“Our company has been characterized since its incorporation for its skill in catching growth and development opportunities in its reference market. Over the years it was able to create a business model which ensured growing volumes and margins, thus overcoming the targets that were communicated from time to time to the market, keeping an asset and financial structure which has always been in balance. Thanks to the significant growth as compared to the last year, which overcame our expectations, leading us to consider the esteems contemplated in the industrial plan of last November overcome too, the share capital transaction aims at creating the best conditions for strengthening the leading position that was already achieved in the market. At the same time, we want to grant to the institutional investors access to the share capital. Although the share capital increase could cause a significant reduction of the control share held by the controlling shareholder, such a transaction is deemed fully appropriate in order to support the strong trend of growth and exploit fully the opportunities offered by the photovoltaic market. Notably, we believe that strong potentialities of development that do still characterize this sector, both in Italy and abroad, as well as the undergoing strategy of diversification towards the power generation, put TerniEnergia in the best conditions for speeding up its growth track. Indeed, the Company wishes to construct on its own account and to sell industrial sized plants already connected to the net and fully running. The proposal to the shareholders’ meeting of approving the request of admission of the Company to the STAR segment completes our development project, and it shall permit to qualify our company between the top-notch Italian companies and to affirm ourselves in the industrial and financial international scenario, so creating a higher value also for the current shareholders” Stefano Neri, Chairman and CEO
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