06.09.2017 EAM Solar ASA : Share capital increase

NOT  FOR  DISTRIBUTION  OR  RELEASE,  DIRECTLY  OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS  TERRITORIES AND POSSESSIONS, ANY STATE OF  THE UNITED STATES OF AMERICA AND THE  DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
 
 

Reference is made to previous stock exchange announcements regarding the rights issue (the "Rights Issue") by EAM Solar ASA (the "Company") of 1,250,000 new shares with a nominal value of NOK 10 each (the "Offer Shares") at a subscription price of NOK 24 per Offer Share.

The share capital increase pertaining to the Offer Shares has now been registered with the Norwegian Register of Business Enterprises.

The Company's share capital has consequently increased with NOK 12,500,000 to NOK 68,522,100. The Company's new registered share capital after the registration of the Offer Shares is NOK 68,522,100 divided into 6,852,210 shares, each with a nominal value of NOK 10.

For further queries, please contact:

Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This  information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IMORTANT INFORMATION:

This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.

This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.

The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").

The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

29.08.2017 EAM Solar ASA : Disclosure of shareholdings

29 August 2017 
 
 
Reference is made to the rights issue of EAM Solar ASA and the capital increase towards EAM Solar Park Management AS, both approved at the extraordinary general of EAM Solar ASA on 8 August 2017. Sundt AS was on 29 August 2017 allocated 214,580 shares in the rights issue. 
 
Before this, Sundt AS held 840,000 shares, which represented 16.57% of the share capital before the capital increases approved at the extraordinary general meeting on 8 August 2017, and 14.994% of the share capital after the registration of the capital increase towards EAM Solar Park Management AS on 9 August 2017. 
 
After the allocation of the new shares, Sundt AS holds 1.054.580 shares and votes in EAM Solar ASA, equal to 15.39% of the share capital.
 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.
 
 
For further information please contact Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

29.08.2017 EAM Solar ASA : Disclosure of shareholdings

AS Brdr Michaelsen Avd Norge which is indirectly controlled by Christian Hagemann  (COO of EAM Solar ASA), has today acquired 350 shares at a price of NOK 33.30 per share in EAM Solar ASA ("EAM"). After the acquisition Christian Hagemann and his associated companies hold 5,000 shares in EAM, representing 0.07 % of the shares and votes in EAM.

 

For more information or questions, please contact:

 

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.

29.08.2017 EAM Solar ASA : Disclosure of shareholdings

Reference is made to previous stock exchange announcements regarding the rights issue (the "Rights Issue") by EAM Solar ASA (the "Company") of 1,250,000 new shares with a nominal value of NOK 10 each (the "Offer Shares") at a subscription price of NOK 24 per Offer Share, and the final result of allocation of Offer Shares in the Rights Issue announced today.
 
 
 
The following allocations of shares have been made to the Company's primary insiders in the Rights Issue:
 
 
Wiborg Kapitalforvaltning AB, a company controlled by Ragnhild Wiborg, chairperson of the board of directors of EAM Solar ASA, has been allocated 765 Offer Shares. After this, Ragnhild Wiborg and her close associates hold a total of 3,765 shares in EAM Solar ASA.
 
 
AS BRDR MICHAELSEN AVD I NORGE, a company controlled by Christian Hagemann, COO of EAM Solar ASA, has been allocated 945 Offer Shares. After this, Christian Hagemann and his close associates hold a total of 4,650 shares in EAM Solar ASA.
 
For further queries, please contact:
Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.

29.08.2017 EAM Solar ASA : Final results of rights issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

 

29 August 2017. 

 

Reference is made to previous stock exchange announcements regarding the rights issue (the "Rights Issue") by EAM Solar ASA (the "Company") of 1,250,000 new shares with a nominal value of NOK 10 each (the "Offer Shares") at a subscription price of NOK 24 per Offer Share. 

 

The subscription period for the Rights Issue expired 28 August 2017 at 16:30 hours (CET). The final result shows that a total of 2,604,740 Offer Shares were subscribed for during the subscription period. The Rights Issue has consequently been oversubscribed by approximately 108 per cent.

 

The allocation of the Offer Shares is based on the allocation criteria set out in the prospectus dated 8 August 2017 (the "Prospectus"). A total of 1,250,000 Offer Shares have been allocated. Approximately 1,161,721 Offer Shares have been allocated to subscribers on the basis of exercised subscription rights. Approximately 88,279 Offer Shares have been allocated to holders of subscription rights as a result of oversubscription. No Offer Shares have been allocated to subscribers without subscription rights. 

 

Notices of allocation of Offer Shares and the corresponding subscription amount to be paid by each individual subscriber are expected to be distributed today. Payment for the allocated shares falls due on 31 August 2017 in accordance with the payment procedures described in the Prospectus.

 

The Offer Shares may not be transferred or traded before they are fully paid and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises. It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 4 September 2017 and that the Offer Shares will be transferred to the VPS accounts of the subscribers and admitted to trading on the Oslo Axess on the same day.

 

Through the Rights Issue, the Company will receive proceeds of NOK 30 million before the deduction of transaction costs. The Company's general meeting resolved on 8 August 2017 to increase the share capital of the Company by NOK 12,500,000 through the issue of 1,250,000 Offer Shares in the Rights Issue. Following registration of the share capital increase in the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 68,522,100, divided into 6,852,210 shares, each with a nominal value of NOK 10.

 

Carnegie AS acts as manager of the Rights Issue. 

 

For further queries, please contact:

Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.

 

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 

This  information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

 

IMPORTANT INFORMATION:

 

This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.

 

This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.

 

The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").

 

The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

 

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

 

This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

28.08.2017 EAM Solar ASA : Preliminary results of rights issue

28 August 2017. 
 
 
Reference is made to previous stock exchange announcements regarding the rights issue (the "Rights Issue") by EAM Solar ASA (the "Company") of 1,250,000 new shares with a nominal value of NOK 10 each (the "Offer Shares") at a subscription price of NOK 24 per Offer Share. 
 
 
The subscription period for the Rights Issue expired today 28 August 2017 at 16:30 hours (CET). Preliminary counting indicates that the Company has received subscriptions for approximately 2,604,740 Offer Shares at the end of the subscription period. The Rights Issue has consequently been oversubscribed by approximately 108 per cent. 
 
 
The final result of allocation of the Offer Shares is expected to be published on 29 August 2017. Notices of allocation of Offer Shares and the corresponding subscription amount to be paid by each individual subscriber will be distributed on 29 August 2017. Payment for the Offer Shares is due on 31 August 2017.
 
 
Carnegie AS acts as manager of the Rights Issue. 
 
 
For further queries, please contact:
Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This  information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
 
IMORTANT INFORMATION:
 
This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.
 
This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.
 
The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").
 
The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.
 
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.
 
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 

28.08.2017 EAM Solar ASA : Siste dag i tegningsperioden

Det vises til børsmeldinger datert 8. august 2017 og 11. august 2017 vedrørende start av tegningsperioden i fortrinnsrettsemisjonen i EAM Solar ASA. Siste dag i tegningsperioden er i dag, 28. august 2017.
 
 
Denne informasjonen er gjenstand for offentliggjøring i medhold av verdipapirhandelloven § 5-12.
 
 
For nærmere informasjon, kontakt:
 
 
Viktor E. Jakobsen, CEO, telefon +47 9161 1009, viktor@eam.no.

28.08.2017 EAM Solar ASA : Last day of the subscription period

Reference is made to the stock exchange announcements dated 8 August 2017 and 11 August 2017 regarding the commencement of the subscription period in the rights offering in EAM Solar ASA. The last day of the subscription period is today, 28 August 2017.
 
 
This information is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.
 
 
For further information, please contact:
 
 
Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.

25.08.2017 EAM Solar ASA : Disclosure of shareholdings

AS BRDR MICHAELSEN AVD I NORGE , a company controlled by Christian Hagemann, COO of EAM Solar ASA, has subscribed for 1,295 new shares in the rights issue of EAM Solar ASA. Allocation of new shares in the rights issue is expected to take place on or about 29 August 2017, and the number of shares allocated to AS BRDR MICHAELSEN AVD I NORGE  will only be known at that time. The rights issue is being carried out at a subscription price of NOK 24 per share.
 
 
For more information or questions, please contact:
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.

24.08.2017 EAM Solar ASA: Siste dag i handelsperioden for tegningsrettene

Det vises til børsmeldinger datert 8. august 2017 og 11. august 2017 vedrørende start av tegningsperioden i fortrinnsrettsemisjonen i EAM Solar ASA. Siste dag i handelsperioden for tegningsrettene er i dag, 24. august 2017. Siste dag i tegningsperioden i fortrinnsrettsemisjonen er 28. august 2017.
 
 
Denne informasjonen er gjenstand for offentliggjøring i medhold av verdipapirhandelloven § 5-12.
 
 
For nærmere informasjon, kontakt:
 
 
Viktor E. Jakobsen, CEO, telefon +47 9161 1009, viktor@eam.no.

24.08.2017 EAM Solar ASA : Last trading day for the subscription rights

Reference is made to the stock exchange announcements dated 8 August 2017 and 11 August 2017 regarding the commencement of the subscription period in the rights offering in EAM Solar ASA. The last day of trading in the subscription rights is today, 24 August 2017. The last day of the subscription period in the rights offering is 28 August 2017.

This information is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.

24.08.2017 EAM Solar ASA : Disclosure of shareholdings

24 August 2017 
 
 
EAM Solar Park Management AS, manager of EAM Solar ASA, has subscribed for 118,746 new shares in the rights issue of EAM Solar ASA. After this, EAM Solar Park Management AS will hold 650 956 shares in EAM Solar ASA. The rights issue is being carried out at a subscription price of NOK 24 per share.
 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.
 
 
For further information please contact Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

16.08.2017 EAM Solar ASA : Disclosure of shareholdings

Wiborg Kapitalforvaltning AB, a company controlled by Ragnhild Wiborg, chairperson of the board of directors of EAM Solar ASA, has subscribed for 1,000 new shares in the rights issue of EAM Solar ASA. Allocation of new shares in the rights issue is expected to take place on or about 29 August 2017, and the number of shares allocated to Wiborg Kapitalforvaltning AB will only be known at that time. The rights issue is being carried out at a subscription price of NOK 24 per share.
 
 
For more information or questions, please contact:
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.

15.08.2017 EAM Solar ASA : Q2 2017 Financial Report presentation on 15 August 2017

In connection with its Q2 2017 Financial Report will EAM Solar ASA hold an investor presentation at Carnegie's offices at 11:30 CET. The presentation will be held by Viktor E Jakobsen, CEO of EAM Solar ASA. Please find the presentation attached.
 
For further information, please contact:
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q2 2017 Financial Report presentation

15.08.2017 EAM Solar ASA : Q2 2017 Financial Report

Main events in the quarter:
 
 
On 26 June the Company entered into a Litigation Funding Agreement with the international specialist litigation fund Therium Litigation Funding IC and resolved to carry out a fully underwritten rights' issue with gross proceeds of NOK 30 million. The litigation funding agreement and equity issue secures EAM Solar ASA's capability to pursue legal actions in the foreseeable future.
 
 
In May the Criminal Court of Milan ordered a conservative seizure on all assets connected to Marco Giorgi and Igor Akhmerov, up to the total amount of Euro 33.062.632,62 in favour of EAM Solar ASA and EAM Solar Italy Holding S.r.l.
 
 
EAM achieved a record high power production in the first half of 2017, adjusted for solar irradiation, due to improved technical operations.
 
 
Based on the record power production the EBITDA for the first half 2017 came in at EUR 472k. Adjusted for legal costs normal operations yielded an EBITDA of EUR 1.2 million in the first half 2017, equivalent to an EBITDA margin of 58%.
 
 
 
For information, please contact:
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q2 2017 Financial Report

11.08.2017 EAM Solar ASA : Fortrinnsrettsemisjon i EAM Solar ASA - første dag i tegningsperioden

Det vises til børsmelding datert 8. august 2017 vedrørende godkjent prospekt for fortrinnsrettsemisjonen i EAM Solar ASA. Tegningsperioden i fortrinnsrettsemisjonen starter i dag, 11. august 2017.
 
 
For further information, please contact: 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

11.08.2017 EAM Solar ASA : Rights Offering in EAM Solar ASA - first day of the subscription period

Reference is made to the stock exchange announcement dated 8 August 2017 regarding the approved prospectus for the rights offering in EAM Solar ASA. The subscription period in the rights offering commence today, 11 August 2017.
 
 
For further information, please contact: 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

09.08.2017 EAM Solar ASA : Share capital increase

NOT  FOR  DISTRIBUTION  OR  RELEASE,  DIRECTLY  OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS  TERRITORIES AND POSSESSIONS, ANY STATE OF  THE UNITED STATES OF AMERICA AND THE  DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
 
 
SHARE CAPITAL INCREASE
 
Reference is made to the announcement by EAM Solar ASA (the "Company") on 8 August 2017 regarding the general meeting's approval of the issuance of 532,210 shares in the Company to EAM Solar Park Management AS, each with a nominal value of NOK 10 at a subscription price of NOK 32.762228 per share (the "Consideration Shares").
 
The share capital increase pertaining to the Consideration Shares has now been registered with the Norwegian Register of Business Enterprises.
 
The Company's share capital has consequently increased with NOK 5,322,100 to NOK 56,022,100. The Company's new registered share capital after the registration of the new shares is NOK 56,022,100 divided into 5,602,210 shares, each with a nominal value of NOK 10.
 
For further queries, please contact:
Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
This  information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
IMORTANT INFORMATION:
 
This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.
 
This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.
 
The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").
 
The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.
 
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.
 
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

09.08.2017 EAM Solar ASA : Ex fortrinnsretter i dag

Det vises til melding fra selskapet 17. juli 2017.
 
Aksjene i EAM Solar ASA noteres ex fortrinnsretter fra og med i dag, 9. august 2017.
 
For ytterligere informasjon, vennligst kontakt:
 
 
Viktor E Jakobsen, Executive Director, telefon +47 9161 1009, viktor@eam.no
 
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

09.08.2017 EAM Solar ASA : Ex subscription rights today

Reference is made to announcement from the company on 17 July 2017.

The shares in EAM Solar ASA will be traded ex subscription rights as from today, 9 August 2017.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.


 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

08.08.2017 EAM Solar ASA : Approved prospectus 8 August 2017

 

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

EAM SOLAR ASA - APPROVAL OF PROSPECTUS IN CONNECTION WITH RIGHTS ISSUE, LISTING OF SUBSCRIPTION RIGHTS AND LISTING OF SHARES

Reference is made to the announcement from EAM Solar ASA (the "Company") on 26 June 2017 regarding the fully underwritten rights issue directed towards shareholders of the Company (the "Rights Offering"), and the approval of the Company's general meeting on 8 August 2017 of the Rights Offering of 1,250,000 new shares in the Company (the "New Shares") and the issuance of 532,210 new shares in the Company to EAM Solar Park Management AS (the "Consideration Shares").

The Financial Supervisory Authority of Norway has on 8 August 2017 approved a prospectus for the offering and listing of the 1,250,000 New Shares at a subscription price of NOK 24 per new share with tradable subscription rights, and the listing of the 532,210 Consideration Shares.

The prospectus will be made publicly available at the offices of the Company (Dronningen 1, 0287 Oslo, Norway). The prospectus will also be made available on the Company's website www.eamsolar.no and on www.carnegie.no.

The Company's shareholders as registered in the VPS on 10 August 2017, who are not resident in a jurisdiction where such offering would be unlawful, or (in jurisdictions other than Norway) would require any prospectus filing, registration or similar action, will receive 0.22312 subscription rights for each share that they own in the Company on the above-mentioned date. The issuance of the Consideration Shares will be registered with the Norwegian Register of Business Enterprises on 9 August 2017 and the Consideration Shares will consequently be entitled to subscription rights in the Rights Issue. The ratio of subscription rights to existing shares has been calculated on this basis.

The number of subscription rights issued to each shareholder has been rounded down to the nearest whole subscription right. The holders of subscription rights will be entitled to subscribe for and be allocated one (1) New Share for every (1) subscription right held. Oversubscription and subscription without subscription rights is permitted. The subscription rights will be fully tradable and listed on Oslo Axess with ticker code "EAM T" in the period from 11 August 2017 to 24 August 2017.

The subscription period in the Rights Offering commences 11 August 2017 and expires 28 August 2017 at 16:30 CET. The New Shares to be issued in the Rights Offering are expected to be delivered to investors and be tradable on Oslo Axess on or about 4 September 2017.

Subscription rights that have not been sold prior to the expiry of the trading period for the subscription rights or that have not been used to subscribe for New Shares prior to the expiry of the subscription period will lapse and no longer have any value for the holders.

Shareholders who do not exercise their subscription rights will have their ownership percentage diluted by approximately 20%.

New Shares may not be subscribed by investors who are resident in a jurisdiction where such offering would be unlawful, or for jurisdictions other than Norway which would require any filing, registration or similar action. Regarding further restrictions in respect of who may be allocated or permitted to acquire or exercise subscription rights / subscribe for New Shares, reference is made to Section 15 "Selling and transfer restrictions" in the prospectus.

The main shareholders of the Company have fully underwritten the Rights Offering at a guarantee commission of 2% of the underwritten amount (the "Underwriting Agreement"). The underwriters' obligation was conditional upon the resolution of the Company's extraordinary general meeting on 8 August 2017 to carry out the Rights Offering and the prospectus being approved by the Financial Supervisory Authority of Norway. These conditions have been met.

The Company has appointed Carnegie AS as Manager for the Rights Offering. Advokatfirmaet Wiersholm AS is the Company's legal counsel.

For further queries, please contact:

Viktor E. Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no.

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power  plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This  information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IMORTANT INFORMATION:

This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.

This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.

The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").

The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

 

08.08.2017 EAM Solar ASA : Minutes of Extraordinary General Meeting 8 August 2017

EAM Solar ASA conducted an Extraordinary General Meeting in its offices at Dronningen 1, Oslo, today.
 
 
A total of 2,360,594 shares equivalent to 46.56% of the total shares in the company were represented through participation or proxy.
 
 
All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors.
 
 
The minutes of the Extraordinary General Meeting is attached to this notice.
 
 
For further information, please contact:
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Minutes of Extraordinary General Meeting 8 August 2017

17.07.2017 EAM Solar ASA : Key information relating to the rights issue to be carried out

17 July 2017 
 
Date on which the terms and conditions of the rights issue were announced: 17 July 2017
 
Last day including rights: 8 August 2017
 
Ex-date: 9 August 2017
 
Record date: 10 August 2017
 
Maximum number of new shares: 1,250,000
 
Subscription price: NOK 24.00
 
Will the rights be listed: Yes
 
Date of approval:  8 August 2017
 
 
For information, please contact: 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

17.07.2017 EAM Solar ASA : Notice of Extraordinary General Meeting

Notice is hereby served that the Extraordinary General Meeting (the "EGM") of EAM Solar ASA (the "Company") will be held on 8 August 2017 at 15:00 CET at the company's offices at Dronningen 1, Oslo.
 
 
For information, please contact:
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Notice of Extraordinary General Meeting 8 August 2017

28.06.2017 EAM Solar ASA : Disclosure of shareholdings

 

28 June 2017

Wiborg Kapitalforvaltning AB which is indirectly controlled by Ragnhild Wiborg (chair of the board of directors of EAM Solar ASA), has today acquired 3,000 shares at a price of NOK 43.40 per share in EAM Solar ASA ("EAM"). After the acquisition Ragnhild Wiborg and her associated companies hold 3,000 shares in EAM, representing 0.06 % of the shares and votes in EAM.

For more information or questions, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This disclosure is made pursuant to section 4-2 of the Securities Trading Act.

26.06.2017 EAM Solar ASA : Secures financing to expand legal processes

 

26 June 2017

EAM Solar ASA "EAM" or "the Company" has entered into two separate funding schemes in order to increase the litigation efforts against Enovos, Avelar and associated companies.

The funding schemes are a litigation funding agreement and an equity rights issue, fully underwritten by the Company's largest shareholders. The two initiatives will significantly strengthen the Company's financial "litigation war chest" and enable EAM to expand its ongoing legal processes in Italy, Luxembourg, Switzerland and other relevant jurisdictions in the foreseeable future.

The litigation funding agreement with Therium Litigation Funding IC and the equity rights' issue will in the outset contribute with more than EUR 5 million to cover future legal costs based on the current budgets for legal costs in the period 2017 through 2021. This funding comes in addition to the free cash flow from ordinary operations, significantly enhancing the legal strength of EAM going forward.

The dialogue with Therium was initiated in November 2016, and following a comprehensive due diligence conducted by Therium in close collaboration with EAM's management and EAM's legal counsels in Italy and Luxembourg, Therium decided to participate in and invest in the EAM litigation efforts in June.

The key financial metrics for the litigation funding agreement and the equity rights issue is that Therium in the case of a claim award to EAM Solar ASA will receive in the range 5 to 10% of the anticipated claim award, and the dilution of non-participating shareholders in the equity rights issue will be approximately 20% (excluding any revenue from sale of subscription rights).

"We have during the past year made significant progress in the ongoing legal processes. With the proposed initiatives to put in place further financial resources, we strengthen our capabilities to seek justice and expand our pan-European efforts against the companies and individuals that were involved and responsible for the P31 fraud against EAM. The fact that Therium, as a specialist Litigation Fund, after a comprehensive due diligence decides to invest in our litigation efforts, further confirms the strength of our case against the responsible for the P31 fraud," says Viktor E. Jakobsen, CEO of EAM in a comment.

