearing dates.
2). UBI Banca Case in Brescia
On 3 December 2024, the final hearing took place in the matter against UBI Banca, now Intesa Sanpaolo, in the court of Brescia. A decision is expected in the coming weeks.
3). ENFO 25
Earlier this year EAM applied under the amnesty scheme for a reinstatement of ENFO 25’s Feed-in Tariff. The GSE accepted this application on 11 October 2024. The Feed-in Tariff was restored in early December 2024.
On 14 December 2024 EAM was informed by GSE of a reimbursement representing the discounted pay-back for the period of time in which the tariff was suspended. A payment is expected within the next month.
For further information, please contact:
Viktor E Jakobsen, Chair, phone +47 9161 1009, viktor@eam.no
About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts. In addition, the Company’s business is lawsuits in relation acquisition of solar power plants.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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