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EAM Solar ASA (EAM.OL)

EAM.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

EAM Solar Q4 EBITDA loss narrows to EUR 99,000
Wednesday, 15 Feb 2017 01:00am EST 

EAM Solar ASA : Q4 revenue 692,000 euros ($732,205.20) versus 9.8 million euros year ago .Q4 EBITDA loss 99,000 euros versus loss 24.3 million euros year ago.  Full Article

EAM Solar updates on P31 acquisition legal status
Friday, 23 Sep 2016 12:00pm EDT 

EAM Solar ASA : Gives legal status update on P31 acquisition . Says has six separate legal proceedings in progress or recently finalised, and between two and four further civil and criminal legal processes underway to be formally initiated . Says that as for proceeding in Criminal Court of Milan, in court ruling issued Sept. 13, the court judged that Aveleos SA is merely alter ego of Enovos Luxembourg SA and Avelar Energy Ltd and as such Enovos and Avelar are financially liable parties; next session is on Nov. 2, and in total eight trial sessions has been scheduled between November 2016 and March 2017 . Says that on June 9 Administrative Court of Lazio issued ruling that gave support and legal verification of termination decision by GSE, thus making termination lawful fact; earlier EAM appealed GSE's termination decision . Says prosecutors office in Luxembourg currently handles criminal complaints filed by, among others, EAM Solar against Enovos Group and managing directors in Enovos . Says civil action in Luxembourg contains damages claims in excess of 215 million euros ($241 million) . Says on Sept. 20 Aveleos asked court of Luxembourg for postponement of proceeding wherein Aveleos summoned EAM in Luxembourg court with regards to standstill agreement between parties; postponement was granted until January 2017 . Says SPVs filed for voluntary liquidation and bankruptcy procedure with Bankruptcy Court of Milan on Sept. 22.  Full Article

EAM Solar Q2 EBITDA falls to EUR 169,000
Friday, 19 Aug 2016 01:37am EDT 

EAM Solar ASA : Reported on Thursday Q2 revenue of 1.9 million euros ($2.15 million), down from 4.2 million euros in Q2 2015 .Q2 EBITDA 169,000 euros versus 3.1 million euros year ago.  Full Article

EAM Solar sells EAM Solar Italy 3 Srl for EUR 3.6 million
Wednesday, 22 Jun 2016 01:29am EDT 

EAM Solar ASA : Said on Tuesday it had sold EAM Solar Italy 3 Srl for 3.6 million euros ($4.05 million) .Said sale secures funding for extraordinary legal costs relating to legal proceedings following P31 fraud and for general corporate purposes.  Full Article

EAM Solar Q1 EBIT loss EUR 1.1 million
Tuesday, 24 May 2016 02:39am EDT 

EAM Solar ASA : Q1 revenue 919,000 euros ($1.03 million) versus 2.4 million euros year ago .Q1 EBIT loss 1.1 million euros versus loss 296,000 euros year ago.  Full Article

EAM Solar updates on criminal proceedings in Milano
Wednesday, 16 Mar 2016 02:05am EDT 

EAM Solar ASA:Says judge in Criminal Court of Milan has ruled that all indicted will be committed to trial on all charges​.Says for the company this means that judge has ruled that EAM is victim of a criminal contractual fraud and that Enovos and Avelar are financially liable for damages incurred​.  Full Article

EAM Solar ASA terminates feed in contract
Wednesday, 25 Nov 2015 02:15pm EST 

EAM Solar ASA:Gives notice of termination of feed in tariff contract received for two power plants in P31 portfolio.Termination concerns two single purpose vehicles and two power plants purchased under P31 acquisition.Termination decision may be appealed in Administrative Court.  Full Article

EAM Solar: termination of feed in tariff contract for 12 power plants in P31 portfolio
Monday, 23 Nov 2015 02:29am EST 

EAM Solar ASA:Has received a notice of termination of the feed in tariff contract received for 12 power plants in the P31 portfolio.Termination concerns 3 single purpose vehicles and 12 power plants purchased under P31 acquisition, all under Conto Energia II FIT contracts.  Full Article

EAM Solar terminates feed in tariff contract received for three power plants
Thursday, 29 Oct 2015 04:01am EDT 

EAM Solar ASA:Company received late last night notice of termination of the feed in tariff contract for three of the 17 suspended power plants from Gestore Servizi Energetici.Termination involves one company and three power plants purchased under P31 acquisition.  Full Article

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