Therium is one of the most established global litigation financing firms, founded in London and Jersey in 2009, with a presence in London, New York, Jersey, Spain, Italy, Scandinavia and Germany, and a market-leading track record of generating superior returns for its investors. In April 2015, Therium secured $300 million to invest in commercial litigation financing, the largest ever single investment in the litigation-funding sector, globally. Therium Nordic AS has been active since the spring of 2016 and has been well received by the legal communities and leading law firms in Oslo, Stockholm and Copenhagen. Therium Nordic AS has so far funded a number of meritorious claims for Nordic claimants.

"Therium has worked with EAM and their experienced team of international legal advisers for several months, with the intention to make a major investment in this extraordinary case. We are very pleased, and proud, through our investment decision to contribute significantly to EAM seeking justice in this complex, but strong case", says Henrik A. Jensen, chairman of the board in Therium Nordic AS.

The litigation funding transactions follows a ruling where the Criminal Court of Milan ordered the conservative seizure (see OSE release 8 June 2017) in favour of EAM Solar ASA and EAM Solar Italy Holding S.r.l., on all assets belonging to Marco Giorgi and Igor Akhmerov (previous directors of Aveleos SA and associated companies), up to the total amount of more than Euro 33 million. The Court's decision was made in order to secure a possible compensation of part of the cash outlay made by EAM companies in July 2014 in conjunction with the P31 fraud also involving Aveleos SA, Avelar Energy Ltd and Enovos Luxembourg SA. The Court furthermore decided not to grant a conservative seizure against Enovos Luxembourg SA and Avelar Energy Ltd since the Court deemed these companies to have sufficient financial resources to meet any future payments of damages claims to EAM.

The amount identified by the court in this conservative seizure ruling is not to be interpreted as a limitation to the final damages claims that may be awarded EAM Solar ASA in the criminal proceedings in Milan and elsewhere.

The proposed litigation funding comprises a maximum amount of approximately EUR 2.3 million divided into three equal tranches. The first tranche of EUR 776,865 has been committed, and Therium may provide two additional tranches in the same amount in the future at their own discretion if the Company needs further funds to cover legal costs. The funding is non-recourse and does not constitute a debt, however, Therium will upon a successful claim award receive four times the invested amount on any committed tranches.

In connection with the proposed Rights Issue, the Company has entered into an underwriting agreement with the Company's main shareholders of NOK 30 million who upon and subject to certain conditions underwrite the subscription of all the shares to be offered in the forthcoming Rights Issue.

The investment bank Carnegie and the law firm Wiersholm has acted as the Company's financial and legal advisors.

"We are grateful for the continued backing and support from our shareholders and we remain dedicated to rectify the damages inflicted on EAM and our shareholders following the fraudulent actions by Aveleos SA, Avelar Energy Ltd and Enovos Luxembourg SA and their representatives", says Viktor E. Jakobsen in a comment.

For further details about the transactions see separate OSE releases. The summons for an Extraordinary General Meeting will be issued at a later date.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eam.no



About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

26.06.2017 EAM Solar ASA :Rights issue of shares

26 June 2017

This announcement is not for release, publication or distribution (directly or indirectly) in or to the United States, Canada, Australia or Japan. It is not an offer of securities for sale in or into the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People's Republic of China, South Africa or Japan.

This announcement is not an offer of securities for sale in the United States. The new shares to which this announcement relates have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will not be a public offering of shares in the United States.

The board of directors of EAM Solar ASA (the "Company") has resolved to carry out a fully underwritten rights' issue with gross proceeds of NOK 30 million (the "Rights Issue"). The Rights Issue is subject to approval by the Company's general meeting. An extraordinary general meeting will be held in early August 2017 to consider the proposal for a Rights Issue.

The net proceeds from the Rights Issue will be used for financing the on-going legal processes and working capital purposes.  

The subscription price in the Rights Issue will be the lowest of NOK 24 per share and a discount of 25% to the theoretical ex-rights price for the shares (i.e. the calculated price for the Issuer's shares after issuing the new shares in the Rights Issue, assuming that the Rights Issue is subscribed for the full amount and based on a pre-transaction share price equal to the volume weighted share price for the Issuer's shares quoted on Oslo Børs in the period from and including 27 June 2017 to and including the last trading day prior to the date of the EGM notice. The number of new shares will be decided on the basis of the final subscription price.

The dilution of non-participating shareholders in the equity rights issue will be approximately 20% (excluding any revenue from sale of subscription rights).

In connection with the Rights Issue, the Company has entered into an underwriting agreement with the main shareholders (the "Underwriters"), who upon and subject to certain conditions underwrite the subscription of all the shares to be offered in the Rights Issue.

New shares not subscribed for by the end of the subscription period will thus be allocated to the Underwriters. The Underwriters will receive an underwriting fee corresponding to 2.00% of the underwritten amount.

The Company will prepare a prospectus relating to the Rights Issue, to be approved by the Financial Supervisory Authority of Norway. Existing shareholders will be granted subscription rights for the shares offered in the Rights Issue pro rata to their existing shareholding in the Company. The shareholders will receive subscription rights on the basis of their shareholding in the Company as of a record date to be determined when the date of the general meeting has been decided. Oversubscription and subscription without subscription rights will be permitted. The subscription rights will be freely tradable and listed on the Oslo Stock Exchange.

The Company has appointed Carnegie as Manager for the Rights Issue. Advokatfirmaet Wiersholm AS is the Company's legal counsel.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IMORTANT INFORMATION:
This announcement is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of EAM Solar ASA. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Copies of this announcement may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. A decision to invest in securities of EAM Solar ASA referred to in this announcement should be based exclusively on the prospectus published by EAM Solar ASA for such purpose.

This announcement and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The new shares referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). There will be no public offering of the new shares in the United States of America.

The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling
within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons").

The new shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

This publication may contain specific forward-looking statements, e.g. statements including terms like "believe," "assume," "expect," "forecast," "project," "may," "could," "might," "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EAM Solar ASA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward- looking statements. EAM Solar ASA assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

26.06.2017 EAM Solar ASA :Acquisition of Royalty Rights

26 June 2017

EAM Solar Park Management AS ("SPM"), a subsidiary of Energeia Asset Management AS, is providing management services to EAM Solar ASA ("EAM") under an administrative, technical and commercial management agreement originally entered into on 17 March 2011 and amended and restated on 3 March 2013 (the "Agreement").

SPM is entitled to 12.5 % of the annual pre-tax profit (the "Royalty") in EAM. EAM and SPM is in agreement that the management agreement in its original form no longer works in the best interest of EAM and SPM, and have therefore decided to amend the Agreement.

The amendment is conducted to secure that SPM's interests are fully aligned with EAM in the pursuit of the claims against Aveleos, its directors, Enovos and Avelar.

EAM and SPM have entered into an addendum to the Agreement pursuant to which EAM shall buy back SPM's right to the Royalty with effect from the Effective Time, following which the Royalty will be cancelled. In consideration of to the buy-back of the Royalty, SPM shall receive a claim equal to NOK 17,436,385. This claim will be converted into 532,210 shares in EAM (the "Consideration Shares"). The new shares are non-dilutive for the existing shareholders.

The addendum is subject to the approval of the general meeting of EAM.

The addendum shall become effective when the general meeting of EAM has given the board of directors of EAM the authority to carry out the increase of the share capital required to issue the Consideration Shares (the "Effective Time").

SPM will continue as the manager of EAM and except for the amendments described above the management agreement will continue in force.

SPM has agreed to a lock-up on the Consideration Shares. Under the lock-up, SPM shall not for the period until the earlier of (i) five years from the Effective Time and (ii) such time when all legal disputes involving EAM or its subsidiaries in relation to the acquisition of the P31 portfolio have been finally settled or adjudicated, sell or in any other way transfer the Consideration Shares to any other person.

Carnegie and Wiersholm has acted as advisors to EAM in conjunction with this transaction.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

26.06.2017 EAM Solar ASA : Litigation Funding Agreement with Therium

26 June 2017

EAM Solar ASA ("EAM" or "the Company") has entered into a Litigation Funding Agreement ("LFA") with the international specialist litigation fund Therium Litigation Funding IC ("Therium"), which is part of the Therium Capital Management Group.

Following a comprehensive due diligence of the legal and financial claims of EAM, Therium has decided to invest in the Company's litigation claim against Aveleos, its directors, Enovos and Avelar.

The LFA secures part of the funding of legal costs of the various legal processes in Luxembourg, Italy and Switzerland that EAM is conducting in order to pursue justice and to recover the financial losses inflicted on EAM in conjunction with the P31 fraud. In addition, EAM has established an underwriting consortium that will underwrite an equity issue of NOK 30 million (see separate stock exchange notice).

Therium has committed to invest a maximum amount of up to EUR 2.3 million divided into three tranches of EUR 775 million for the three years from 2017 to 2019. Therium may choose not to invest more than the first tranche.

The LFA entitles Therium to receive the invested amount plus a contingency fee of 3X the committed funds under any incepted tranche of funding as a first priority payment from any litigation claim awarded to the Company, the fee is expected to be in the range of 5% to 10% of the anticipated claim award. The litigation funding by Therium is non-recourse and does not constitute a loan for EAM, and will be booked as revenues and construes a contingent liability in the event that EAM receives a litigation claim award.

Therium is one of the most established global litigation financing firms, founded in London and Jersey in 2009, with a presence in London, New York, Jersey, Spain, Italy, Scandinavia and Germany, and a market-leading track record of generating superior returns for its investors. In April 2015, Therium secured USD 300 million to invest in commercial litigation financing, the largest ever single investment in the litigation-funding sector, globally. Therium Nordic AS has been active since the spring of 2016 and has been well received by the legal communities and leading law firms in Oslo, Stockholm and Copenhagen. Therium Nordic AS has so far funded a number of meritorious claims for Nordic claimants.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

08.06.2017 EAM Solar ASA :Conservative seizure of assets granted to EAM

8 June 2017

In a ruling dated 31 May 2017, notified on 7 June 2017, the Court of Milan has ordered the conservative seizure (pursuant to article 316 of the Italian Criminal Procedure Code), in favour of EAM Solar ASA and EAM Solar Italy Holding S.r.l., on all assets connected to Marco Giorgi and Igor Akhmerov, up to the total amount of Euro 33.062.632,62.

The Court's decision was made in order to secure a possible compensation of part of the cash outlay made by of EAM companies in July 2014 in conjunction with the P31 fraud.

The amount identified by the court in this conservative seizure ruling is not to be interpreted as a limitation to the final damages claims that may be awarded EAM Solar ASA in the criminal proceedings in Milan.

The Court's decision was founded on the argument that with respect to the accused Giorgi and Akhmerov, there is good reason to believe that the guarantees for the payment of the civil obligations deriving from the crime of contractual fraud is lacking or will be dispersed.

Although requested by EAM, the Court did not grant conservative seizure against the parties with civil liabilities Aveleos SA, Avelar Energy Ltd and Enovos Luxembourg SA. The Court's argument for not granting the conservative seizure of assets was founded on the fact that;

"there is no doubt that such companies are entities of relevant economic capability. [.] Thus, it is not proven, with respect to these companies, that the guarantees for payment compensation claim to EAM companies' would be lacking" (Ruling from the Court of Milan dated 31 May 2017, page 6).

The ruling can be appealed, pursuant to articles 318 and 324 of the Italian Criminal Procedure Code, within ten days from the date of the seizure's execution.

EAM will initiate the necessary measures to secure assets in accordance with the Court's ruling.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

23.05.2017 EAM Solar ASA : Minutes of Annual General Meeting 2017

EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, today.
 
 
A total of 2,659,176 shares equivalent to 52.449% of the total shares in the Company were represented through participation or proxy.
 
 
All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.
 
 
The minutes of the Annual General Meeting is attached to this notice.
 
 
For information, please contact:
Viktor E Jakobsen, CEO,
phone +47 9161 1009,
viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Minutes of the AGM 23 May 2017

23.05.2017 EAM Solar ASA : Q1 2017 Financial Report

HIGHLIGHTS Q1 2017:
 

Power production in the 1st quarter was 2.6 GWh.


EBITDA in the 1st quarter came in at EUR 42k, adjusted for legal costs EBITDA from the SPVs in normal operations was EUR 423k in the quarter.


6 power plants produced electricity in the 1st quarter. 


The Criminal Court proceedings in Milan continued on 30 March 2017 where the Court once more confirmed the positions of the three companies, Enovos, Avelar and Aveleos, as financially liable parties for the economic damages arising from the criminal offence of contractual fraud charged against the defendants Marco Giorgi and Igor Akhmerov.


Writ delivered in the arbitration proceedings


Aveleos standstill Agreement ruling in Luxembourg

 
 
For information, please contact:
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q1 2017 Financial Report

02.05.2017 EAM Solar ASA : Notice of annual general meeting 2017

Notice is hereby served that the Annual General Meeting (the "AGM") of EAM Solar ASA (the "Company") will be held at 14:00 CET on 23 May 2017 at the Company's offices at Dronningen 1, Oslo.

 

For information, please contact:

 

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Notice of annual general meeting 2017

pdf Annual Report 2016

29.04.2017 EAM Solar ASA : Annual Report 2016

For information, please contact:

 

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no



About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
 
pdf Annual Report 2016

03.03.2017 EAM Solar ASA : Legal status update

3 March 2017

Following the fraudulent sale of 31 Solar PV power plants to EAM Solar ASA in July 2014 by Enovos Luxembourg SA and Avelar Energy Ltd through their jointly owned special purpose vehicle Aveleos SA of Luxembourg, the so-called "P31 Acquisition", EAM group has been forced to pursue EAM's legal and economic rights in several legal venues due to the unwillingness of the sellers to respect their contractual obligations in accordance with the Share Purchase Agreement entered into the 31st of December 2013.

The financial reporting through annual and quarterly reports issued since July 2014 contains further details relevant for the interpretation of this stock exchange notice and can be found on the company web site (www.eamsolar.no).

1) Breach of standstill agreement proceedings against Aveleos SA in the Court of Luxembourg

In October 2014, EAM entered into a so-called standstill agreement with Aveleos SA that also encompassed Enovos, Avelar and its employees. The purpose of the standstill agreement was to give the sellers time to resolve the payment suspension measures of GSE and to document the necessary facts confirming the validity of the FIT contracts and the technical feasibility of the power plants within a limited time frame of 6 months. In exchange for this the sellers pledged to finance the running costs of the criminally affected power plants with a minimum of EUR 5 million in liquidity until the above matters was resolved.

In exchange for this pledge and the promises given by the sellers, EAM lifted the injunction achieved on the bank accounts of Aveleos SA in Luxembourg in September 2014 in order to avoid the immediate bankruptcy of Aveleos SA in October 2014 as threatened by the Enovos and Avelar directors.

Aveleos and its Directors breached the standstill agreement already in November 2014, as confirmed in the ruling by the Civil Court of Milan (Enterprise Matters Specialized Section) in September 2015 and by the Criminal Court of Milan in the ruling the 13th of September 2016.

In the Autumn 2015 Aveleos summoned EAM again in Luxembourg court in order to misuse the standstill agreement to achieve exclusion from the criminal proceedings in Milan in order for Enovos and Avelar to escape legal proceedings. On the 20th of September 2016 Aveleos asked the court of Luxembourg for a postponement of these proceeding, which was granted until January 2017.

The first hearing in the Standstill Agreement procedures in Luxembourg took place on 17 January 2017. Both parties filed their note of pleadings and presented to the judge. In the proceedings Aveleos SA has delivered a claim and EAM Solar ASA a counter-claim.

In a ruling communicated yesterday the court decided that the Luxembourg civil proceedings regarding the Standstill Agreement shall be put to a halt until the arbitration award before the Court of Milan is rendered i.e. all claims of Aveleos have been suspended until further.


2) Defamation case - allegations of false complaint to be tried in the Luxembourg District Court

The companies EAM Solar ASA and EAM Solar Italy Holding srl, as well as their CEO and Managing Director, Mr Viktor E. Jakobsen, received in January 2017 a subpoena to meet in court in Luxembourg on 13 March 2017. The plaintiffs are Enovos Luxembourg SA, Enovos International SA and their directors.  The plaintiffs claim that the criminal complaint filed by EAM Solar ASA in February 2016 is false and not merited. This is an attempt by the directors to evade the ongoing investigation by the criminal court of Luxembourg that followed after the criminal complaint was filed.

In a communication received yesterday we have been informed that the case will not be heard until the Prosecutor's Office have decided on the criminal complaint filed in February 2016 that is still in their hands.

Therefore, the case will not be pleaded on March 13, 2017 and will be rescheduled.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

15.02.2017 EAM Solar ASA : Q4 2016 Financial Report

HIGHLIGHTS Q4 2016:
 
The power production in the quarter was 2.16 GWh. At the end of December 2016, accumulated power production for the 12M was 13.4 GWh.
 
EBITDA in the quarter came in at a loss of EUR 100k, adjusted for legal costs and write-downs associated to SPVs with terminated FIT contracts, EBITDA from the SPVs in normal operations was EUR 131k in the quarter.
 
6 power plants produced electricity in the 4th quarter. 
 
The Criminal Court proceedings in Milan continued on 6 December 2016 where the Court again confirmed the positions of the three companies, Enovos, Avelar and Aveleos, as financially liable parties for the economic damages arising from the criminal offence of contractual fraud charged against the defendants Marco Giorgi and Igor Akhmerov.
 
 
For information, please contact:
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q4 2016 Financial Report

23.11.2016 EAM Solar ASA : Q3 2016 Financial Report presentation on 23 November 2016

 
 
 
In connection with its Q3 2016 Financial Report, EAM Solar ASA will hold an investor presentation at Carnegie's offices in Oslo at 11:30 CET. The presentation will be held by Viktor E Jakobsen, CEO of EAM Solar ASA.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q3 2016 Financial Report presentation

23.11.2016 EAM Solar ASA : Q3 2016 Financial Report

 
 
Highlights Q3 2016:
 

The power production in the quarter was 4.32 GWh. At the end of September 2016, accumulated power production for 9M was 20.5 GWh.
 
 
EBITDA in the quarter came in at a loss of EUR 7.7 million, adjusted for legal costs and write-downs associated to SPVs with terminated FIT contracts, EBITDA from the SPVs in normal operations was EUR 1.05 million in the quarter.
 
 
6 power plants produced electricity in the 3rd quarter, while 17 power plants continued to be permanently shut down as a direct consequence of the court ruling issued by the Administrative Court of Lazio (TAR) confirming the legal validity of the termination decisions made by Gestore dei Servizi Energetici (GSE) in 2015 and the factual evidences leading to the termination decisions.
 
 
The Criminal Court proceedings in Milan continued on 13 September 2016 where the Court confirmed the positions of the three companies, Enovos, Avelar and Aveleos, as financially liable parties for the economic damages arising from the criminal offence of contractual fraud charged against the defendants Marco Giorgi and Igor Akhmerov.
 
 
The 5 SPVs with ownership of the 17 power plants affected by the criminal proceedings that were admitted to commence financial restructuring by the Bankruptcy Court in Milan filed for voluntary liquidation and bankruptcy on 22 September 2016. The restructuring plan was not executable and voluntarily filing for bankruptcy was the only possible outcome.
 
 
 
For information, please contact:
 
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q3 2016 Financial Report

10.10.2016 EAM Solar ASA : Minutes of Extraordinary General Meeting 10 October 2016

EAM Solar ASA conducted an Extraordinary General Meeting in its offices at Dronningen 1, Oslo, today.
 
 
A total of 1,877,500 shares equivalent to 37.032% of the total shares in the company were represented through participation or proxy.
 
 
All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors.
 
 
The minutes of the Extraordinary General Meeting is attached to this notice.
 
 
For further information, please contact:
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Minutes of the EGM 10 October 2016

23.09.2016 EAM Solar ASA : P31 Acquisition legal status update

23rd of September 2016

Following the fraudulent sale of 31 Solar PV power plants to EAM Solar ASA in July 2014 by Enovos Luxembourg SA and Avelar Energy Ltd through their jointly owned special purpose vehicle Aveleos SA of Luxembourg, the so-called "P31 Acquisition", EAM group has been forced to pursue EAM's legal and economic rights in several legal venues due to the unwillingness of the sellers to respect their contractual obligations in accordance with the Share Purchase Agreement entered into the 31st of December 2013.

At current, EAM has 6 separate legal proceedings in progress or recently finalized, and in addition, between 2 and 4 further civil and criminal legal processes underway to be formally initiated. The following is an update on the status of these legal proceedings.

The financial reporting through annual and quarterly reports issued since July 2014 contains further details relevant for the interpretation of this stock exchange notice and can be found on the company web site (www.eamsolar.no).

1) Proceedings in the Criminal Court of Milan

Following the Criminal Court of Milan's decision to start tribunal proceedings in March 2016 in the case of criminal fraud against the State of Italy and EAM Solar ASA, the tribunal conducting the proceedings commenced on the 7th of June 2016.

In the initial three hearings of the Tribunal, the formal decisions of March 2016 and appeals filed by the indicted and civilly liable companies to be excluded from the criminal proceedings have been reviewed by the Court. EAM has summoned Enovos Luxembourg SA and Avelar Energy Ltd as financially liable parties for the damages suffered by EAM. In the court ruling issued the 13th of September 2016 the Court judged that Aveleos SA is merely an alter ego of the two companies and as such Enovos and Avelar are financially liable parties. The Courts ruling is public information and can be seen EAMs web site (www.eamsolar.no/investors/p31-acquisition-legal-information/).

