(Finance) – The Board of Directors of Ecosunteka company active in the renewable energy sector and a reference player in power generation, listed on the Euronext Growth Milan market, has examined and approved the operation between its subsidiary Enrit and its related company Deawayhaving as its object the purchase by Enrit of Deaway’s entire holdings in four project companies – Enrit Solar Bisignano 1, Enrit Solar Scalea 1, Enrit Solar Scalea 2 and Enrit Solar Camigliatello 1 – overall owners of authorizations for the construction of plants for the production of electricity from agri-voltaic sourcesof the overall power of 23 MWp. The program provides that the Projects will be realized and connected to the national electricity grid by the first half of 2026.
The Transaction brought to the attention of the Board of Directors of the Company involves, on the one hand, Enrit, whose 51% of the share capital is held by Ecosuntek and, on the other hand, Deaway which is a related party of the Company, in since, although it holds a minority stake in Enrit – equal to 49% of the share capital – Enrit’s Articles of Association prescribe the favorable vote of the shareholder for the adoption of resolutions, both at the shareholders’ meeting and at the board of directors minority on some of the matters relevant to corporate operations, he is also a member of the Board of Directors of Enrit, the person at the top of Deaway’s control chain.
For the sale of the shareholdings in question, the parties have valued the shares of the four project companiesholders of an authorized power of 23 MWp, to a total price of approximately 4,880,849 euros. With regard to the method of payment of the Price, Enrit and Deaway have agreed that: by 12 months from the date of signing of the deeds of sale of the Enrit company shares
will correspond to Deaway 1,430,849.96 euros. The balance of the residual sum of the Price equal to 3,450,000 euros must also be paid within 12 months from the date of signing the deeds of sale of the shares.