The Noteholders’ Meeting of the bond Algowatt Tv Eur6m+1,5 Dc27 Amort – ISIN Code: IT0004991573 approves the amendment of the loan Terms and Conditions

The Noteholders’ Meeting of the bond Algowatt Tv Eur6m+1,5 Dc27 Amort – ISIN Code: IT0004991573 approves the amendment of the loan Terms and ConditionsalgoWatt S.p.A., GreenTech Solutions Company listed on the Italian Stock Exchange (MTA), announces that the bondholders’ meeting (the “Bondholders’ Meeting”) of the Algowatt Tv Eur6m+1,5 Dc27 Amort bond – ISIN Code: IT0004991573 met in first call on today, 22 December 2020 at 12 AM (CET) under the chairmanship of Stefano Neri and in the presence of Notary Dario Restuccia from Milano, was attended by bondholders representing 50,8% of the bond.
The Bondholders’ Meeting resolved, with the majorities required by law, to further amend the bond Terms and Conditions and, in the immediate term, to grant a waiver to the provisions of the loan Terms and Conditions, also in order to preserve the business and operational continuity of algoWatt and Italeaf during the period of time required to prepare the New Financial Maneuver.
Specifically, the Bondholders’ Meeting approved:the granting of a waiver to the provisions of Article 6 (“Redemption, purchase and cancellation”), paragraphs 6.1 and 6.2 of the Loan Terms and Conditions; and (ii) the temporary suspension of the provisions of Article 7 (“Events of default”), letters (a) and (g) of the Loan Terms and Conditions, with reference to the Company’s failure to fulfil its obligations to pay the principal and interest due on the Bonds, as well as with reference to the Company’s failure to fulfil its payment obligations under the certified plan for the rehabilitation of the Company’s debt exposure and the rebalancing of its financial situation pursuant to Article 67, paragraph 3, letter d) Bankruptcy Law prepared by the Company in September 2019;to grant powers to the representative of the bondholders, Mr. Marzio Molinari, to execute with algoWatt S.p.A. a de non-petendo pactum that implements the resolutions referred to in the previous paragraph;as a result of the signing of the non-petendo pactum referred to in item 2 of the agenda, the appointment by the company of an advisor, to be designated from among a group of professionals indicated by the bondholders, to carry out an Independent Business Review (IBR) on the company’s business plan.The approval of the items on the agenda by the Bondholders’ Meeting represents an important step in updating and revising algoWatt’s Recovery and Relaunch Plan.
The minutes of the Bondholders’ Meeting and the summary voting report will be made available to the public within the time limit set by the applicable regulatory provisions. A copy of the aforementioned documents will be published on the website www.algowatt.com and on the regulated information storage system 1Info at the URL www.1Info.it.
algoWatt is assisted by R&S Advisory S.r.l. as financial advisor and by Studio Legale Fallanca-Scicolone & Partners, in the person of Avv. Marco Scicolone, for the legal advisory activities. Lawyer Marzio Molinari of Studio Russo De Rosa Associati is the common representative of the bondholders.This press release is available on the Company’s website www.algowatt.comalgoWatt (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..For further info:AttachmentALGOWATT_PR48_22-12-2020 (EN)