The next session in the criminal court of Milan is on the 2nd of November 2016, and in total 8 trial sessions has been scheduled between November 2016 and March 2017.   

2) Administrative legal proceedings against GSE in the Administrative Court of Rome

Following the suspension of payments of the FIT contracts initiated by GSE in August 2014, and the permanent termination of the FIT contracts in Q4'2016, EAM appealed GSE's termination decision to the appropriate legal venue, the Administrative Court of Lazio in Rome. The appeal was based on the necessity to achieve a decision in the matter sanctioned by the appropriate Court.

EAM also summoned Aveleos and the financing banks to participate in the appeal of the termination decision. However, both Aveleos and the financing banks abstained from participating in court or to provide any factual information that would result in an annulment of GSE's termination decision, thereby waiving their rights of remedy on accordance with the rights and obligations in the Share Purchase Agreements.

On the 9th of June the Administrative Court of Lazio issued their ruling that gave unreserved support and legal verification of the termination decision by GSE, thus making the termination a lawful fact.

The court concluded that the power plants does not have the right to the FIT contracts due to the fact that the have not been built in accordance with technical rules and regulations, and that the FIT contracts was obtained based on falsified documentation.

An important consequence of the ruling is that most of the PV modules on the power plants no longer have valid CE certification, consequently the power plants have lost the right to operate and be connected to the grid and any insurance is no longer valid. Based on this the power plants permanently closed operation on mid June 2015, and are now considered electronic scrap with a recycling obligation in accordance with the EU WEEE Directive.

3) Criminal complaint with civil action in Luxembourg against Enovos Group and managing directors in Enovos

In February 2016, based on the evidence at hand, EAM Solar ASA and associated companies and individuals filed two criminal complaints with civil damages actions to the Court of Luxembourg. One criminal complaint was filed against Aveleos SA, and one criminal complaint action against Enovos Luxembourg SA, Enovos International SA, Jean Lucius, Michel Schaus, Peter Hamacher and Martin Technau (all employees in the Enovos Group), and the Aveleos board directors, Igor Akhmerov and Marco Giorgi (employees of Avelar Energy Ltd).

EAM has been under obligatory investigation confidentiality in this matter until Tuesday the 20th of September 2016 and has therefore not reported this fact earlier. The Prosecutors office in Luxembourg currently handles the criminal complaint.

The civil action contains damages claims in excess of EUR 215 million stemming from the contractual fraud against EAM solar ASA in conjunction with the P31 Acquisition.

4) Breach of standstill agreement proceedings against Aveleos SA in the Court of Luxembourg

In October 2014, EAM entered into a so-called standstill agreement with Aveleos SA that also encompassed Enovos, Avelar and its employees. The purpose of the standstill agreement was to give the sellers time to resolve the payment suspension measures of GSE and to document the necessary facts confirming the validity of the FIT contracts and the technical feasibility of the power plants within a limited time frame of 6 months. In exchange for this the sellers pledged to finance the running costs of the criminally affected power plants with a minimum of EUR 5 million in liquidity until the above matters was resolved.

In exchange for this pledge and the promises given by the sellers, EAM lifted the injunction achieved on the bank accounts of Aveleos SA in Luxembourg in September 2014 in order to avoid the immediate bankruptcy Aveleos SA in October 2014 as threatened by the Enovos and Avelar directors.

Aveleos and its Directors breached the standstill agreement already in November 2014, as confirmed in the ruling by the Civil Court of Milan (Enterprise Matters Specialized Section) in September 2015 and by the Criminal Court of Milan in the ruling the 13th of September 2016.

In the Autumn 2015 Aveleos summoned EAM again in Luxembourg court in order to misuse the standstill agreement to achieve exclusion from the criminal proceedings in Milan in order for Enovos and Avelar to escape legal proceedings. On the 20th of September 2016 Aveleos asked the court of Luxembourg for a postponement of these proceeding, which was granted until January 2017.

5) Financial restructuring and voluntary liquidation plan for the criminally indicted SPVs in the Bankruptcy Court of Milan

Following the FIT termination decision by GSE, the criminal affected SPVs filed for a financial restructuring procedure ("Concordato Preventivo") with creditor protection. This was granted by the bankruptcy Court of Milan until the 8th of July, and then further extended to the 6th of September 2016.

EAM has been forced to act as a custodian for the SPVs affected by the criminal proceedings since July 2014. EAM has performed this task in order to protect the values of the SPVs and minimize any financial damage arising from the criminal proceedings and its legal and operational consequences.

Following legal and technical clarifications achieved during July and August 2016, the Sole Managing Director and the shareholder of the SPVs, in an understanding with the Bankruptcy Court of Milan, determined that a financial restructuring would be unachievable under the laws governing such procedures, mainly due to the fact that the SPVs are criminally indicted, but also due to technical administrative reasons. Therefore the companies filed for a voluntary liquidation and bankruptcy procedure with the Bankruptcy Court of Milan on the 22nd of September 2016.

As the custodian, EAM will ask the Bankruptcy court of Milan to review the bankruptcy in light of the Italian civil code article 1227 concerning gross negligence of creditors.

6) Initiation of Arbitration proceedings in the Chamber of Arbitration in Milan

On the 12th of September 2016, EAM Solar ASA and EAM Solar Italy holding Srl filed a summons to the Chamber of Arbitration of Milan against Aveleos SA. The objective of the filing is to have the entire Share Purchase Agreement and associated agreements annulled based on fundamental breach of contract. The annulment is merited by the various court rulings obtained in Rome and Milan that substantiate the validity of EAM's legal and financial claims.

In addition to the reversal of all transactions, EAM is also seeking damages for the economic losses imposed on EAM through the fraudulent sale of the P31 companies.

Aveleos SA has 30 days to respond to the arbitration summons.

7) Future legal proceedings to be initiated in Italy and Switzerland

Based on the legal rulings achieved, and clarification and validation of facts evidencing the fraud, EAM is in the process of initiating further criminal and civil legal proceedings.

 

Future legal actions will be formally initiated going forward in Italy and Switzerland against companies and individuals with a documented responsibility for participating in the fraud against EAM. The timing of legal actions is based on the finalization of various forensic investigations and third party validation of the forensic investigation results.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

19.09.2016 EAM Solar ASA : Notice of Extraordinary General Meeting

Notice is hereby served that the Extraordinary General Meeting of EAM Solar ASA will be held on Monday the 10th of October 2016 at 15:00 CET at the company's offices at Dronningen 1, Oslo.

 
 

For further information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
 
pdf Notice of Extraordinary General Meeting 10 October 2016

14.09.2016 EAM Solar ASA : Criminal Court of Milan decides that Enovos, Avelar and Aveleos are financially liable for damages

14th of September 2016

On Tuesday the 13th of September, the Criminal Court of Milan reconvened the proceedings of the criminal case 44638/13 against Igor Akhmerov, Marco Giorgi and others concerning fraud against the State of Italy in conjunction with application for Solar PV feed-in-tariff incentives and criminal contractual fraud against EAM Solar ASA in conjunction with the sale of the P31 SPVs.

In the hearing on the 13th of September 2016, the three judges (tribunal) of the 10th Criminal Division of the Court of Milan rejected the requests presented by Aveleos S.A., Avelar Energy Ltd. and Enovos Luxembourg S.A. aimed at obtaining their exclusions from the criminal proceedings in their quality of financially liable parties towards EAM Solar ASA and EAM Solar Italy Holding S.r.l.

Consequently, the Court has definitively confirmed the positions of the three companies, summoned by EAM Solar ASA and EAM Solar Italy Holding S.r.l., as financially liable parties for the economic damages arising from the criminal offence of contractual fraud contested to the defendants Marco Giorgi and Igor Akhmerov.

The proceedings will continue at the hearing on the 2nd of November 2016 scheduled for the analysis of the preliminary issues.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

31.08.2016 EAM Solar ASA : FINANCIAL CALENDAR 2016/2017

YEAR 2016
 
Quarterly Report - Q3 2016 - 23rd of November 2016
 
 
 
YEAR 2017
 
Quarterly Report - Q4 2017 - 15th of February 2017
Quarterly Report - Q1 2017 - 23rd of May 2017
Quarterly Report - Q2 2017 - 15th of August 2017
Quarterly Report - Q3 2017 - 14th of November 2017
 
 
Annual General Meeting - 2017 - 23rd of May 2017
 
 
 
For information, please contact: 

Viktor E Jakobsen, CEO, phone +47 9161 1009,
 
 
 
 
About EAM Solar: EAM Solar is a utility company that
acquires and operates solar power plants. The Company
currently owns solar PV power plants in Italy. The
plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

19.08.2016 EAM Solar ASA : Q2 2016 Financial Report

Highlights in the second quarter 2016:
 
 
· All 25 power plants produced electricity in the 2nd quarter until mid June when the 17 power plants affected by the termination of FIT where permanently shut down. The power plants are shut down as a consequence of the ruling in the Administrative Court (TAR) of Lazio confirming the legal basis for GSE's termination decision. The power plants were shut down due to invalid certification of the modules. 
 
 
· The SPVs affected by the criminal proceedings were admitted to commence financial restructuring by the Bankruptcy Court in Milan. The deadline for reaching a financial restructuring plan has been prolonged from the 8th of July to the 6th of September 2016. 
 
 
· EAM Solar Italy 3 srl, one of the unaffected companies, was sold in June for a total consideration of EUR 3,55M. 
 
 
· The Criminal Court proceedings in Milan commenced the 7th of June 2016.  On 13th of July 2016 the tribunal reconfirmed EAM Solar ASA as victim of criminal contractual fraud.
 
 
· The power production in the quarter was 9.652 GWh. At the end of June 2016, accumulated power production for H1 was 16.126 GWh.
 
 
· EBITDA in the quarter was EUR 169k, adjusted for legal costs and SPVs with terminated FIT contracts, the EBITDA was EUR 1.1 million.
 
 
· Cost reduction measures implemented have started to take effect in the 2nd quarter 2016.
 
 
 
 
For information, please contact:
 
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q2 2016 Financial Report

15.07.2016 EAM Solar ASA : Hearing in the Criminal Court of Milan confirms EAMs legal position as victim of fraud

15th of July 2016

On Wednesday the 13th of July, the Criminal Court of Milan reconvened the proceedings of the criminal case 44638/13 against Igor Akhmerov, Marco Giorgi and others concerning fraud against the State of Italy in conjunction with application for Solar PV feed-in-tariff incentives and criminal contractual fraud against EAM Solar ASA in conjunction with the sale of the P31 SPVs.

Yesterday, the Criminal Court of Milan confirmed the ruling made in the Preliminary Hearing that EAM Solar ASA and EAM Solar Italy Holding Srl is to be regarded as victims of criminal contractual fraud.

As previously announced, the preliminary hearing in the Criminal Court of Milan concluded on the 16th of March 2016 that the Prosecutors Office of Milan's request for trial was merited on all charges.

EAM has filed a petition to the Court of Milan to include Aveleos SA, Enovos Luxembourg SA and Avelar Energy Ltd as financially liable for the damages suffered by EAM stemming from the fraud. The Criminal Court of Milan is expected to decide in this matter when the next proceedings commence on the 13th of September 2016.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

21.06.2016 EAM Solar ASA : Sale of EAM Solar Italy 3 Srl

21st of June 2016

EAM Solar ASA has sold the company EAM Solar Italy 3 Srl. The company owns two PV power plants (Momo & Caltignaga) with a combined capacity of approximately 2MW, located in Piemonte.

The sale was conducted against a cash consideration received by EAM on 21st June 2016 of EUR 3,55 million based on the financial takeover date being the 1st of June 2016. The share purchase agreement contains normal terms and conditions for similar transactions.

EAM invested approximately EUR 3,8 million in September 2013. In the period from September 2013 to May 2016, including the sale proceeds, the EAM group has received approximately EUR 4,9 million in cash from this investment.

The sale will be booked in the accounts for the 2nd quarter and will result in an accounting loss due to difference between the book value of the company and the sales price. This should be seen in relation to the gain on bargain purchase received at the acquisition in the 3rd quarter 2013 of approximately EUR 2,4 million.

EAM is involved in several legal proceedings following the P31 fraud, and will revert to the market with a company update on activities shortly. The sale secures funding for extraordinary legal costs and general corporate purposes.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

26.05.2016 EAM Solar ASA : Minutes of Annual General Meeting 2016

 
 
EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, today.
 
 
A total of 1,908,570 shares equivalent to 37.644% of the total shares in the company were represented through participation or proxy.
 
 
All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.
 
 
The minutes of the Annual General Meeting is attached to this notice.
 
 
For further information, please contact:
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.


This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



pdf Minutes of the AGM 26 May 2016

23.05.2016 EAM Solar ASA : Q1 2016 Financial Report

Highlights in the first quarter 2016:
 
 
 
· All 25 power plants produced electricity in the 1st quarter. The power production was 6,474 GWh, 12% below the seasonal average for the period. At the end of April 2016 accumulated power production is 7% below budget.
 
 
· The 17 power plant with terminated contracts produced 5% below normal due to lead-time on repair work.
 
 
· EBITDA in the quarter was a loss of EUR 581k, adjusted for legal costs and SPVs with terminated FIT contracts, the EBITDA was positive with EUR 332k.
 
 
· The Criminal Court of Milan finalized the preliminary hearing on the 15th of March. The Courts conclusion from the preliminary hearing was that EAM is a victim of criminal contractual fraud, and that Enovos, Avelar and Aveleos are regarded as financially liable for the damages suffered by EAM. The criminal trial will commence the 7th of June 2016 in Milan.
 
 
· EAM appealed GSEs termination decision to the Administrative Court of Lazio. A court hearing was conducted the 28th of April, and EAM expects a decision by the Court during the 2nd quarter 2016 on the validity of GSEs termination decision.
 
 
· The 5 SPVs affected by the criminal proceedings was admitted to commence financial restructuring by the Bankruptcy Court in Milan. The deadline for reaching a financial restructuring plan for court approval is the 8th of July 2016.
 
 
 
For information, please contact:
 
 
 
Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no
 
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Q1 2016 Financial Report

13.05.2016 EAM: Updated Financial calendar 2016

13th of May 2016

The Board of EAM Solar ASA has decided to move the reporting date of the 1st quarter of 2016 to 23rd of May 2016. The rest of the calendar remains unchanged.

FINANCIAL YEAR 2016

Quarterly Report - Q1 - 23.05.2016
Quarterly Report - Q2 - 18.08.2016
Quarterly Report - Q3 - 17.11.2016

Annual General Meeting - 26.05.2016

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

04.05.2016 EAM Solar ASA : Notice of annual general meeting 2016

Notice is hereby served that the Annual General Meeting (the "AGM") of EAM

Solar ASA (the "Company") will be held at 14:00 CET on 26 May 2016  at the

Company's offices at Dronningen 1, Oslo.

For further information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
 
pdf Notice of annual general meeting 2016

30.04.2016 CORRECTION: EAM Solar ASA : Annual Report 2015

This is a correction of the announcement from 22:26 30.04.2016 CEST. Reason for the correction:

 

Headline shall be Annual Report 2015 not Annual Report 2014

 

For further information, please contact:

 

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Annual Report 2015

30.04.2016 EAM Solar ASA : Annual Report 2014

For further information, please contact:

 

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
 
pdf Annual Report 2015

16.03.2016 EAM Solar ASA : Company update

16th of March 2016

Criminal proceedings in Milano

The preliminary stage of the criminal proceedings in Milano has come to an end. The Judge in the Criminal Court of Milan has ruled that all indicted will be committed to trial on all charges.

For the Company this means that the Judge has ruled that EAM is victim of a criminal contractual fraud and that Enovos and Avelar are financially liable for the damages incurred.

Please refer to the fourth quarter report 2015 and the stock exchange notice released on 23rd of February 2016 for further information.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

23.02.2016 EAM Solar ASA : Q4 2015 financial report and company update

23rd of February 2016

Highlights in the fourth quarter 2015

 

  • All 25 PV power plants produced electricity in the 4th quarter. Annual power production 2015 was 37.7 GWh, 99.8% of normal. Adjusted for the lightning strike in July, the production was 1.5% above normal for the year. 4th quarter production was 4.7% above normal production.

  • GSE made in the 4th quarter a unilateral decision to terminate the FIT-contracts of the 17 power plants affected by the criminal proceedings in Milan. The correctness of the termination decision will be judged in the Administrative Court of Rome in April 2016.
  • As a consequence of the GSE termination decision, EAM has conducted a write-down of assets and receivables and recognition of contingent liabilities of a total EUR 69.7 million
  • The SPV Energetic Source Solar Production Srl received a formal notice of breach of the loan agreement from UniCredit.
  • The Board of Directors has annulled the decision it made the 14th of December 2015 to distribute shares in EAM Solar Italy Holding Srl.
  • Legal actions to secure damage claims of EUR 212 million against Enovos, Avelar and Aveleos have been initiated.

 


Annulment of dividend


On the 25th of November 2015, EAM held an extraordinary shareholders meeting in order to grant the Board of Directors the authority to conduct a split of the company by issuing shares in EAM Solar Italy Holding Srl as dividends to the Company's shareholders.

The purpose of the decision was to give the Board of Directors the sufficient authority to protect the financial integrity of EAM Solar ASA.

On the 14th of December 2015 the Board of Directors decided to split the Company by distribution of dividends. No date for distribution of dividends was set (ex. dividend date).

Subsequent events have made the split of the Company irrelevant in order to maintain the financial integrity. Consequently, the Board of Directors has decided to annul the issue of shares in EAM Solar Italy Holding Srl as dividends.

 

The Board of Directors has appointed a new CEO in EAM Solar ASA


The Board of EAM Solar ASA has today appointed Viktor Erik Jakobsen as CEO of EAM Solar ASA, simultaneously Mr Jakobsen has resigned as executive member of the board.

Mr Jakobsen, has been on the board of EAM Solar ASA since inception, in addition he is also CEO of the manager Energeia Asset Management AS. Mr Jakobsen has 20+ years experience in academia, investment banking and the PV industry. Previous positions have been as Director, SVP & CFO ScanWafer, Co-Head of Equities & Head of Equity Research DnB, Partner SEB Enskilda, Chairman Bellona Environmental Foundation. Mr Jakobsen holds an MSc Econ from NHH, Bergen.

Mr Jakobsen replaces Audun W. Iversen who has been CEO since 4th of July 2012. Mr Iversen has expressed wish to step down to give priority to his commitments as chair and board member of several companies.

The board of EAM Solar ASA thanks Mr Iversen for his great work and wishes him the best for the future.

Mr Iversen continues to be a part of the team in the manager Energeia Asset Management AS.

For information, please contact:

Ragnhild Wiborg, Chair, phone +47 958 45 645, raghnild@eam.no

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q4 2015 Financial Report

16.02.2016 EAM: Updated Financial calendar 2016

16st of February 2016

The Board of EAM Solar ASA has decided to move the reporting date of the 4th quarter of 2015 to 23rd of February 2016. The rest of the calendar remains unchanged.

FINANCIAL YEAR 2015

Quarterly Report - Q4 - 23.02.2016

FINANCIAL YEAR 2016

Quarterly Report - Q1 - 18.05.2016
Quarterly Report - Q2 - 18.08.2016
Quarterly Report - Q3 - 17.11.2016

Annual General Meeting - 26.05.2016

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

21.01.2016 EAM: Updated Financial calendar 2016

21st of January 2016

The Board of EAM Solar ASA has decided to move forward the reporting date of the 4th quarter of 2015 to 18th of February 2016. The rest of the calendar remains unchanged.

FINANCIAL YEAR 2015

Quarterly Report - Q4 - 18.02.2016

FINANCIAL YEAR 2016

Quarterly Report - Q1 - 18.05.2016
Quarterly Report - Q2 - 18.08.2016
Quarterly Report - Q3 - 17.11.2016

Annual General Meeting - 26.05.2016

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

30.12.2015 EAM: Financial calendar 2016

30th of December 2015

FINANCIAL YEAR 2015

Quarterly Report - Q4 - 25.02.2016

FINANCIAL YEAR 2016

Quarterly Report - Q1 - 18.05.2016
Quarterly Report - Q2 - 18.08.2016
Quarterly Report - Q3 - 17.11.2016

Annual General Meeting - 26.05.2016

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

14.12.2015 EAM Solar ASA : Split of EAM Solar ASA and distribution to shareholders

14th of December 2015
 
 
 
The Board of EAM Solar ASA has today resolved to carry out the split, as described in the notice to the extraordinary general meeting sent 4 November 2015, by way of a distribution of shares in EAM Solar Italy Holding srl.
 
 
Further information regarding the practical execution, valuation, ex-dividend date and transfer date will be communicated in a separate press release.
 
 
 
For information, please contact:
 
 
 
Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

30.11.2015 EAM Solar ASA : Q3 2015 financial report

30th of November 2015

Highlights in the third quarter 2015

·  The reported Q3 power production was 11.7 GWh, 4.0% below the seasonal average for the period, accumulated for the year the production was 31.0 GWh, 0.5% below the average for the period.

·  Reported EBITDA in the quarter was EUR 1.1m, adjusted for acquisition and transaction costs, EBITDA was EUR 2.9m.

