April 27, 2018 / 7:24 PM / 6 months ago

BRIEF-Italeaf S.P.A. Board Approved Year End Report For 2017

April 27 (Reuters) - Italeaf SpA:

* REG-ITALEAF S.P.A. : THE BOARD OF DIRECTORS APPROVED THE YEAR END REPORT FOR 2017

* BOARD OF DIRECTORS APPROVED YEAR END REPORT FOR 2017 EXAMINED STRATEGIC GUIDELINES OF GROUP’S BUSINESS AND RECOVERY PLAN

* EXTRAORDINARY TRANSACTIONS ARE PLANNED TO REDUCE AND ACCELERATE REPAYMENT OF CURRENT BANK EXPOSURE

* NET ASSET VALUE (NAV) OF EURO 24.1 MILLION (EURO 1.41 PER SHARE) AS AT 31 DECEMBER 2017

* CONSOLIDATED NET LOSS OF EURO 40.8 MILLION FOR 2017 (A LOSS OF EURO 0.9 MILLION FOR ITALEAF, GROUP’S PARENT COMPANY)

* 2017 CONSOLIDATED REVENUES OF EURO 64.3 MILLION (EURO 3.7 MILLION FOR ITALEAF, GROUP’S PARENT COMPANY)

* BOARD OF DIRECTORS PROPOSED TO CARRY FORWARD LOSS FOR YEAR 2017

* RESIGNATION OF CHAIRMAN OF BOARD OF STATUTORY AUDITORS PAOLO SEBASTIANI, NEW AUDITOR CATERINA BRESCIA

* MANAGEMENT HAS BEGUN A PROCESS OF OPTIMISING AND RATIONALISING OF OPERATING AND STRUCTURAL COSTS OF ITALEAF S.P.A

* ANDREA BELLUCCI APPOINTED CHAIRMAN OF BOARD OF STATUTORY AUDITORS Source text for Eikon: Further company coverage:

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