·  The Company has received terminations from GSE of the FIT contract of all 17 power plants affected by the suspension measures. The termination letters were received in October and November.

·   The Company has received to its SPV ESSP a formal notice of breach of the loan agreement following the termination of the FIT contracts by GSE.

·     The general meeting held 25 November 2015 authorized the board of directors to carry out a split of the Company as described in the notice to the general meeting.

·    In July the company received payments for RID revenue for the period June to September last year.

·     The Company received 31 July 2015 the final tranche of the loan from Credit Agricole to ENS1 of EUR 676,000.

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q3 2015 Financial Report

30.11.2015 EAM Solar ASA : Termination of market making agreement

30th of November 2015

EAM Solar ASA has today terminated the market making agreement with Carnegie with effect from 30 January 2016.

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.11.2015 EAM Solar ASA : Notice of termination of the feed in tariff contract received for 2 power plants in the P31 portfolio

25th of November 2015

The company received today notice of termination of the feed in tariff contract for two power plants from Gestore Servizi Energetici ("GSE"). The termination concerns two single purpose vehicles and two power plants purchased under the P31 acquisition. This termination is in addition to the fifteen power plants that were announced terminated on the 29th of October and 23rd of November respectively. The termination decision may be appealed in the Administrative court.

  
For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.11.2015 EAM Solar ASA : Minutes from the extraordinary general meeting 25th of November 2015

EAM Solar ASA conducted its Extraordinary General Meeting at Carnegie offices in Oslo today.
 
 
A total of 2,806,147 shares equivalent to 55.3% of the total shares in the company were represented through participation or proxy.
 
 
All decisions where passed and in accordance with the proposal made by the Board of Directors.
 
 
The minutes of the Extraordinary General Meeting is attached to this notice.
 
 
 
For further information, please contact:
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no
 
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Minutes of the EGM 25 November 2015

23.11.2015 EAM Solar ASA : Revision to notice of extraordinary general meeting

23rd of November 2015

Reference is made to the press release communicated on 4 November 2015, calling for an extraordinary general meeting on 25 November 2015 to consider a proposal for a split of the Company by way of a distribution of the shares in EAM Solar Italy Holding Srl as a dividend to the shareholders. 

Based on communication with shareholders and the fact that the Company has received in total 15 terminations of feed in tariffs for three of its subsidiaries, the board proposes to make certain amendments to item 3 and 4 in the agenda of the extraordinary general meeting.

The board proposes that item 3 and 4 of the agenda are not executed in the meeting but the extraordinary general meeting gives the board authority to conduct the split and the distribution, as described in item 3 and 4, if and when, they find it in the best interest of the Company. Consequently, no dividend will be approved at the extraordinary general meeting on 25 November 2015. The proposed authority will lapse at the next ordinary general meeting taking place in May 2016.

Unless otherwise indicated by the relevant shareholder, all proxies with voting instructions already received for or against the original proposal will be considered as instructions to vote for or against the amended proposal.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

23.11.2015 EAM Solar ASA : Notice of termination of the feed in tariff contract received for 12 power plants in the P31 portfolio

EAM: Notice of termination of the feed in tariff contract received for 12 power plants in the P31 portfolio

23rd of November 2015
The company received late Friday night notice of termination of the feed in tariff contract for twelve power plants from Gestore Servizi Energetici ("GSE"). The termination concerns three single purpose vehicles and twelve power plants purchased under the P31 acquisition, all under Conto Energia II FIT contracts.

This termination is in addition to the tree power plants that were announced terminated on the 29th of October. The termination decision may be appealed in the Administrative court.

The company will revert with more information shortly.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

04.11.2015 EAM Solar ASA : Notice of Extraordinary General Meeting

Notice is hereby served that the Extraordinary General Meeting (the "EGM") of EAM Solar ASA (the "Company") will be held on Wednesday the 25th of November 2015 at 17:00 CET at the Carnegie's offices at Grundingen 2, Oslo.

 

The EGM will be opened by the chairperson of the Board of Directors, Ragnhild Wiborg, cfr. section 5-12 of the Norwegian Public Limited Liability Companies.

 

Agenda:

 

1. Election of a chairperson and a person to co-sign the minutes

 

2. Approval of the notice and the agenda

 

3. Decision on the split of EAM Solar ASA

 

4. Decision on distribution of the shares in EAM Solar Italy Holding Srl

 

***

 

For further information, please contact:

 

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

 

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

 

 

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Notice of Extraordinary General Meeting 2015

29.10.2015 EAM Solar ASA : Notice of termination of the feed in tariff contract received for three power plants in the P31 portfolio

EAM: Notice of termination of the feed in tariff contract received for three power plants in the P31 portfolio

29th of October 2015

The 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 ("GSE"). The termination involves one company and three power plants purchased under the P31 acquisition.

We have today a hearing in the administrative court and will revert with more information when appropriate.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

09.10.2015 EAM Solar ASA : Presentation for shareholders' meeting

9 October 2015
 
 
 
Presentation for todays shareholders' meeting.
 
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Presentation for shareholders meeting

08.10.2015 EAM Solar ASA : Shareholders meeting - call in details

8th of October 2015

With reference to the press release of the 25th of September where the Company announced a shareholders meeting on Friday 9 October 2015 at 10:00-11:00, at the offices of Carnegie at Grundingen 2, 0250 Oslo, the Company will also make it possible to attend via conference call. Please use the following details to connect:

Date: Friday 09 October

Time: from 09:55

Dial in number: 800 88 860   (from outside Norway please use: +47 23184500)

Pin code: 7011459#

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.09.2015 EAM Solar ASA : Shareholders meeting

25th of September 2015

The Company will convene a shareholders meeting on Friday 9 October 2015 at 10:00 in order to present current status, and for the Board and administration to be available for questions and clarifications from the shareholders on the current status of the company. The venue will be at Carnegie offices at Grundingen 2, 0250 Oslo.

For attendance please register with Gloria@eam.no

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.09.2015 EAM Solar ASA :Updated financial calendar

25th of September 2015

EAM Solar ASA has decided to move the release of the third quarter report from 30 October 2015 to 30 November 2015.  Please see the updated calendar below:

Quarterly Report - Q3 - 30.11.2015

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.09.2015 EAM Solar ASA : Correction Status of operations and litigations


Correction: The shareholders meeting is on Friday 9th of October.


Operations, reporting and shareholders meeting

All assets (25 PV power plants) are operating and delivering electricity to the grid on a daily basis. 17 of the power plants are still not receiving FIT payment from GSE for the electricity delivered to the GSE. At the end of September 2015, GSE has an accumulated unpaid electricity bill of approximately EUR 10m. A more detailed update on operational status will be given in the Shareholders meeting the 9th of October and in the third quarter 2015 report.

The third quarter 2015 report will be released later than previously announced. The announced date is 30 October 2015. The new reporting date will be 30 November 2015. The reason for postponing the report release is to await the outcome of the criminal and administrative court proceedings that will take place in October.

The Company will convene a shareholders meeting on Friday 9 October 2015 in order to present current status, and for the Board and administration to be available for questions and clarifications from the shareholders on the current status of the company. The time and venue on the 9th of October will be announced in a separate stock exchange notice.

Status of criminal proceedings against Aveleos directors and related parties

Reference is given to previous stock exchange notices and quarterly reports from EAM Solar ASA.

Since the execution of the partial closing of the P31 acquisition the 15th of July 2014, some of the Directors of Aveleos SA have been indicted by the Prosecutors Office in Milan for several crimes against the State of Italy and other parties. The Prosecutors Office's investigation was concluded in the first quarter 2015, and at current the Criminal Court of Milan is conducting the preliminary hearing in order to decide on approving the Prosecutors Office request for a committal to trial.

Aveleos SA is a special purpose vehicle, established in 2010, owned by Enovos of Luxembourg (59%) and Avelar Energy (41%), with the specific purpose to build for sale PV power plants. Aveleos has no employees but is managed by a Board of Directors consisting of 3 Enovos directors and 2 Avelar directors. The Enovos directors since the inception of Aveleos SA has amongst other been Jean Lucius, CEO of Enovos, and Michel Schaus, member of the Enovos Executive Board.

The preliminary hearing in the criminal proceedings started the 3rd of June 2015. On the 15th and 17th of September the preliminary hearings were continued, and the preliminary conclusions from the hearing are as follows:

The judge of the preliminary hearing of the criminal proceedings against, inter alia, the Aveleos' directors Marco Giorgi and Igor Akhmerov, has given EAM Solar ASA and its daughter company EAM Solar Italy Holding S.r.l. the status of a victim of fraud with reference to the crime of contractual fraud (as described in point F of the Prosecutors Office of Milan's request for committal for trial).

Mr Giorgi and Mr Akhmerov are accused of several crimes, including organised crime, aggravated fraud aimed at obtaining public contributions, filing of fraud declarations and contractual fraud against EAM.

In particular, under indictment point F, Marco Giorgi and Igor Akhmerov are claimed to be responsible of collaborating with each other, as representatives of Aveleos SA,, upon receiving the first instalment of the total payment of Euro 36.864.618 subject to the transfer of the shares of the companies that comprise the P31 portfolio. Together they are accused of having procured an illegitimate profit to Aveleos SA, equal to the value of the sales agreement, as they deceived EAM by not disclosing to the latter the lack of the necessary requirements in order to be granted with the incentive tariffs by the GSE and therefore convinced EAM Solar Italy Holding and its holding company, EAM Solar ASA, to make bank transfers with three different payments, in such a way causing a serious economic damage to EAM Solar on 15 July 2014.

Furthermore, the judge of the preliminary hearing has allowed EAM to summon Aveleos SA, Enovos Luxembourg SA and Avelar Energy Ltd as financially liable parties for the economic damage suffered by EAM as a result of the fraud. The judge rejected the objections of the companies summoned as financially liable, which asked to be excluded from the criminal proceedings
The next preliminary hearing will be held on 20 October 2015. The judge will most likely schedule another preliminary hearing before deciding on the request for committal for trial of the defendants.

By obtaining the status as a victim of a fraud, EAM received the investigation documentation from the Prosecutors Office. The documentation has enabled EAM to prepare for the forthcoming legal measures, beyond the criminal case in Milan, to be taken in order to seek compensation for the economic damages caused by the fraud against EAM.

The next legal steps under criminal and civil law in Italy, Luxembourg and Switzerland are now being prepared with EAM's advisors.

Status of the FIT suspension and administrative proceedings against GSE

Gestore Servizi Energetici ("GSE") has unilaterally suspended payments of their electricity bills from 17 power plants since July 2014. During this period EAM has challenged the payment suspension conducted by GSE in several administrative court proceedings. On the 27th of January 2015 the State Council ruled, at EAM's request in favour of EAM, that GSE had to make a decision on the validity of the FIT contracts and decide on a final conclusion since the payment suspension measure according to Italian law cannot be continued without a definite timeline.

GSE has a triple role as both the administrative body responsible for authorizing PV power plants, responsible for regulating operations and controlling compliance of PV power plants, as well as being the commercial customer of the purchase of electricity from the PV power plants.

In April the administrative court in Lazio (TAR) decided that the suspension measure and the merits of the suspension would be subject to a court decision the 9th of July for 7 of the 17 power plants.

Following this decision by the TAR, GSE issued a new suspension measure on the 30th of April with a 90 day finite timeline for a decision by GSE on the validity of the FIT contracts for all 17 power plants.

In the first week of May GSE conducted physical inspections together with EAM personnel of the 17 suspended power plants, and in addition GSE has received information requested related to the construction and permitting of the PV power plants in 2010 and 2011. Most of this material was previously received by GSE in 2010 and 2011.

On the 9th of July the administrative court (TAR) decided that since GSE had conducted inspections and was in the process of concluding their internal evaluation of the validity of the FIT with a definite deadline being the 29th of July 2015, TAR ruled that GSE should  make their conclusion within the stated deadline.

No decision has been taken by GSE within the deadline of the 29th of July and GSE has not resumed payments of the FIT. Consequently, GSE is now in breach with the order issued by the Administrative Court of Lazio (TAR).

Based on the lack of decision and breach of law by GSE, EAM has summoned GSE and asked the administrative court to take urgent measures against GSE. The court will likely decide on this issue on the 15th of October 2015.

In light of the breach of administrative law and breach of EAM's legal rights conducted by GSE, and the administrative court rulings in favour of EAM, EAM took the initiative to a meeting with the administration of GSE, represented its President, Mr Sperandini, in order to see if a negotiated solution could be found.

The meeting took place the 14th of September 2015 in Rome. Present in the meeting were GSE, representatives from the ministry, EAM representatives and also the Norwegian Ambassador to Italy, Mr Grydeland.

Although an amicable meeting, the meeting was inconclusive since GSE considers itself incapable of performing its legal administrative obligations and make a final decision on the validity of the FIT contracts for the suspended power plants. Consequently, EAM is now forced to initiate the necessary legal action in Italy, in the European Union and under the protection of the International Energy Charter Treaty in international arbitration courts, in order to enforce and protect the legal rights of EAM Solar ASA.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.09.2015 EAM Solar ASA : Status of operations and litigations

Operations, reporting and shareholders meeting

All assets (25 PV power plants) are operating and delivering electricity to the grid on a daily basis. 17 of the power plants are still not receiving FIT payment from GSE for the electricity delivered to the GSE. At the end of September 2015, GSE has an accumulated unpaid electricity bill of approximately EUR 10m. A more detailed update on operational status will be given in the Shareholders meeting the 8th of October and in the third quarter 2015 report.

The third quarter 2015 report will be released later than previously announced. The announced date is 30 October 2015. The new reporting date will be 30 November 2015. The reason for postponing the report release is to await the outcome of the criminal and administrative court proceedings that will take place in October.

The Company will convene a shareholders meeting on Friday 9 October 2015 in order to present current status, and for the Board and administration to be available for questions and clarifications from the shareholders on the current status of the company. The time and venue on the 9th of October will be announced in a separate stock exchange notice.

Status of criminal proceedings against Aveleos directors and related parties

Reference is given to previous stock exchange notices and quarterly reports from EAM Solar ASA.

Since the execution of the partial closing of the P31 acquisition the 15th of July 2014, some of the Directors of Aveleos SA have been indicted by the Prosecutors Office in Milan for several crimes against the State of Italy and other parties. The Prosecutors Office's investigation was concluded in the first quarter 2015, and at current the Criminal Court of Milan is conducting the preliminary hearing in order to decide on approving the Prosecutors Office request for a committal to trial.

Aveleos SA is a special purpose vehicle, established in 2010, owned by Enovos of Luxembourg (59%) and Avelar Energy (41%), with the specific purpose to build for sale PV power plants. Aveleos has no employees but is managed by a Board of Directors consisting of 3 Enovos directors and 2 Avelar directors. The Enovos directors since the inception of Aveleos SA has amongst other been Jean Lucius, CEO of Enovos, and Michel Schaus, member of the Enovos Executive Board.

The preliminary hearing in the criminal proceedings started the 3rd of June 2015. On the 15th and 17th of September the preliminary hearings were continued, and the preliminary conclusions from the hearing are as follows:

The judge of the preliminary hearing of the criminal proceedings against, inter alia, the Aveleos' directors Marco Giorgi and Igor Akhmerov, has given EAM Solar ASA and its daughter company EAM Solar Italy Holding S.r.l. the status of a victim of fraud with reference to the crime of contractual fraud (as described in point F of the Prosecutors Office of Milan's request for committal for trial).

Mr Giorgi and Mr Akhmerov are accused of several crimes, including organised crime, aggravated fraud aimed at obtaining public contributions, filing of fraud declarations and contractual fraud against EAM.

In particular, under indictment point F, Marco Giorgi and Igor Akhmerov are claimed to be responsible of collaborating with each other, as representatives of Aveleos SA,, upon receiving the first instalment of the total payment of Euro 36.864.618 subject to the transfer of the shares of the companies that comprise the P31 portfolio. Together they are accused of having procured an illegitimate profit to Aveleos SA, equal to the value of the sales agreement, as they deceived EAM by not disclosing to the latter the lack of the necessary requirements in order to be granted with the incentive tariffs by the GSE and therefore convinced EAM Solar Italy Holding and its holding company, EAM Solar ASA, to make bank transfers with three different payments, in such a way causing a serious economic damage to EAM Solar on 15 July 2014.

Furthermore, the judge of the preliminary hearing has allowed EAM to summon Aveleos SA, Enovos Luxembourg SA and Avelar Energy Ltd as financially liable parties for the economic damage suffered by EAM as a result of the fraud. The judge rejected the objections of the companies summoned as financially liable, which asked to be excluded from the criminal proceedings
The next preliminary hearing will be held on 20 October 2015. The judge will most likely schedule another preliminary hearing before deciding on the request for committal for trial of the defendants.

By obtaining the status as a victim of a fraud, EAM received the investigation documentation from the Prosecutors Office. The documentation has enabled EAM to prepare for the forthcoming legal measures, beyond the criminal case in Milan, to be taken in order to seek compensation for the economic damages caused by the fraud against EAM.

The next legal steps under criminal and civil law in Italy, Luxembourg and Switzerland are now being prepared with EAM's advisors.

Status of the FIT suspension and administrative proceedings against GSE

Gestore Servizi Energetici ("GSE") has unilaterally suspended payments of their electricity bills from 17 power plants since July 2014. During this period EAM has challenged the payment suspension conducted by GSE in several administrative court proceedings. On the 27th of January 2015 the State Council ruled, at EAM's request in favour of EAM, that GSE had to make a decision on the validity of the FIT contracts and decide on a final conclusion since the payment suspension measure according to Italian law cannot be continued without a definite timeline.

GSE has a triple role as both the administrative body responsible for authorizing PV power plants, responsible for regulating operations and controlling compliance of PV power plants, as well as being the commercial customer of the purchase of electricity from the PV power plants.

In April the administrative court in Lazio (TAR) decided that the suspension measure and the merits of the suspension would be subject to a court decision the 9th of July for 7 of the 17 power plants.

Following this decision by the TAR, GSE issued a new suspension measure on the 30th of April with a 90 day finite timeline for a decision by GSE on the validity of the FIT contracts for all 17 power plants.

In the first week of May GSE conducted physical inspections together with EAM personnel of the 17 suspended power plants, and in addition GSE has received information requested related to the construction and permitting of the PV power plants in 2010 and 2011. Most of this material was previously received by GSE in 2010 and 2011.

On the 9th of July the administrative court (TAR) decided that since GSE had conducted inspections and was in the process of concluding their internal evaluation of the validity of the FIT with a definite deadline being the 29th of July 2015, TAR ruled that GSE should  make their conclusion within the stated deadline.

No decision has been taken by GSE within the deadline of the 29th of July and GSE has not resumed payments of the FIT. Consequently, GSE is now in breach with the order issued by the Administrative Court of Lazio (TAR).

Based on the lack of decision and breach of law by GSE, EAM has summoned GSE and asked the administrative court to take urgent measures against GSE. The court will likely decide on this issue on the 15th of October 2015.

In light of the breach of administrative law and breach of EAM's legal rights conducted by GSE, and the administrative court rulings in favour of EAM, EAM took the initiative to a meeting with the administration of GSE, represented its President, Mr Sperandini, in order to see if a negotiated solution could be found.

The meeting took place the 14th of September 2015 in Rome. Present in the meeting were GSE, representatives from the ministry, EAM representatives and also the Norwegian Ambassador to Italy, Mr Grydeland.

Although an amicable meeting, the meeting was inconclusive since GSE considers itself incapable of performing its legal administrative obligations and make a final decision on the validity of the FIT contracts for the suspended power plants. Consequently, EAM is now forced to initiate the necessary legal action in Italy, in the European Union and under the protection of the International Energy Charter Treaty in international arbitration courts, in order to enforce and protect the legal rights of EAM Solar ASA.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

30.07.2015 EAM Solar ASA : Q2 2015 financial report

Highlights in the second quarter 2015  
 

The reported Q2 power production was 12.3 GWh, 4.1% above the seasonal average for the period, accumulated for the year the production was 19.3 GWh, 1.5% above the seasonal average for the period.  
 

Reported EBITDA in the quarter was EUR 3.1m, adjusted for acquisition and transaction costs, EBITDA was EUR 3.2m.  
 

In July the company received payments for RID revenue for the period June to September last year.  
 

The first hearing in the criminal proceedings was conducted on 3 June 2015. EAM Solar ASA and EAM Solar Italy Holding have maintained their status as victim of criminal contractual fraud.  
 

The new hearing in the administrative court was conducted on 9 July 2015. The court accepted that by  30 July 2015 GSE must  present their decision on the suspension of FIT and the court also ruled that the merits will be evaluated in the hearing in November.  
 

In the beginning of May, the GSE conducted inspections on the 17 power plants affected by the suspension of tariffs. At the release of this report the inspection had not yet been concluded.


For further information contact:  
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no  
 
 
Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q2 2015 Financial Report

28.05.2015 EAM Solar ASA : Minutes from the annual general meeting 28th May 2015

EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, today.
 
 
A total of 1,740,445 shares equivalent to 34.328% of the total shares in the company were represented through participation or proxy.
 
 
All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.
 
 
The minutes of the Annual General Meeting is attached to this notice.
 
 
For further information, please contact:
 
 
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no
 
 
Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no
 
 
About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Minutes of the AGM 28 May 2015

11.05.2015 EAM Solar ASA : Q1 2015 financial report

Highlights in the first quarter 2015:

The reported Q1 power production was 7,0 GWh, 4.8% below the seasonal average for the period.

Reported EBITDA in the quarter was EUR 1,0m, adjusted for acquisition and transaction costs, EBITDA was EUR 1,3m.

24 April 2015 the company received the documents related to the criminal investigation conducted by the court of Milan. In the received documentation the prosecutor of the court of Milan has identified EAM Solar ASA as well as the manager, EAM Solar Park Management AS, as civil victims of criminal contractual fraud.

Hearing in the criminal proceedings has been set for 3 June 2015.

Claim filed to get the suspended tariffs reinstated. The company appealed the unfavourable decision of the administrative court in December to a higher court, and received a ruling in its favour by the Council of State in January 2015. The Council of State has accepted the appeal as it deems that the claim filed with the administrative court appears to be grounded.

The new hearing dates for the administrative court has been set for 9 July 2015 and 11 November 2015 where GSE must provide evidence of criminal activity to support their actions and the administrative court must resolve on the merits of the case, taking into consideration the ruling in the Council of State.

In the beginning of May, the GSE conducted inspections on the 17 power plants affected by the suspension of tariffs. At the release of this report the inspection had not yet been concluded.

For further information contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q1 2015 Financial Report

08.05.2015 EAM Solar ASA : Notice of annual general meeting 2015

Notice is hereby served that the Annual General Meeting (the "AGM") of EAM Solar ASA (the "Company") will be held on the 28th of May 2015 at 15:00 CET at the Company's offices at Dronningen 1, Oslo.

For further information please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Annual Report 2014

pdf Notice of annual general meeting 2015

30.04.2015 EAM Solar ASA : Annual Report 2014

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Annual Report 2014

27.04.2015 EAM Solar ASA : Updated financial calendar 2015

 

27th of April 2015

EAM Solar ASA has decided to change the date for release of its first quarter report for 2015.

The updated financial reporting calendar for EAM Solar ASA will be as follows:

Q1 2015: 11th of May

Q2 2015: 30th of July

Q3 2015: 30th of October

The annual general meeting will be held 28th of May.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

11.03.2015 EAM Solar ASA: Presentation material for todays shareholders information meeting

EAM Solar ASA: Presentation material for todays shareholders information meeting
 
 
11th of March 2015
 
 
In conjunction with todays shareholders information meeting in EAM Solar ASA, the attached presentation material is being used.
 

For further information, please contact:

Viktor E. Jakobsen, Executive Director , phone +47 916 11 009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar: EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.


This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM presentation 11 March 2015

06.03.2015 EAM Solar ASA: Invitation to information meeting for shareholders 11th of March 2015

EAM Solar ASA: Invitation to information meeting for shareholders 11th of March 2015

6th of March 2015

EAM Solar ASA invites to a shareholder information meeting on Wednesday the 11th of March, 2015 at 15:30 CET.

The information meeting will comprise an update based on the Q4 2014 report (released 25th of February) as well as a general corporate status.

The information meeting will be held at the offices of Carnegie Oslo, Grundingen 2, Aker Brygge.

Although the information meeting is open for all, we ask attendees to inform the EAM Solar ASA about planned attendance for practical purposes. Please send notification of your attendance on email to gloria@eam.no by Wednesday the 10th of March at 16:00 CET.

The information material used in the meeting will be published on the Company web page at the same time.

For further information, please contact:

Viktor E. Jakobsen, Executive Director, phone +47 916 11 009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar:

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

25.02.2015 EAM Solar ASA: Q4 2014 Financial Report

EAM: Q4 2014 Financial Report
 
25th of February 2015
 
The highlights from the report are as follows:

In the fourth quarter EAM signed a six-month standstill agreement with Aveleos SA, in order to secure liquidity, and jointly clarify facts about the solar power plants affected by the investigation by the prosecutor of Milan.

The reported Q4 power production was 6,3 GWh, 3% above the seasonal average, bringing the full year 2014 production to 22,8 GWh equivalent to 2% below normal for the period.

Reported EBITDA in the quarter was EUR -0,2m, adjusted for acquisition and transaction costs, EBITDA was EUR 0,7m. There is a higher cost of operation in the quarter compared with last year related to maintenance and increased scope of operations, due to the P31 purchase.

The GSE cancelled the RID contracts for the SPVs affected by the on-going investigations with effect from 31 December 2014. EAM subsequently entered into new power purchase agreements with other counterparts for the sale of electricity with effect from 1 January 2015.

EAM has had several court hearings during the fourth quarter 2014 and the first quarter 2015. See report for further details.
 

For further information contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no
 
 
 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q4 2014 Financial Report

30.12.2014 EAM Solar ASA: Financial calendar 2015

Financial calendar for EAm Solar ASA
FINANCIAL YEAR 2014
Quarterly Report - Q4 - 25.02.2015
FINANCIAL YEAR 2015 Quarterly Report - Q1 - 30.04.2015 Quarterly Report - Q2 - 30.07.2015 Quarterly Report - Q3 - 30.10.2015
Annual General Meeting - 28.05.2015



This information is published pursuant to the requirements set out in section 4.5 of the continuing obligations of stock exchange listed companies.

22.12.2014 EAM Solar ASA : Minutes from EGM 19 December 2014

EAM: Minutes from the Extraordinary General Meeting the 19th of December 2014

22nd of December 2014

EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, on the 19th of December 2014.

A total of 1,715,625 shares equivalent to 33,839% of the total shares in the company were represented through participation or proxy.

All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.

The minutes of the Annual General Meeting is attached to this notice.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a power production company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EGM 19 Dec 2014 minutes

28.11.2014 EAM Solar ASA: Notice of Extraordinary General Meeting

EAM Solar ASA: Notice of Extraordinary General Meeting

28 November 2014 
Notice is hereby served that the Extraordinary General Meeting (EGM) of EAM Solar ASA will be held on Friday the 19th of December 2014 at 13:00 CET at the Company's offices at Dronningen 1, Oslo.

The summons is enclosed this stock exchange notice.

The agenda of the EGM is:

1.      Election of a chairperson and a person to co-sign the minutes

2.      Approval of the notice and the agenda

3.      Election of chairman and board member

4.      Election of member to the Nomination Committee

5.      Remuneration to the Board of Directors

 
 

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf EAM EGM 19 Dec 2014 notice

21.10.2014 EAM Solar ASA: Q3 2014 financial report

EAM: Q2 2014 financial report
 
21st of October 2014
 
The highlights from the report are as follows:

The main activity in the third quarter was the acquisition of the P31 portfolio. A partial closing including 21 of the 31 power plants was executed on the 15th of July.

The reported Q3 power production was 10,2 GWh, 14% below seasonal average, bringing the first nine month's production to 15 GWh equivalent to 9% below normal for the period.

Reported EBITDA in the quarter was EUR 2,7m, adjusted for P31 acquisition costs, EBITDA was EUR 2,9m. A higher cost of operations in the quarter is related to maintenance and increased scope of operations, due to the P31 purchase.
 

For further information contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eam.no
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q3 2014 financial report

20.10.2014 EAM Solar ASA : Standstill agreement implemented with Aveleos

EAM: Standstill agreement implemented with Aveleos

20th of October 2014

EAM Solar ASA and Aveleos S.A. have agreed and implemented a 6 months Standstill Agreement in conjunction with the P31 portfolio acquisition.

Aveleos  S.A., the seller of the P31 portfolio, is headquartered  in Luxembourg and was established  in 2010 as a joint venture between Enovos Luxembourg SA (59% ownership) and Avelar Energy Ltd (41% ownership).  The objective of Aveleos has since its inception been to develop, operate and sell to the market photovoltaic plants in Italy and France.

EAM and Aveleos have agreed to jointly clarify all relevant facts related to the power plants and the viability of the FIT contracts that has been affected by the preliminary investigations conducted by the public Prosecutor in Milan. Furthermore, EAM receives cash securing liquidity for operating the affected power plants and SPV's in a normal manner. Based on the standstill Agreement EAM has lifted the injunction as described the stock exchange notice of the 4th of September.

The Standstill Agreement does not construe that either party waive any rights as regulated by the share purchase agreement, and all actions regulated by the share purchase agreement is suspended until the end of the standstill agreement period.

Last week EAM filed a petition to the administrative court in Rome in order to have the suspension of the payment of the feed in tariffs lifted. The filing of the petition is conducted following the preliminary results of the forensic fact finding work currently conducted by EAM. The administrative court in Rome is expected to conduct its court hearing on this matter the 30th of October. The administrative court may conduct a verdict in this matter two weeks after the hearing.

EAM will issue the third quarter 2014 report on Tuesday the 21st of October, and will consequently give more information on status of operations.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eam.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eam.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

04.09.2014 EAM Solar ASA: Preventive legal actions executed for P31 acquisition

EAM: Preventive legal actions executed for P31 acquisition

4th of September 2014

EAM Solar ASA's wholly owned subsidiary EAM Italy has through the Court of Luxembourg obtained an injunction of EUR 33m on assets held by Aveleos S.A. and others. The Court of Luxembourg's decision is one of the preventive legal steps currently conducted by EAM. These processes is initiated to protect EAM's interests and to secure any relevant indemnification claims EAM may have if the actions conducted by the public Prosecutor in Milan should have any harmful impact on the P31 acquisition and the company.

Injunction in Luxembourg against Aveleos S.A., a subsidiary of Enovos Luxembourg S.A.

EAM Italy filed the 18th of August 2014 an injunction petition before the Court of Luxembourg in order to seize Aveleos' and others assets held with BGL BNP Paribas, a Luxembourg credit institution (BGL BNPP). Aveleos is the seller of the P31 portfolio.

On the 19th of August 2014, the President of the Court decided to grant the authorization for attachment in relation to EAM Italy's injunction petition with respect to a total amount of EUR 33.062.633.

On the 25th of August 2014, EAM Italy served the authorization for attachment to the attached third party, i.e., BGL BNPP, which will block the assets, if any, held on behalf of Aveleos and others.

On the 1st of September 2014, EAM filed a court action against Aveleos and others in order to have the attachment of the relevant assets.

The injunction is currently a preliminary measure, and may be challenged. The final seizure and transfer of assets are subject to the outcome of normal legal proceedings and a final court decision.

Update on P31 acquisition portfolio companies

Reference is made the stock exchange notice sent the 28th of July and to note 14 in the second quarter report published the 4th of August.

Operations: The 21 power plants where EAM assumed operational control on the 15th of July are all running according to normal operating procedures.

Although the suspension of the FIT and RID revenues for 17 of the 21' power plants has resulted in lower running cash flow from operations at the moment, and the bank accounts of the affected SPV's still are restricted, the cash flow from the operational EAM power plants are sufficient to cover the running costs of operation for all power plants.

GSE: As reported earlier GSE has enacted a temporary suspension of the FIT and RID of 17 of the 21 the power plants under EAM control based on a notification of a preliminary criminal investigations involving the power plants conducted by the Prosecutors' office in Milan. EAM has formally received the GSE decision notification for only 2 out of the 17 affected power plants. However, EAM believes GSE has issued the formal notice for all 17 power plants in early August although the notices have not yet been received by EAM. The suspension can be challenged in the Administrative Court with a resulting reinstatement of FIT and RID payments. EAM will decide what legal actions to perform during the next weeks.

A positive decision by the Administrative Court to terminate the suspension decision made by GSE will result in the repayment of revenues withheld during the suspension period.

About Aveleos S.A.

Aveleos S.A, headquartered in Luxembourg, was established in 2010 as a joint venture between Enovos Luxembourg SA (59% ownership) and Avelar Energy Ltd (41% ownership). The objective of Aveleos has since its inception been to develop, operate and sell to the market photovoltaic plants in Italy and France.

Aveleos is a subsidiary company of Enovos Luxembourg S.A. The company has no employees but is governed by a Board of Managing Directors reflecting the share ownership of the company.

About Enovos Luxembourg S.A and Enovos International S.A.

Enovos Luxembourg S.A., a 100% subsidiary of Enovos International S.A. Enovos International S.A. is headquartered in Luxembourg.

Enovos International S.A. is owned 25.44% by the State Luxembourg, Ardian/AXA Redilion Management - 23,48%, RWE Energy - 18,36%, E.ON Ruhrgas - 10.0% SNCI (Société Nationale de Crédit et d'Investissement 10.01%, Administration communale de la Ville de (City of) Luxembourg 8% and GDF Suez (Electrabel S.A.) - 4.71%.

About Avelar Energy Group

Avelar Energy Group is a Zurich-based energy company, established in 2006. Avelar's activities cover several areas of the energy sector.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM notice 4 Sep 2014

04.08.2014 EAM Solar ASA : Q2 2014 financial report

EAM: Q2 2014 financial report
 
The highlights from the report are as follows:
 

Main activity in the second quarter was the finalization of the negotiations and due diligence of the P31 portfolio. The final agreements for the purchase were signed on the 26th of June.
Q2 power production was 3,28 GWh, 7% above seasonal average, bringing first half year production to 4,8 GWh equivalent to 2% above normal for the period (excluding P31 power plants)
Reported EBITDA in the quarter was EUR 468k, adjusted for P31 acquisition costs, EBITDA was EUR 861k. Slightly higher cost of operations in the quarter is related to maintenance and larger scope of operations.
EAM published a Stock exchange notice on Monday the 28th of July commenting on subsequent events relating to the P31 portfolio acquisition, these events are also commented in more detail in the Q2 report.

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf EAM Solar ASA Q2 2014 report

29.07.2014 EAM Solar ASA : 2nd quarter 2014 short summary report

EAM Solar ASA : 2nd quarter 2014 short summary report
 
29th of July 2014

Main activity in the second quarter was the finalization of the negotiations and due diligence of the P31 portfolio. The final agreements for the purchase were signed on the 26th of June.

Q2 power production was 3,28 GWh, 7% above seasonal average, bringing first half year production to 4,8 GWh equivalent to 2% above normal for the period (excluding P31 power plants).

Reported EBITDA in the quarter was EUR 607k, adjusted for P31 acquisition costs, EBITDA was EUR 868k. Slightly higher cost of operations in the quarter is related to maintenance.

See enclosed short summary report for further details.

EAM will issue a full Q2'2014 report in the coming days.

 

 For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

 
 
2014 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Q2 2014 short summary report

28.07.2014 EAM Solar ASA: Investigations against seller of P31 power plants

EAM: Investigations against seller of P31 power plants

28th of July 2014

EAM Solar ASA has been made aware of an investigation by the public prosecutors' office in Milan against employees of the Seller of the P31 portfolio companies. EAM has not received any information concerning the investigation of the Seller's employees.

EAM Solar ASA discovered that the bank accounts of the acquired P31 companies had been restricted by court order but has not received any information or documentation on this fact.

EAM Solar discovered on its own initiative that according to the online portal of the GSE, the Italian governmental agency responsible for the Feed-in Tariff (FIT) contracts, the contractual status of the FIT contracts for certain of the power plants acquired as part of the P31 portfolio has changed from active to suspended late on Friday the 25th of July. EAM Solar has not received any notification or information from the GSE concerning any suspension or change in status of any of the FIT contracts.

EAM has initiated the necessary formal actions in order to receive all appropriate information from the relevant authorities and expect to be able to revert to the market with more precise information shortly.

For information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

21.07.2014 EAM Solar ASA: Changes in financial calendar for the second quarter 2014

EAM: Changes in financial calendar for the second quarter 2014

21st of July 2014

EAM Solar ASA changes the previously announced date for releasing financial information for the Second Quarter 2014 from the 22nd of July 2014 to the 29th of July 24 2014.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. Following the P31 acquisition, the Company owns 35 solar PV power plants in Italy with a capacity of 37MW. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

16.07.2014 EAM Solar ASA: P31 partial transfer executed

EAM: P31 partial transfer executed

16th of July 2014

Reference is made to the stock exchange notice issued the 26th of June 2014.

On the 15th of July EAM Solar ASA executed the transfer of the shares of 7 out of a total of 8 companies that comprises the P31 portfolio, effectively bringing the power plants owned by the SPV's under EAM's operational control.

The 7 companies represents 21 of the total 31 power plants in the P31 Portfolio equivalent to 20,5MW out of a total of 30,4MW.

A partial closing was decided and executed by EAM Solar and the seller due to matters remaining to be resolved concerning the last bank waiver affecting the last SPV to be purchased, which comprise 10 power plants.

Since these matters not is expected to be determined before September/October the parties decided to conduct a partial transfer of the companies not affected by this bank waiver.

The partial transfer has been executed on the premise that all the 31 purchased power plants are transferred as agreed.

The amended conditions for the purchase of the P31 portfolio as described in the stock exchange notice the 26th of June remains unchanged. However, any material changes to the lending conditions relating to the last bank waiver beyond the already assumed changes will result in further reduction in the purchase price.

Since the transfer of control of the 7 companies took place the 15th of July, the accounts of EAM Solar ASA will included the 21 power plants from this date. EAM will issue the 2nd quarter report shortly and the transaction and revised acquisition parameters will be presented in detail in the 2nd quarter report.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. Following the P31 acquisition, the Company owns 35 solar PV power plants in Italy with a capacity of 37MW. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

26.06.2014 EAM Solar ASA: P31 closing conducted

EAM: P31 closing conducted 

26th of June 2014

EAM Solar ASA signed the revised and final closing agreement and executed the transfer deed of the P31 portfolio acquisition last night. The transfer of the shares of the acquired companies to the Company is expected to take place on Monday the 30th of June after receiving the last of four bank waivers.

As a result of the confirmatory due diligence conducted after the signing of the initial Share Purchase Agreement in December 2013, and due to subsequent events, the final terms and conditions of the acquisition has been changed in order to secure the same or an improved return on equity for EAM Solar ASA.

The final acquisition price for the acquired companies is adjusted from the initial EUR 41,6m to EUR 36,8m (including net working capital). In addition EAM will purchase net receivables towards the acquired companies from Aveleos SA for an amount of EUR 11,5m. The purchased companies have approximately EUR 7m in cash and EUR 10m in receivables at the closing date. EUR 11,3m of the payment has been deferred until the end of the year pending the final outcome of the post closing adjustments.

The determination of the final acquisition price is subject to certain post-closing adjustments to be settled in the second half of 2014. The post-closing purchase price adjustments are related to three subsequent events and the price adjustments are structured to achieve the same or improved return on equity if any of the following events should occur post closing;

  1. If a change in the payment structure of the FIT contracts or an additional taxation of Solar Power Plants, as officially proposed by the government in Italy yesterday, should take effect, the purchase price will be reduced with a maximum of EUR 7,5m depending on the final outcome of the law proposal.
     
  2. If the adjusted power production performance of the power plants in 2014 are higher or lower than the normalized expected production, the seller may receive an additional payment of up to maximum EUR 4m, or the purchase price may reduced by maximum EUR 4m.
     
  3. The financing banks have withheld EUR 6,6m in undrawn loans. In the case these loans are not released during the 2nd half 2014, the purchase price will be reduced by EUR 775k. The release of the undrawn loans is subject to receiving the Final Acceptance Certificate on the power plants, a measure EAM starts immediately post closing. If the loans are not released the gross interest bearing debt will be reduced accordingly. At the closing date the gross interest bearing debt is approximately EUR 69m.

The P31 process was initiated in November 2013 and further reference is made to previous Stock Exchange notices, financial reports for the fourth quarter 2013, first quarter 2014 and prospectus issued in conjunction with the private placement completed in January 2014. The P31 acquisition is a significant step towards reaching EAM Solar's targets for growth and profitability.

EAM has until today owned four solar plants with a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh.  The P31 portfolio has a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh. As a result EAM's expected annual revenues will increase from approximately EUR 3.5 million to approximately EUR 20 million (before changes to the FIT payment structure).

Yesterday the government of Italy issued the law decree, subject to approval in the Parliament, proposing changes to the regulatory and financial regime of the electricity sector in Italy. The regulatory changes will affect the revenues received by solar PV power plants through the FIT contracts with GSE. The proposed measures are either through a reduction in the annual FIT revenues ranging from 17% to 25% depending on the remaining contract lifetime and a 4-year prolongment of the contract period, or through a voluntary 8% annual reduction in the FIT.

As previously communicated EAM Solar consider the regulatory changes to have a limited effect for the existing power plants in the EAM portfolio due to their financial structure. Furthermore the possible Italian tariff changes to contribute positively to the solar power plant transaction market and open further strategic opportunities in Italy.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. Following the P31 acquisition, the Company owns 35 solar PV power plants in Italy with a capacity of 37MW. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

18.06.2014 EAM Solar ASA: Proposed regulatory change in Italy and P31 closing

EAM: Proposed regulatory change in Italy and P31 closing

18th of June 2014

Today the Italian Government has announced that they expect to propose to the Italian Parliament changes to the regulatory and financial regime of the electricity sector in Italy. The purpose is to reduce the overall electricity bill for households and small business by 10%, equivalent to approximately EUR 3bn.

As part of the measures proposed to achieve such a reduction, the Government of Italy proposes measures that will affect the revenues received by solar PV power plants through the FIT contracts with GSE. The proposed measures are either through a reduction in the annual FIT revenues ranging from 17% to 25% depending on the remaining contract lifetime and a 4-year prolongment of the contract period, or through a voluntary 10% annual reduction in the FIT. The Governments proposal may be officially proposed to the Parliament during the next couple of weeks.

EAM Solar ASA is in the process of closing the acquisition of the P31 portfolio and expects to do so within short. EAM has been aware of the Governments possible proposal to changes in the Italian power tariff regime, and has taken such change into consideration in the ongoing valuation negotiations of the final purchase agreement. Consequently, a FIT change should not affect the expected capital return from the acquisition.

Reference is made to previous Stock Exchange releases, financial reports for the fourth quarter 2013, first quarter 2014 and prospectus issued in conjunction with the private placement.

Overall EAM Solar consider the possible tariff changes to contribute positively to the solar power plant transaction market and open further strategic opportunities in Italy. EAM Solar currently evaluates several opportunities that may represent further step changes for the company.

The regulatory changes will have a limited effect for the existing power plants in the EAM portfolio due to their financial structure.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

28.05.2014 EAM Solar ASA: Minutes from the Annual General Meeting 28th of May 2014

EAM: Minutes from the Annual General Meeting the 28th of May 2014

28th of May 2014

EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, today.

A total of 2,487,775 shares equivalent to 49.069% of the total shares in the company were represented through participation or proxy.

All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.

The minutes of the Annual General Meeting is attached to this notice.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a power production company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Minutes of the AGM 28 May 2014

12.05.2014 EAM Solar ASA : Shares trading ex dividend of NOK 3 today

EAM: Shares trading ex dividend of NOK 3 today

12th of May 2014

Reference is made to the stock exchange notices dated the 7th of May 2013.

Based on the decision of the Extraordinary General Meeting the 17th of December 2013, and the subsequent resolution made by the Board of Directors in conjunction with the Company's first quarter 2014 report, the Company will pay a dividend of NOK 3 per share.

EAM Solar ASA shares trade ex dividend of NOK 3 from today.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

07.05.2014 EAM Solar ASA: Shares trade ex dividend the 12th of May

EAM: Shares trade ex dividend the 12th of May

7th of May 2014

Based on the decision of the Extraordinary General Assembly the 17th of December 2013, and the subsequent resolution made by the Board of Directors in conjunction with the Company's first quarter 2014 report, the Company will pay a dividend of NOK 3 per share.

EAM Solar ASA shares will trade ex dividend from the opening of the market on Monday the 12th of May 2014.

The dividend payment is expected received by the shareholders the 21st of May.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns four solar PV power plants in Italy. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

07.05.2014 EAM Solar ASA: Summons to the Annual General Meeting 2014

EAM: Summons to the Annual General Meeting 2014

7th of May 2014

The Annual General Meeting of EAM Solar ASA will be held in the Company's offices at Dronningen 1, Oslo, Norway, on the 28th of May 2014 at 15:00 CET.

Please find the enclosed the Notice of the meeting, the 2013 Annual report and the recommendations of the Nomination Committee.

Further information is found on the Company's web page www.eamsolar.no .

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns four solar PV power plants in Italy. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Notice of AGM 2014

pdf Annual Report 2013

pdf Nomination Committee reccomendations

05.05.2014 EAM Solar ASA : Updated calendar 2014

EAM: Updated calendar 2014

5th of May 2014

EAM Solar ASA has updated its 2014 calendar for financial reporting and the Annual General Meeting;

The Annual General Meeting of EAM Solar ASA will be held on Wednesday the 28th of May at 15:00 CET in the company's offices at Dronningen 1, Oslo. The Summons to the Annual General Meeting will be published in a separate notice.

The financial reporting calendar for EAM Solar ASA will be as follows:

Q2 2014: Tuesday 22nd of July

Q3 2014: Tuesday 21st of October

Q4 2014: Tuesday 4th of February 2015

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns four solar PV power plants in Italy. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM updated calendar 2014

01.05.2014 EAM Solar ASA : Annual report 2013

 
EAM: Annual report 2013
 
 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf 2013 Annual report

30.04.2014 EAM Solar ASA : 1st quarter 2014 report

EAM: 1st quarter 2014 report

30th of April 2014

EAM Solar ASA has released the 1st quarter 2014 financial report and the highlights are;

EAM Solar ASA took important strategic steps during the first three months of 2014. The company is close to finalise the P31 transaction at improved terms. Operations have been in line with expectations, and a dividend of EUR 0.36 (NOK 3) is to be paid in May.

  • P31 expected to close near term, yet delayed due to final negotiations, which will reduce the total risk for EAM. The share purchase agreement will be amended and EAM will under certain conditions have the right to sell back some of the power plants and thus lower the portfolio risk.

  • Equity issue of EUR 26,3m (NOK 220m) at an issue price of EUR 5,2 (NOK 80) per share concluded in January. The equity issue and credit facility of EUR 6m secures financing of the P31 acquisition.

  • Q1 power production of 1.5 GWh, 8% lower than seasonal average. Momo and Caltignaga 15% above normal in the quarter while Varmo and Codroipo 14% below normal in the quarter

  • Reported EBITDA in the quarter was negative with EUR 342k, adjusted for equity issue cost and due diligence cost on P31, EBITDA was positive with EUR 216k.

  • 1st quarter 2014 dividend payment of EUR 0.36 (NOK 3) per share decided in accordance with Company bylaws, to be distributed to shareholders in week 20, 2014. Share will trade ex dividend from Monday 12th of May. Full year 2014 dividend distribution based on the P31 acquisition is expected between EUR 0,84 to 1,2 per share (NOK 7 to 10) to be paid on a quarterly basis.

See enclosed 1st quarter financial report for further details.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns four solar PV power plants in Italy. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Q1 2014 Financial Report

pdf EAM OSE notice Q1 2014

31.03.2014 EAM Solar ASA: Update on the P31 portfolio acquisition closing

EAM: Update on the P31 portfolio acquisition closing

31st of March 2014

Reference is made to previous Stock Exchange releases, the 4th quarter financial report and prospectus issued in conjunction with the Private placement conducted in January 2014.

As previously stated, the financial closing of the P31 portfolio was anticipated to be concluded by the end of the 1st quarter 2014. As of today, some of the conditions precedent to closing has not yet been met. Consequently the consummation of the transaction takes longer than originally anticipated.

According to the Share Purchase Agreement the last day of closing is set at the 30th of April 2014 unless the parties decide otherwise. The economics in the transaction will not be affected by a later closing and will be as described in the Information Memorandum dated 14th of January 2014.

The financial closing and subsequent consummation of the acquisition will occur when all conditions precedent to closing have been satisfied or waived.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

12.02.2014 EAM Solar ASA: 4th quarter report 2013

EAM: 4th quarter report 2013

12th of February 2014

EAM Solar ASA has released the 4th quarter 2013 financial report and the highlights are;

Conditional agreement to acquire 30MW in southern Italy for EUR 114.3 million signed in the 4th quarter. Financial closing expected in 1st quarter 2014

Revenues in 2013 came in at EUR 3,1 million from a power production of 7,4 GWh.

Full year EBITDA adjusted for non-recurring items of EUR 1,65 million.

Reported net profit for 2013 of EUR 4,5 million, adjusted for non-recurring items, gains from bargain purchase and currency exchange gains, net profit came in at EUR 192k.

See enclosed quarterly report for further information

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close. The current portfolio has a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh. On 31 December 2013, EAM Solar signed a sale and purchase agreement ("SPA") to acquire a portfolio of 31 solar power plants in Southern Italy with a combined capacity of 30 MW and an average annual electricity production of approximately 44 GWh for a total consideration of EUR 114.3 million.

For more information, please visit www.eamsolar.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Q4 2013 Financial Report

24.01.2014 EAM Solar ASA : PROSPECTUS APPROVED AND NEW SHARE CAPITAL REGISTERED

PROSPECTUS APPROVED AND NEW SHARE CAPITAL REGISTERED
 
Reference is made to the stock exchange notice published by EAM Solar ASA (the "Company") on 20 January 2014 regarding the completed private placement of 2,750,000 new shares (the "New Shares") at a subscription price of NOK 80.00 (the "Private Placement").
 
The Financial Supervisory Authority of Norway has today approved the prospectus dated 24 January 2014 in connection with the listing of the New Shares. The Prospectus will be made available on the Company's and the Managers' web page and business offices.
 
Furthermore, the share capital increase has now been registered with the Norwegian Register of Business Enterprises ("Foretaksregisteret"). The Company's share capital is NOK 50,700,000 divided into 5,070,000 ordinary shares each with a par value of NOK 10.
 
For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

20.01.2014 EAM Solar ASA : Mandatory notification of trade

EAM: Mandatory notification of trade

20 January 2014

Reference is made to the stock exchange notice dated 20 January 2013 regarding the completion of the private placement of 2,750,000 new shares in EAM Solar ASA ("EAM Solar") (the "Private Placement").

Alden AS, a company associated with Paal E. Johnsen, Chairman of the Board in EAM Solar, has been allocated 56,875 shares in the Private Placement at the offer price of NOK 80.00 per share. As a result of the abovementioned transaction, Alden AS holds 146,875 shares in EAM Solar, equivalent to 2.90% of the outstanding share capital after completion of the Offering. In addition, Alden AS holds 8,000 warrants to subscribe for shares in EAM Solar at an exercise price of NOK 100.

In addition, Hades Capital AS, a company controlled by Paal E. Johnsen, Chairman of the Board in EAM Solar, has been allocated 7,500 shares in the Private Placement at the offer price of NOK 80.00 per share. As a result of the abovementioned transaction, Hades Capital AS holds 7,500 shares in EAM Solar, equivalent to 0.15% of the outstanding share capital after completion of the Private Placement.

Naben AS, a company controlled by Audun W. Iversen, CEO of EAM Solar Park Management AS, has been allocated 6,250 shares in the Private Placement at the offer price of NOK 80.00 per share. As a result of the abovementioned transaction, Naben AS holds 16,250 shares in EAM Solar, equivalent to 0.32% of the outstanding share capital after completion of the Private Placement. In addition, Naben AS holds 2,000 warrants to subscribe for shares in EAM Solar at an exercise price of NOK 100.

AS Brdr Michaelsen, a company controlled by Christian Hagemann, Technical Manager in EAM Solar Park Management AS, has been allocated 3,125 shares in the Private Placement at the offer price of NOK 80.00 per share. As a result of the abovementioned transaction, AS Brdr Michaelsen holds 3,705 shares in EAM Solar, equivalent to 0.07% of the outstanding share capital after completion of the Private Placement.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close. The current portfolio has a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh. On 31 December 2013, EAM Solar signed a sale and purchase agreement ("SPA") to acquire a portfolio of 31 solar power plants in Southern Italy with a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh for a total consideration of EUR 114.3 million.

For more information, please visit www.eamsolar.no

 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

20.01.2014 EAM Solar ASA : Raises NOK 220 million in a private placement

 

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

EAM: Raises NOK 220 million in a private placement

20 January 2014

EAM Solar ASA ("EAM Solar" or the "Company") today announces that the Company has raised NOK 220 million in gross proceeds through a private placement of 2,750,000 new shares, each with a par value of NOK 10.00 at a price of NOK 80.00 per share (the "Private Placement").

The net proceeds from the Private Placement will be used to equity finance the acquisition of a portfolio of 31 solar power plants in Southern Italy with a combined capacity of 30 MW and an annual electricity production capacity of approximately 44 GWh (the "Acquisition"). Based on the net proceeds from the Private Placement, available cash resources and a committed credit facility of NOK 50 million (at 6% interest p.a., if drawn) secured by the existing solar power plants in EAM Solar, the Company has the necessary funding required to complete the Acquisition. In addition, the SPA allows for partial and sequential closing of the Acquisition. The Acquisition is expected to close during Q1 2014.

The Private Placement has been approved by the Board of Directors of the Company in accordance with a resolution by the Extraordinary General Meeting held on 17 December 2013. After the completion of the Private Placement, the Company will have 5,070,000 shares outstanding, each with a par value of NOK 10.00.

Notification of allotment and payment instructions for the Private Placement will be sent to the applicants on or about 20 January 2014. Payment date is set to 22 January 2014 and delivery is expected to occur on or about 24 January 2014. The new shares to be issued in connection with the Private Placement are not tradable until the share capital increase is registered in the Norwegian Business Register and the allocated shares have been delivered to the respective applicants, expected to occur on or about 24 January 2014.

The Private Placement was managed by ABG Sundal Collier Norge ASA, Arctic Securities ASA and Carnegie AS as joint-lead managers and joint bookrunners.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close. The current portfolio has a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh. On 31 December 2013, EAM Solar signed a sale and purchase agreement to acquire a portfolio of 31 solar power plants in Southern Italy with a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh for a total consideration of EUR 114.3 million.

For more information, please visit www.eamsolar.no

Important Notice
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

 

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.

 

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Carnegie is acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the rights issue and/or any other matter referred to in this release.

 

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf NOK 220m private placement

17.01.2014 EAM Solar ASA : Status of bookbuilding

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

EAM: Status of bookbuilding

17 January 2014

Reference is made to the stock exchange notice of 14 January 2014 related to the on-going equity financing in EAM Solar ASA ("EAM Solar" or the "Company") (the "Private Placement") in relation to the sale and purchase agreement (the "SPA") to acquire a portfolio of 31 solar power plants in Southern Italy, with a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh (the "Acquisition").

Based on feedback received in the marketing of the Private Placement, the Company has decided to adjust the size of the transaction to NOK 200-230 million and set the offer price to NOK 80 per share. The Private Placement is covered within the adjusted size range. The book-building period will close at 16:30 CET today.

Based on the net proceeds from the Private Placement, available cash resources and a committed credit facility of NOK 50 million (at 6% interest p.a., if drawn) secured by the existing solar power plants in EAM Solar, the Company has the necessary funding required to complete the Acquisition. In addition, the SPA allows for partial and sequential closing of the Acquisition.

The completion of the Private Placement is subject to the approval by the Board of Directors of EAM Solar pursuant to the resolution by the Extraordinary General Meeting held Tuesday 17 December 2013. Notification of allotment and payment instructions are expected to be sent out on or about 20 January 2014. The payment date is expected to be on or about 22 January 2014 while the delivery of the shares offered in the Private Placement is expected to take place on or about 24 January 2014 (following the publication by the Company of a listing prospectus in compliance with section 7-3 of the Norwegian Securities Trading Act).

Private Placement subscriptions:
ABG Sundal Collier Norge ASA: +47 22 01 60 04
Arctic Securities ASA: +47 21 01 31 85
Carnegie AS: +47 22 00 93 40

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

For more information, please visit www.eamsolar.no

Important Notice
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

 

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.

 

Law may in certain jurisdictions restrict the distribution of this release. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Carnegie is acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the rights issue and/or any other matter referred to in this release.

 

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf Status of bookbuilding

14.01.2014 EAM Solar ASA : Information memorandum and company presentation in conjunction with private placement

EAM: Information memorandum and company presentation in conjunction with private placement

14 January 2014

In conjunction with the private placement EAM Solar ASA has published an information memorandum and a company presentation.

The Information memoranduma and company presentation is attached to this stock exchange notice and may alos be found on the company web site.
 

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM Solar ASA IM

pdf EAM Solar ASA company presentation

14.01.2014 EAM Solar ASA: Announces equity offering to finance the acquisition of portfolio of solar power plants

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE NOTICE

EAM: Announces equity offering to finance the acquisition of portfolio of solar power plants

14 January 2014

Reference is made to the stock exchange notice of 2 January 2014 related to the signing of the sale and purchase agreement to acquire a portfolio of 31 solar power plants in Southern Italy (the "New Portfolio"), with a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh (the "Acquisition"). The Acquisition is initially based on an enterprise value of EUR 114.3 million for the New Portfolio, of which EUR 73.4 million will be financed with the continuation of existing debt in the New Portfolio.

To finance the equity component of the Acquisition, EAM Solar ASA ("EAM Solar" or the "Company") has retained ABG Sundal Collier Norge ASA, Arctic Securities ASA and Carnegie AS as joint-lead managers and joint bookrunners to advise on and effect a private placement directed towards Norwegian and international investors with targeted gross proceeds of NOK 350 million (the "Private Placement"). The Private Placement will be marketed with an indicative price range of NOK 80-85 per share.

The book-building period will commence today at 09:00 CET and is expected to close at 20:00 CET on 16 January 2014. The Company may, however, at any time close or extend the book-building period at its discretion. The minimum subscription in the Private Placement has been set to NOK 1 million.

The competition of the Private Placement is subject to the approval by the Board of Directors of EAM Solar pursuant to the resolution by the Extraordinary General Meeting held Tuesday 17 December 2013. Notification of allotment and payment instructions are expected to be sent out on or about 17 January 2014. The payment date is expected to be on or about 21 January 2014 while the delivery of the shares offered in the Private Placement is expected to take place on or about 23 January 2014 (following the publication by the Company of a listing prospectus in compliance with section 7-3 of the Norwegian Securities Trading Act).

Private Placement subscriptions:
ABG Sundal Collier Norge ASA: +47 22 01 60 04
Arctic Securities ASA: +47 21 01 31 85
Carnegie AS: +47 22 00 93 40

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

For more information, please visit www.eamsolar.no

Important Notice
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

 

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.

 

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Carnegie is acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the rights issue and/or any other matter referred to in this release.

 

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

02.01.2014 EAM Solar ASA : Share Purchase Agreement signed to acquire portfolio of solar power plants

EAM: Signed SPA to acquire portfolio of solar power plants

2nd of January 2014

Reference is made to the stock exchange releases dated 26th of November 2013 and 16th of December 2013 related to the acquisition of a portfolio of 31 solar power plants in Southern Italy (the "New Portfolio").

On 31st of December 2013, EAM Solar signed the sale and purchase agreement (the "SPA") to acquire the New Portfolio. Based on the satisfaction of all conditions precedents, including the completion of certain confirmatory elements of the due diligence process, continuation of existing debt financing agreements, and the completion of the equity financing of the acquisition, EAM Solar expects the closing of the acquisition to occur during Q1-2014.

The New Portfolio has a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh. EAM currently owns four solar plants with a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh.

In accordance with the due diligence process and the resulting negotiations, the initial purchase price for the shares in the New Portfolio has been reduced from EUR 41.6 million to EUR 40.9 million, resulting in an EV of EUR 114.3 million. The New Portfolio has existing debt financing of EUR 73.4 million as of the financial take-over date 1st of January 2013.

Along with the reduced initial price, the earn-out amount held in escrow has been reduced from EUR 6.0 million to EUR 3.375 million. This reflects that the earn-out amount related to changes in the market price for electricity has been reduced from EUR 4.5 million to EUR 3.375 million, and that the earn-out element related to changes in the taxation of solar power plants in Italy has been taken out. In addition there is an adjustment to the acquisition price of +/- EUR 4 million related to achieved electricity production in 2014 from the power plants. The settlement of all the adjustments to the acquisition price will be finalized in 2015.

In conjunction with the closing of the acquisition and subsequent increased scope of EAM's business in Italy, Energeia Asset Management AS will establish an operational office in Italy during the first half 2014 that will manage the day-to-day operation of EAM Solar ASA's power plants in Italy.

Based on the positive investor feedback after the announcement of this transaction, EAM Solar expects to complete the equity financing of the purchase price during January 2013.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

17.12.2013 EAM Solar ASA: Minutes from Extraordinary General Meeting 17th of December 2013

EAM: Minutes from Extraordinary General Meeting 17th of December 2013

17th of December 2013

An Extraordinary General Meeting was held in EAM Solar ASA on Tuesday the 17th of December 2013.

The EGM notice, minutes of the meeting and the record of attendees and proxy's are enclosed to this notice.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a power production company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EGM minutes

pdf Record of attendees

pdf Notice of EGM

16.12.2013 EAM Solar ASA: Update of portfolio acquisition process

EAM: Update of portfolio acquisition process

16th of December 2013

Reference is made to the Stock Exchange release issued the 26th of November 2013 where EAM Solar ASA announced that it had signed a binding term sheet to acquire a portfolio of solar power plants in Southern Italy.

The New Portfolio has a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh. EAM currently owns four solar plants with a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh.

The acquisition is subject to certain conditions, including a satisfactory confirmatory due diligence. The finalization of a satisfactory due diligence process is taking longer than initially anticipated due to the complexity of the transaction. The portfolio consists of eight companies that own 31 solar power plants in the Puglia region in Southern Italy.

EAM Solar anticipates the due diligence process to be concluded shortly. Based on a positive outcome of the due diligence EAM Solar plans to enter into a Sale and Purchase Agreement before year-end 2013.

Based on the positive investor feedback after the announcement of this transaction, EAM Solar expects to complete the financing and finalize the transaction during January 2014.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Update P31 acquisition

02.12.2013 EAM Solar ASA : Company presentation

 

EAM: Company presentation

2nd of December 2013

EAM Solar ASA has published a company presentation. The presentation is attached to this release and available on the company web site (www.eamsolar.no).

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM Solar ASA company presentation

28.11.2013 EAM Solar ASA: Corrected notice to EGM 17 December 2013

EAM Solar ASA: Corrected Notice of Extraordinary General Meeting
 
Correction: EAM Solar issued a notice of an Extraordinary General Meeting to be held on Tuesday 17th of December 2013 at 15:00 at the Company's offices at Dronningen 1, Oslo.
 
In the Stock Exchange notice pubilshed the 26th of November 2013 at 13:56 CET, the attachment contained a typo under item 3. 
 
In the attached Notice of Extraordinary General Meeting this typo has been corrected.
 
The corrected notice of the meeting is enclosed and sent to the Company's shareholders through this announcement, and is also accessible on the company web site www.eamsolar.no, in accordance with the Company's article of association no. 6.
 
For further information, please contact: Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
 
About EAM Solar: EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf EAM Solar ASA Notice of EGM 17 Dec 2013

26.11.2013 EAM Solar ASA : Extraordinary General Meeting 17th of December 2013

26th of November 2013


EAM  Solar  ASA  will  convene  an  Extraordinary General Meeting (the "EGM") on
Tuesday  the  17th of December  2013 at  15:00 CET  at the Company's offices at
Dronningen  1, Oslo, in  conjunction with the approval of the equity issue in
conjunction with the acquisition of Project 31 and the Board of Directors request
to distribute dividends to the shareholders.


The notice of the meeting is enclosed and sent to the Company's shareholders through this announcement, and is also accessible on the company web site www.eamsolar.no, in accordance with the Company's article of association no. 6. For further information, please contact: Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no About EAM Solar: EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
pdf EGM Notice 17 Dec 2013

26.11.2013 EAM Solar ASA : Acquisition of portfolio of solar power plants initiated

EAM: Acquisition of portfolio of solar power plants initiated

26th of November 2013

EAM Solar ASA ("EAM") has signed a binding term sheet to acquire a portfolio of solar power plants in Southern Italy, with a combined capacity of 30 MW and an average annual electricity production capacity of approximately 44 GWh. The power plants were all constructed in 2011 and have been in operation since. The solar power plants benefit from long-term fixed price electricity sales contracts with GSE, in line with EAM's existing portfolio.

EAM currently owns four solar plants with a combined capacity of 6.6 MW and an annual production capacity of approximately 9 GWh. As a result of the acquisition, EAM's expected annual revenues will increase from approximately EUR 3.5 million to approximately EUR 20 million. The acquisition thus represents a step change towards realising the company's communicated growth strategy.

The acquisition is initially based on an enterprise value of EUR 115 million for the acquired portfolio, of which EUR 73.4 million will be financed with the continuation of existing debt and the remainder with a combination of existing cash resources and new equity in EAM Solar ASA. Any new equity issuance will be subject to the approval by an Extraordinary General Meeting (the "EGM") to be called for later today. The EGM is expected to be held on Tuesday 17th of December.

The final acquisition price will be subject to an earn-out structure relating to the operational performance of the solar power plants in 2014, as well as possible changes in commercial contracts and tax regulations. The financial take-over date is the 1st of January 2013, which may enable EAM to distribute dividends based on the 2013 earnings.

The acquisition is subject to certain conditions, including satisfactory confirmatory due diligence, continuation of existing financing agreements, and final approval by the board of directors of EAM Solar ASA.

Based on a completion of this transaction and EAM's current project pipeline, EAM Solar ASA is in a position to further growth in 2014.

Portfolio description
The portfolio consists of eight companies (the "Target Companies") that own 31 solar power plants (the "Target SPPs") in the Puglia region in Southern Italy with a combined capacity of approximately 30 MW and an initial annual average electricity production capacity of approximately 44 GWh.

The Target SPPs all benefit from a 20-year Feed-in Tariff contract under Conto Energia II, Conto Energia III or Conto Energia IV. The solar power plants were all constructed in 2011 and have been in operation since.

The Target Companies have no employees, and will subsequent to the acquisition be managed through the management agreement between EAM Solar ASA and Energeia Asset Management (through its daughter company SPM).

All Target SPPs currently operate under an operation and technical management contract with a third party service provider. Although EAM initially will maintain these O&M agreements, SPM will review historical performance in 2012 and 2013, and seek to improve operations after operational control has been assumed.

In 2014, the portfolio is expected to produce approximately 44 GWh, generating revenue in the range EUR 16 million to 17 million, with an EBITDA in the range EUR 13 million to 14 million.

Gross interest bearing debt at the financial take-over date the 1st of January 2013 is approximately EUR 73.4 million with a 17-year remaining instalment period. The debt financing is a mixture between financial lease and non-recourse project financing with total debt service payments between EUR 6.7 million and 7.3 million.

Acquisition
The acquisition will be conducted as a corporate cash acquisition whereby EAM Solar ASA acquires the shares in the eight companies owning the 31 power plants.

The acquisition is based on an enterprise value of approximately EUR 115 million, financed by an existing debt facility of EUR 73.4 million and cash payment of EUR 41.6 million for the equity, including EUR 6 million held in escrow to cover the outcome of certain events (further described below). In addition, there is an adjustment for the net working capital in the acquired companies.

The initial agreed price for the shares in the Target Companies is EUR 41.6 million in cash. However, in order to alleviate certain risks related to operational performance, a negative change to the commercial contract (RID) for solar power plants below 1MW in size, and changes to the taxation of solar power plants in Italy during 2014, an earn-out mechanism has been established to cover the outcome of these three events.

The agreed earn-out amount related to changes in tax regulation and guaranteed RID price is EUR 6 million. This earn-out amount will be paid to an escrow account and relevant earn-out amounts will be payable in 2015 based on the actual outcome of these events in 2014.

In addition to the earn-out held in escrow, the seller has agreed to provide a performance guarantee, whereby the seller will reimburse EAM Solar ASA up to EUR 4 million in 2015 if the actual achieved operational performance of the power plants is below a certain threshold during 2014.

Conditions
The acquisition is conditional on the following:

  • Satisfactory confirmatory due diligence
  • All existing financing agreements prolonged without additional costs
  • Additional equity financing in place
  • Approval by the Board of Directors

The transaction is expected finalized during December 2013.

For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM OSE notice Project 31

24.10.2013 EAM Solar ASA : 3rd quarter 2013 report

 

EAM: 3rd quarter 2013 report

24th of October 2013

EAM Solar ASA has released the 3rd quarter 2013 financial report and the highlights are;

Sales for the first 9 months of 2013 came in at EUR 2,61 million from a power production of 6,1 GWh.

9 month EBITDA adjusted for non-recurring items and agio of EUR 1,69 million.

Reported net profit for the first 9 months 2013 of EUR 4,4 million, adjusted for non-recurring items, gains from bargain purchase and agio, net profit came in at EUR 575k.

The EUR 3,52 million acquisition of M&T Solare Srl conducted in September resulted in a gain on bargain purchase of EUR 2,4 million. The gain stems from the positive difference between the book value of the assets in the acquired company and the purchase price.

EAM Solar ASA conducted its first cash distribution to the shareholders in August of EUR 0,62 (NOK 5) per share.

In the 4th quarter EAM are in advanced stage of acquisition negotiations on several solar PV power plants.

See enclosed 3rd quarter financial report for further details.

For additional information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns four solar PV power plants in Italy. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Q3 2013 Financial Report

21.10.2013 EAM Solar ASA : Minutes from the Extraordinary General Meeting the 18th of October 2013

EAM: Minutes from Extraordinary General Meeting 18th of October 2013

18th of October 2013

An Extraordinary General Meeting was held in EAM Solar ASA on Friday the 18th of October 2013.

The minutes of the meeting and the record of attendees and proxy's are enclosed to this notice.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Minutes from EGM

pdf Record of attendees

27.09.2013 EAM Solar ASA : Extraordinary General Meeting 18th of October 2013

 

27th of September 2013

EAM Solar ASA will convene an Extraordinary General Meeting (the "EGM") on Friday the 18th of October 2013 at 15:00 CET at the Company's offices at Dronningen 1, Oslo, in conjunction with the election of a new member to the Board of Directors.

The notice of the meeting is enclosed and sent to the Company's shareholders through this announcement, and is also accessible on the company web site www.eamsolar.no, in accordance with the Company's article of association no. 6.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Notice of extraordinary general assembly in EAM Solar ASA 18 Oct 2013

pdf EAM OSE notice Extraordinary General Meeting 27 Sep 2013

27.09.2013 EAM Solar ASA : Acquisition of two Solar PV power plants conducted

 

27th of September 2013

Reference is made to the stock exchange notice dated the 18th of July 2013; "Acquisition of solar power plant in Italy initiated".

EAM Solar ASA has today finalized the acquisition of two solar PV power plants through the acquisition of shares and shareholder loan in the Italian company M&T Solare Srl. The acquisition is conducted by EAM Solar ASA's 100% owned daughter company EAM Solar Italy 3 Srl.

The acquisition represents an enterprise value of EUR 3,6m and is 100% equity financed. Due to the positive difference between the book value of the assets and the acquisition price, the 3rd quarter financial result may include a gain on bargain purchase of approximately EUR 2m.

The two power plants, Momo and Caltignaga, have a combined capacity of 1,93MW and produces about 2.2GWh of electricity annually. Both plants are located in the North of Italy in the Piemonte region.

Both power plants commenced commercial operations in 2011 and have entered into a 20-year fixed-price electricity sales contract with the Itailan state company GSE.

In addition to the Solar power plants, M&T Solare Srl also owns the land on which the power plants are constructed, which is included in the acquisition price.

EAM acquires the power plants with financial ownership from the 1st of July 2013, but the operations will be included in the accounts from the 1st of October 2013.

Further detail of the acquisition and power plants will be provided in the forthcoming 3rd quarter report 2013 to be published the 24th of October 2013.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term electricity sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM OSE notice Momo acquisition 26 SEP 2013

12.08.2013 EAM Solar ASA : Shares trading ex dividend of NOK 5 today

EAM: Shares trading ex dividend of NOK 5 today

12th of August 2013

Reference is made to the stock exchange notices dated 18 July and 8 August 2013. The resolution of the Annual General Assembly on 14  May to reduce the share premium fund by NOK 175,000,000 and to pay a dividend  of NOK 5 per share, was registered with the Norwegian Register of Business Enterprises after close of trading on 9 August.

EAM Solar ASA shares trade ex dividend of NOK 5 from today.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

09.08.2013 EAM Solar ASA : Trading ex dividend from the 12th of August

EAM: Trading ex dividend from the 12th of August

9th of August 2013

Reference is made to the stock exchange notice dated 18 July 2013. The resolution of the Annual General Assembly on the 14th of May to reduce the share premium fund by NOK 175,000,000 and to pay a dividend of NOK 5 per share, will be registered with the Norwegian Register of Business Enterprises after close of trading today. EAM Solar ASA shares will trade ex dividend from the 12th of August 2013.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

01.08.2013 EAM Solar ASA : Mandatory notification of trade

EAM: Mandatory notification of trade

1st of August 2013

Mr. Christian Hagemann, employee and a Primary Insider of EAM Solar ASA has through his wholly owned company As Brdr Michaelsen acquired 580 shares at an average price of NOK 99.43 per share. Following the transaction he owns 580 shares in the Company

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

18.07.2013 EAM Solar ASA : Shares trade ex dividend the 12th of August

EAM: Shares trade ex dividend the 12th  of August

18th of July 2013

Based on the decision of the Annual General Assembly the 14th of May to pay a dividend of NOK 5 per share, EAM Solar ASA shares will trade ex dividend from the 12th of August 2013.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM OSE notice ex dividend

18.07.2013 EAM Solar ASA: Acquisition of solar power plant in Italy initiated

EAM: Acquisition of solar power plant in Italy initiated

18th of July 2013

EAM Solar ASA has signed a binding term sheet with the purpose of acquiring two solar PV power plants in the north of Italy.

Both plants where constructed in 2011 and have been in operation since. The power plants benefits from long-term fixed price electricity sales contracts with GSE.

The acquisition is subject to a positive outcome of the due diligence, and is expected finalized during September 2013.

The due diligence process has commenced and the planned financial take-over date is the 1st of July 2013.

The acquisition represents an enterprise value of approximately EUR 4 million and will initially be 100% equity financed by EAM Solar ASA.

Subject to the preliminary findings, the commencement of the acquisition may have a one-off effect on the 3rd quarter result through a gain on bargain purchase of approximately EUR 1,6m due to a positive difference between the acquisition price and the book value of the power plant assets in the balance sheet of the company to be acquired.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM OSE notice Acquisition 18 July 2013

18.07.2013 EAM Solar ASA: 2nd quarter 2013 report

EAM: 2nd quarter 2013 report

18th of July 2013

EAM Solar ASA has released the 2nd quarter 2013 financial report.

Sales in the first half 2013 came in at EUR 1.48 million and EBITDA adjusted for non-recurring items and agio came in at EUR 862k.

Reported net profit for the first half 2013 came in at EUR 1 million representing an earnings per share of EUR 0.58.

Highlights are; first dividend of NOK 5 per share to be paid in August, and acquisition of new solar power plants commenced in June.

For further information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Q2 2013 Financial report

pdf EAM OSE notice Q2 2013 report

07.06.2013 EAM Solar ASA: Capital Markets Day

7th June 2013

EAM Solar ASA hosts its Capital Markets Day today in Friuli, Italy

The presentation from the Capital Markets Day is enclosed.

For further information, please contact:
Audun W. Iversen, CEO, phone +47 916 16 250,
audun@eamsolar.no

About EAM Solar:
EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM Solar ASA CMD 7 June 2013.pdf

14.05.2013 EAM Solar ASA: Minutes from the Annual General Assembly 2013

14th May 2013

EAM Solar ASA conducted its Annual General Meeting in its offices at Dronningen 1, Oslo, today.

A total of 1,535,195 shares equivalent to 66.17% of the total shares in the company were represented through participation or proxy.

All decisions where passed unanimously and in accordance with the proposal made by the Board of Directors and the Company's Nomination Committee.

The main decision made by the general assembly was;

  1. In accordance with the condition set by the Board of the Oslo Stock Exchange, in relation to approval of the listing of EAM Solar ASA on Oslo Axess, to supplement the Board of Directors in EAM Solar ASA with an additional independent board member within the 15th of May, the General Assembly today approved the election of Ragnhild Wiborg as the fourth Board member, based on the Nomination Committee's proposal. EAM Solar ASA has thereby fulfilled the condition of listing on Oslo Axess.
     
  2. The General Assembly approved the proposal made by the Board of Directors to reduced the share premium fund by NOK 175m, whereby NOK 11,6m will be distributed to the Company's shareholders. The distribution is equivalent to NOK 5 per share. Date of distribution will be announced at a later date, but will most likely be conducted in July/August 2013.
     

See the enclosed minutes from the General assembly for further details.

For further information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E. Jakobsen, Executive Director, phone +47 916 11 009, viktor@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM Solar ASA – Minutes from Annual General Assembly 14 May 2013

pdf EAM Børs melding 14 May 2013

30.04.2013 Invitation to EAM Solar ASA's Capital Markets Day 2013

EAM Solar ASA (EAM) invites you to attend its Capital Markets Day near Venezia on Friday June 7, 2013.

Representatives from EAM SPM will discuss the company's strategy, business opportunities and progress.

Please find invitation attached.
Registration is required by May 24 2013
rolf@eamsolar.no

pdf Hold the date 2013 for EAM CMD

30.04.2013 EAM Solar ASA enters into Market Making Agreement

30th April 2013

EAM Solar ASA has on 30 April 2013 entered into a Market Making Agreement with Carnegie AS for the company's shares. The purpose of the agreement is to increase the liquidity of the shares of the company, which is listed on Oslo Stock Exchange. The Agreement is in accordance with the standard requirements of Oslo Stock Exchange.

For further information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E. Jakobsen, Director , phone +47 916 11 009, viktor@eamsolar.no

About EAM Solar:

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf EAM Solar ASA – OSE notice Market making agreement 30 April 2013

30.04.2013 EAM Solar ASA: First quarter 2013 report

30th April 2013

EAM Solar ASA reports operational and financial results for the 1st quarter 2013.

Main financial results;

Power production of 1,102MWh (1,176MWh in Q1'2012)

Revenues of EUR 496k (EUR 500k in Q1'2012)

EBITDA of EUR -192k (EUR -49k in Q1'2012)

Adjusted EBITDA of EUR 133k (EUR 246k in Q1'2012)

Main events;

IPO on the Oslo Stock Exchange 26th of March

Board proposes first distribution to shareholders of NOK 5 per share to be decided in Annual general Meeting the 14th of May.

See enclosed financial report for the first quarter 2013 for further details.

For further information, please contact:

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

Viktor E. Jakobsen, Director , phone +47 916 11 009, viktor@eamsolar.no

About EAM Solar:

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy, acquired during in 2011/12. The plants are operating under long-term sales contracts. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close with the geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Q1 2013 Financial report

23.04.2013 EAM Solar - Notice of Annual General Meeting

The Annual General Meeting of EAM Solar ASA will be held in the company offices at Dronningen 1, Oslo, Norway on 14 May 2013 at 15:00 CET.

Please find the notice of the meeting, as well as the nomination committee's recommendations (Norwegian) enclosed.

Further information is found on the Company web page www.eamsolar.no

For more information, please contact:

Viktor E. Jakobsen

Tel: +47 916 16250

About EAM Solar

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns two solar power plants - Varmo and Codroipo in Italy - which were acquired during the winter 2011/12.

The two plants hold an aggregate production capacity of 4.65 MW, and are operating under long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close.

pdf EAM Solar ASA – Notice of Annual General Meeting 14 May 2013

pdf EAM Solar ASA – Recommendation from the nomination committee-Norwegian

26.03.2013 EAM - Targets PV projects in Italy after successful Initial Public Offering

Oslo, 26 March 2013

EAM - Targets PV projects in Italy after successful Initial Public Offering EAM Solar ASA ("EAM Solar" or the "Company") last week announced the successful completion of its initial public offering with its shares to be listed on Oslo Axess under the ticker "EAM" on Oslo Stock Exchange, Norway.
With a shareholder base of leading Scandinavian institutional investors, EAM is now well positioned to acquire large scale PV plants in operation and portfolios. Initial focus will be on Italy, with France and UK as secondary markets says Oystein Kvarme, Partner at EAM Solar Park Management and Head of Acquisitions and Industrial Partnerships.

***

EAM is the first listed company with focus on PV plants in operation, without taking project development or construction risk. EAM will own and operate PV plants for a duration of 20 years or longer. Initially a portfolio will be built from operating assets under Feed In Tariff regime, but the company intends to become a significant player in the Grid Parity market. In this context EAM is now in the process of establishing industrial partnerships with leading EPCs.

EAM make PV plants an investable asset class for institutional investors by providing a listed and tradable instrument, considering also to introduce rated instruments and bonds. Once new projects are identified and project rights secured, EAM plans to issue new share offerings on a regular basis to its shareholders.

For further information, please contact:

Oystein Kvarme, Partner EAM Solar Park Management, phone +47 918 45 435

email ok@eamsolar.no

www.eamsolar.no

About EAM Solar:

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns two solar power plants - Varmo and Codroipo in Italy - which were acquired during the winter 2011/12. The two plants hold an aggregate production capacity of 4.65 MW, and are operating under long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close.

25.03.2013 EAM - Stabilisation and over-allotment option notice

Reference is made to stock exchange notice of 20 March 2013, in which EAM Solar ("EAM Solar" or the "Company", OSE ticker: EAM) announced the successful completion of the bookbuilding period for its initial public offering on Oslo Axess (the "Offering").

Carnegie AS (the "Stabilisation Manager"), on behalf of the Joint Bookrunners, may engage in stabilisation activities in the shares of EAM Solar from the opening of trading on Oslo Axess on 26 March 2013 until the close of trading on 25 April 2013 (the "Stabilisation Period"). The stabilization transactions are aimed to support the market price of the shares of EAM Solar.

In connection with the Offering, the Stabilisation Manager has borrowed shares from Sundt AS and over-allotted to the applicants in the Offering 112,000 shares in EAM Solar, equalling 10% of the total number of Offer Shares allotted in the Offering before over-allotments. Furthermore, the Company has granted the Stabilisation Manager an over-allotment option (the "Over-Allotment Option") pursuant to which the Stabilisation Manager may subscribe for up to 112,000 new shares in EAM Solar at a price per share of NOK 100.00, which is equal to the offer price in the Offering (the "Offer Price"). The Over-Allotment Option may be exercised at any time, and from time to time, within the Stabilisation Period.

The Stabilisation Manager may close out the short position created by over-allotting shares by buying shares in the open market through stabilisation activities and/or by exercising the Over-Allotment Option. The Stabilisation Manager (or persons acting on behalf of the Stabilisation Manager) may effect transactions that stabilise or maintain the price of the shares of EAM Solar at a level higher than that which might otherwise prevail, by buying shares in EAM Solar in the open market at prices equal to or lower than (but not above) the Offer Price. However, there is no obligation on the Stabilisation Manager (or any person acting on behalf of the Stabilisation Manager) to do so. Moreover, there is no assurance that the Stabilisation Manager (or persons acting on behalf of the Stabilisation Manager) will undertake stabilisation activities. If stabilisation activities are undertaken they may be stopped at any time, and must be brought to an end upon or before expiry of the Stabilisation Period. Within one week after the end of the Stabilisation Period, the Stabilisation Manager and the Company will jointly publish a statement through the information system of the Oslo Stock Exchange under the Company's ticker with information as to whether or not any stabilisation activities have been undertaken, including the date at which stabilisation started, the date at which stabilisation last occurred, and the price range within which stabilisation was carried out for each of the dates during which stabilisation transactions were carried out.

Any stabilisation activities will be conducted in accordance with section 3-12 of the Norwegian Securities Trading Act and Commission Regulation (EC) No. 2273/2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments.

For further details see the prospectus dated 8 March 2013 issued by EAM Solar in connection with the Offering and the listing of its shares on the Oslo Axess.

***

25 March 2013

Carnegie AS

Important Notice:

This announcement is not and does not form a part of any offer for sale of securities. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").

The distribution of this announcement may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The financial advisors are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

20.03.2013 EAM - Mandatory notification of trade

Reference is made to the stock exchange notice dated 20 March 2013 regarding the completion of the Initial Public Offering of shares in EAM Solar ASA ("EAM Solar") (the "Offering").

Naben AS, a company controlled by Audun W. Iversen, CEO of EAM Solar Park Management AS, has been allocated 10,000 shares in the Offering at the Offer Price of NOK 100.00 per share. As a result of the abovementioned transaction, Naben AS holds 10,000 shares in EAM Solar, equivalent to 0.43 per cent of the outstanding share capital after completion of the Offering. As part of a pre-commitment agreement to subscribe for shares in the Offering, Naben AS has also been allocated 2,000 warrants to subscribe for shares in EAM Solar.

Alden AS, a company associated with Paal E. Johnsen, board member of EAM Solar, has been allocated 40,000 shares in the Offering at the Offer Price of NOK 100.00 per share. As a result of the abovementioned transaction, Alden AS holds 90,000 shares in EAM Solar, equivalent to 3.88 per cent of the outstanding share capital after completion of the Offering. As part of a pre-commitment agreement to subscribe for shares in the Offering, Alden AS has also been allocated 8,000 warrants to subscribe for shares in EAM Solar.

20.03.2013 EAM - Successful completion of Initial Public Offering

Oslo, 20 March 2013

EAM Solar ASA ("EAM Solar" or the "Company") is pleased to announce the successful completion of its initial public offering (the "Offering") with its shares to be listed on Oslo Axess under the trading symbol "EAM". The Offering, which was priced at NOK 100 per Offer Share, includes a total of 1,120,000 Offer Shares. In addition, 112,000 Offer Shares, representing 10% of the Offering (excluding the over-allotment), has been allotted pursuant to an over-allotment facility. The first day of trading in the Company's shares on Oslo Axess will be 26 March 2013, subject to the approval of the Company`s application for listing on Oslo Axess by the board of Oslo Børs ASA on 20 March 2013.

***

The board of directors of EAM Solar has resolved to issue 1,120,000 Offer Shares, each with a par value of NOK 10, in the initial public offering of shares in EAM Solar on Oslo Axess. Furthermore, the Company has granted the Joint Bookrunners an over-allotment option of up to 112,000 Offer Shares, exercisable by Carnegie as stabilisation manager within 30 days from the first day of listing. A separate disclosure will be issued by the stabilisation manager regarding over-allotment and stabilisation activities.

The Offering, which was primarily subscribed by high quality domestic institutional investors, was priced at NOK 100 per Offer Share, resulting in approx. NOK 112 million in gross proceeds to the Company and a market capitalisation of EAM Solar after completion of the Offering assuming full-exercise of the over-allotment option of approx. NOK 250 million. Furthermore, 179,000 warrants have been allocated to a limited number of investors that had pre-committed to subscribe for Offer Shares in the Offering. Following the Offering, the Company will have approx. 230 shareholders.

The net proceeds to the Company resulting from the Offering will be used to finance further acquisitions of solar power plants and to repay a shareholder bridge loan. EAM Solar is currently negotiating possible purchases of new solar power plants in Italy, which may considerably increase the Company's electricity production capacity. New project investments will be funded through a combination of debt financing and new equity.

Subject to the approval of the Company's application for listing on Oslo Axess by the board of Oslo Børs ASA later today it is expected that registration of the Offer Shares in the Norwegian Business Register will take place on Friday 22 March 2013. For investors in the institutional offering, the payment date in respect of allocated Offer Shares is set to Thursday 21 March 2013, while delivery of Offer Shares will occur on or about Monday 25 March 2013. For investors in the retail offering, for which timely payment is received as set out in the prospectus in relation to the Offering (with bank accounts to be debited on or about Thursday 21 March 2013), delivery of allocated shares is expected to take place on or about Monday 25 March 2013.

The first day of trading in the Company's shares is expected to be on Tuesday 26 March 2013.

Arctic Securities ASA and Carnegie AS acted as joint-lead managers and joint bookrunners in connection with the Offering.

For further information, please contact:

Audun W. Iversen, CEO, EAM Solar, phone +47 916 16 250, email audun@eamsolar.no

Viktor E. Jakobsen, Chairman, EAM Solar, phone +47 916 11 009, email viktor@eamsolar.no

About EAM Solar:

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns two solar power plants - Varmo and Codroipo in Italy - which were acquired during the winter 2011/12. The two plants hold an aggregate production capacity of 4.65 MW, and are operating under long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close.

Important Notice:

This announcement is not and does not form a part of any offer for sale of securities. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").

The distribution of this announcement may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The financial advisors are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

11.03.2013 EAM Solar ASA launches Initial Public Offering

Oslo, 11 March 2013

The board of directors of EAM Solar ASA ("EAM Solar" or the "Company") has resolved to offer between 1,000,000 and 2,000,000 new shares (the "Offer Shares") with the aim of raising gross proceeds of between NOK 100 million and 200 million in the Initial Public Offering (the "Offering") to be completed in connection with the listing of the Company's shares on Oslo Axess. Furthermore, the joint bookrunners have been granted an over-allotment option of up to 10-15% of the base deal. The price range has been set at between NOK 100 to NOK 120 per share, implying a market capitalisation of EAM Solar prior to the Offering of between NOK 120 million and NOK 144 million.

***

Reference is made to the stock exchange notice of 21 February 2013 where EAM Solar announced that the Company had sent an application for listing on Oslo Axess.

The board of directors of EAM Solar has resolved to offer between 1,000,000 and 2,000,000 Offer Shares with the aim of raising gross proceeds of between NOK 100 million and NOK 200 million in the Offering to be completed in connection with the listing of the Company's shares on Oslo Axess. Furthermore, Carnegie, acting as stabilisation manager, has been granted an over-allotment option of up to 10-15% of the base deal. The price range has been set at between NOK 100 to NOK 120 per Offer Share, implying a market capitalisation of EAM Solar prior to the Offering of between NOK 120 million and NOK 144 million.

The Offering will comprise:

(i) an institutional offering, in which Offer Shares are offered to institutional investors in Norway and certain other jurisdictions, in reliance on Regulation S under the Securities Act, and to qualified institutional buyers ("QIBs") in the United States in reliance on Rule 144A under the Securities Act, subject to a minimum application of NOK 500,000; and

(ii) a retail offering in which Offer Shares are offered to the public in Norway subject to a lower limit per Application of NOK 10,500 and an upper limit per Application of up to NOK 499,999 for each investor. Each investor subscribing for an amount of NOK 10,500 or more in the retail offering will receive a discount of NOK 1,000 on the aggregate Offer Price for the Offer Shares allocated to such investor

The bookbuilding for the institutional offering and the application period for the retail offering will commence on 11 March 2013 at 09:00 hours (CET) and run until 16:30 hours (CET) on 19 March 2013 for the institutional offering and 14:00 hours (CET) on 19 March 2013 for the retail offering, subject to shortening and extension. The final number of Offer Shares, and the final price per Offer Share, will be determined by the Company after completion of the book building period for the institutional offering.

The outcome of the Offering and conditional allocations are expected to be announced on or about 20 March 2013. Subject to the approval of the Company`s application for listing on Oslo Axess by the board of Oslo Børs ASA on 20 March 2013, it is expected that trading of the shares on Oslo Axess will commence on or around 26 March 2013 under the symbol "EAM".

The net proceeds to the Company resulting from the Offering will be used to finance further acquisitions of solar power plants and to repay a shareholder bridge loan. EAM Solar is currently negotiating possible purchases of new solar power plants in Italy, which may considerably increase the Company's electricity production capacity. New project investments will be funded through a combination of debt financing and new equity. The Company has already received pre-commitments from a limited number of existing shareholders and new investors to subscribe for Offer Shares in the Offering for approximately NOK 90 million.

Arctic Securities ASA and Carnegie AS are acting as joint-lead managers and joint bookrunners in connection with the Offering. For further details on the Offering, please refer to the Prospectus dated 8 March 2013, available at the Company business address and web-site, in addition to the joint-lead managers' offices and web-sites.

For further information, please contact:

Audun W. Iversen, CEO, EAM Solar, phone +47 916 16 250, email audun@eamsolar.no

Viktor E. Jakobsen, Chairman, EAM Solar, phone +47 916 11 009, email viktor@eamsolar.no

About EAM Solar

EAM Solar is a utility company that acquires and operates solar power plants. The Company currently owns two solar power plants - Varmo and Codroipo in Italy - which were acquired during the winter 2011/12. The two plants hold an aggregate production capacity of 4.65 MW, and are operating under long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close.

Important Notice

This announcement is not and does not form a part of any offer for sale of securities. Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

The distribution of this announcement may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The financial advisors are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

08.03.2013 EAM Solar ASA - Approved prospectus

Oslo, Norway, 8 March 2013

The Financial Supervisory Authority of Norway has today approved the prospectus dated 8 March 2013 in connection with the initial public offering and the listing of EAM Solar ASA on Oslo Axess.

The prospectus will be available at www.eamsolar.no, www.arcticsec.no and www.carnegie.no and will also be available free of charge at the business offices of EAM Solar ASA, Arctic Securities ASA and Carnegie AS.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

07.03.2013 EAM Solar ASA: General meeting - Update on IPO process - Management agreement

Oslo, 7 March 2012

Reference is made to the notice of an extraordinary general meeting of EAM Solar ASA ("EAM Solar") distributed on 21 February 2013 and the addendum to the notice distributed on 27 February 2013. The extraordinary general meeting was held today. All proposals were unanimously approved. The minutes of the general meeting are attached hereto.

The general meeting's approval of the proposed IPO marks an important step towards a listing of EAM Solar on Oslo Axess. EAM Solar expects to publish a prospectus and commence the offering period for the IPO shortly.

In consultation with Oslo Børs, EAM Solar has concluded that it is appropriate to provide a description of certain provisions of the management agreement in place in relation to the company.

EAM Solar has entered into a management agreement with EAM Solar Park Management AS ("SPM") who will provide all administrative, technical, and operational services to the company. EAM Solar has no employees. The management agreement contains provisions for the obligations of SPM to execute all necessary business activities.

EAM Solar will cover the costs of activities directly attributable to the operations and maintenance of EAM Solar's solar power plants and the other services as set out in the management agreement. Such costs include salary costs, social benefits, office costs and out-of-pocket expenses. EAM Solar will compensate SPM on all direct operational costs without margin. As required through the management agreement, SPM shall each year, and no later than the 30 November, prepare a cost budget for the following year and present it to the board of EAM Solar for approval.

In addition, SPM is entitled to a royalty of 12.5% of the pre-tax profits of EAM Solar. The annual pre-tax profit that shall form basis for calculating the royalty is defined as net result for the fiscal year after operational costs, depreciation and amortization and net financial items. As further described in an annex to the management agreement, certain adjustments shall be made to the pre-tax profit in order to reflect; (i) non-cash accounting items (e.g. asset write downs and revaluation); and (ii) acquisition and transaction costs which otherwise would have been expensed in the year the costs have been incurred (such costs shall be capitalized and depreciated during the assets operating lifetime). The royalty shall be based on the audited annual accounts, and is paid out quarterly on the basis of quarterly accounts. The royalty structure aligns the interests of SPM with the interests of the shareholders in EAM Solar.

The board of directors of EAM Solar has the right under the management to at all times be allowed full access to the accounts and records of SPM which are related to the services provided in accordance with the management agreement.

The management agreement is entered into for an initial term of 10 years. After the initial term, both parties can terminate the management agreement by giving 12 months' notice, at the earliest with effect from 2021. Termination triggers a termination fee of 5 times the average royalty for the preceding two fiscal years.

In the instance whereby a single investor or group of investors (as defined by the Norwegian Securities Trading Act section 2-5) have acquired or control at least 90% of the shares in EAM Solar (e.g. corporate take-over), the management agreement may be terminated by SPM on 12 months' notice. Such termination will trigger the termination fee.

The management agreement will be included in full as an appendix to EAM Solar's listing prospectus.

For further information please contact:

Audun W. Iversen, CEO, EAM Solar, phone +47 916 16 250, email: audun@eamsolar.no

Viktor E. Jakobsen, Chairman, EAM Solar, phone +47 916 11 009, email: viktor@eamsolar.no

Important Notice

The distribution of this announcement may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States.

This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States.

This announcement is not and does not form a part of any offer for sale of securities. Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The financial advisors are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

pdf Minutes from EGM in EAM Solar ASA 7 March 2013

27.02.2013 EAM Solar ASA: Addendum to notice of an extraordinary general meeting

The board of directors of EAM Solar ASA (the "Company") has resolved to propose that the following additional matter be placed on the agenda of the extraordinary general meeting to be held at 15:00 CET on 7th of March 2013 at the Company's offices at Dronningen 1, Oslo.

3b. Proposal for an authority to increase the Company's share capital in connection with greenshoe option

The board of directors believes that it is important for the success of the proposed initial public offering that the Company has the ability to over-allot shares in the offering, so as to give the managers the ability to undertake stabilisation activities for a period of 30 days after the offering. This will require the Company to grant the managers an option to subscribe for a number of new shares equal to up to the number of shares, if any, which are over-allotted in the offering.Since the board of directors currently does not hold any authority to increase the Company's share capital it is proposed that an authority is granted for this purpose. The proposed authority may not be used for any other purpose. Any overallotment will be limited to a maximum of 15% of the primary shares issued in the offering.

The board of directors proposes that the general meeting pass the following resolution:

(i) The board of directors is authorized pursuant to the Public Limited Companies Act § 10-14 (1) to increase the Company's share capital by up to NOK 3,750,000.

(ii) The authority may only be used for the purpose of issuing new shares upon an exercise of the greenshoe option to be granted to the managers of the Company's initial public offering.

(iii) The authority shall be valid until 31 May 2013.

(iv) The pre-emptive rights of the shareholders under § 10-4 of the Public Limited Companies Act may be set aside.

EAM Solar ASA

27th February 2013

Viktor E. Jakobsen

Chairman of the board of director

pdf Addendum – notice of EGM 7 March 2013

21.02.2013 EAM Solar ASA applies for listing on Oslo Axess

Oslo, 21 February 2013

EAM Solar ASA ("EAM Solar" or the "Company") announces today that the Company filed an application with the Oslo Stock Exchange for listing of its shares for trading on Oslo Axess. The application for listing is expected to be considered at the Oslo Stock Exchange board meeting to be held on or about 20 March 2013.

EAM Solar is a utility company that acquires and operates solar power plants. The first two plants - Varmo and Codroipo in Italy - were acquired during the winter 2011/12. The two plants hold an aggregate production capacity of 4.65 MW, and are operating under long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires power plants that are commissioned, connected to the grid and in power production at the time of financial close.

The contemplated initial public offering ("IPO") and listing on Oslo Axess is a key step forward for EAM Solar, making the stable, high returns of solar power production available for a broader spectrum of investors and providing the Company with the capital access required to continue growing the Company.

EAM Solar is currently negotiating possible purchases of new solar power plants in Italy, which may considerably increase the Company's electricity production capacity. New project investments will be funded through a combination of debt financing and new equity and in order to equity finance such growth, EAM Solar intends to carry out a new share issue of approximately NOK 100-200 million in connection with the listing. The Company has already received pre-commitments from a limited number of existing shareholders and new investors to subscribe for new shares in the IPO for an amount approximately corresponding to the low end of the indicative transaction size range.

The EAM Solar team represents a strong combination of solar PV expertise from manufacturing, power production, industrialization processes, investment banking and asset management focused on creating value through active ownership, entry into credible partnerships, and operational optimization processes.

Arctic Securities ASA and Carnegie AS have been retained as joint lead managers and joint bookrunners. Further information about the listing process and the contemplated IPO will be published at a later stage.

For further information please contact:

Audun W. Iversen, CEO, EAM Solar, phone +47 916 16 250, email audun@eamsolar.no

Viktor E. Jakobsen, Chairman, EAM Solar, phone +47 916 11 009, email viktor@eamsolar.no

Important Notice

The distribution of this announcement may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States.

This announcement is not and does not form a part of any offer for sale of securities. Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The financial advisors are acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

21.02.2012 EAM Solar ASA: Notice of an extraordinary general meeting

Notice is hereby served that an extraordinary general meeting of EAM Solar ASA (the "Company") will be held at 15:00 CET on the 7th of March 2013 at the Company's offices at Dronningen 1, Oslo.

The general meeting will be opened by the chairman of the board of directors, Viktor E. Jakobsen, cfr. section 5-12 of the Norwegian Public Limited Liability Companies.

Agenda:

  1. Election of a chairperson and a person to co-sign the minutes
  2. Approval of the notice and the agenda
  3. Proposal for an increase of the share capital by way of an initial public offering
  4. Proposal for an issue of warrants ("frittstående tegningsretter") in connection with precommitments to subscribe in the capital increase
  5. Amendments to the articles of association
  6. Election of new chairman of the board of directors
  7. Election of nomination committee
  8. Approval of the guidelines for the nomination committee

Proposals for resolutions under items 3, 4, 5, 6 and 8 are set out in appendix 1.

Shareholders may appoint a proxy to attend and vote on their behalf. In this case a written and dated proxy must be provided. The enclosed proxy form (Appendix 3) may be used.

In accordance with section 6 of the Company's articles of association, the appendices to the notice will not be sent by post to the shareholders. A shareholder may nonetheless demand to be sent the appendices by post free of charge. If a shareholder wishes to have the documents sent to him, such request can be addressed to the Company by email to roar.alme@eamsolar.no.

EAM Solar ASA

21st February 2013

Viktor E. Jakobsen

Chairman of the board of directors

Appendices:

  1. Proposed resolutions
  2. Proxy form
  3. Draft guidelines for the nomination committee

Appendix 1

Item 3 - Proposal for an increase of the share capital by way of an initial public offering

The board of directors proposes that the Company carries out an initial public offering of its shares with gross proceeds in an indicative size range of NOK 100 - 200 million in connection with a proposed listing on Oslo Axess. The Company has secured pre-commitments for subscription in an amount of NOK 89,5 million.

Since one of the objectives of the offering is to satisfy listing requirements related to free float and number of shareholders it is proposed to set aside the pre-emptive rights of existing shareholders.

The board of directors proposes that the general meeting passes the following resolution:

(i) "The share capital of the Company shall be increased by a minimum of NOK 10,000,000 and a maximum of NOK 25,000,000 through the issuance of a minimum of 1 million and a maximum of 2.5 million new shares, each with a nominal value of NOK 10. The board of directors is authorized to determine the size of the share capital increase within this range.

(ii) The new shares shall be issued at a subscription price of a minimum NOK 100 and a maximum of NOK 120 per share, provided, however, that the subscription price may be set to a minimum of NOK 90 per share for any shares issued with a rebate in the retail tranche of the offering, cfr below. The final subscription price will be determined by the board of directors within this range. The board of directors may decide that shares to be issued in the retail tranche of the offering shall be given a rebate of 10% for subscriptions of up to an amount to be set by the board of directors.

(iii) The new shares shall be offered to the public in Norway and to selected investors internationally. The pre-emptive rights of the existing shareholders under § 10-4 of the Public Limited Companies Act are set aside. Allocation of the shares shall be made by the Company's board of directors after the end of the subscription period.

(iv) The subscription period is from the 11th of March 2013 to the 19th of March 2013. If the prospectus for the offering has not been approved by the Norwegian Financial Supervisory Authority and made public by the Company no later than the last business day before the start of the subscription period, the subscription period shall be postponed correspondingly. The board of directors is authorized to extend the subscription period until no later than the 30th of April 2013. The new shares shall be subscribed for on a separate subscription form.

(v) Payment of the subscription amount shall be made no later than 21th of March 2013 to a special share issue account. If the subscription period is postponed and/or extended the payment date will be postponed correspondingly. The prospectus for the offering may provide that subscribers in some or all tranches of the offering shall be required to give the managers of the offering a one-time authority to debit a stated bank account for an amount equal to the number of shares subscribed for multiplied by the subscription price. 

(vi) The new shares shall carry rights to dividends from the date on which the capital increase is registered with the Register of Business Enterprises.

(vii) Section 4 of the articles of association shall be amended so as to reflect the share capital and the number of shares after the share capital increase.

(viii) The implementation of the share capital increase is conditional upon the approval of the Company's application for a listing of its shares on Oslo Axess."

Item 4 - Proposal for an issue of warrants ("frittstående tegningsretter") in connection with pre-commitments to subscribe in the capital increase

The Company has entered into a pre-commitment agreement with certain persons having pre-committed to subscribe shares under the abovementioned share capital increase (the "Capital Increase"). In consideration of their pre-commitments these investors are entitled to receive one warrant for every five pre-committed shares.

The pre-commitment agreement is conditional on the general meeting resolving to issue warrants ("frittstående tegningsretter") to the persons having pre-committed on the conditions as set out below.

The board of directors considers such warrants to be a sensible instrument in order to secure the precommitment and hence to be in the interest of the Company. The board of directors thus proposes that the general meeting pass the following resolution:

(i) "In accordance with Section 11-12 of the Companies Act, a minimum of 115,000 and a maximum of 180,000 warrants (Norwegian: Frittstående tegningsretter) shall be issued (each a "Warrant).

(ii) The Warrants may be subscribed by the persons having pre-committed to subscribe for shares in the Capital Increase, such that each person having pre-committed shall be entitled to one Warrant for every five shares such subscriber has pre-committed to subscribe for in the Capital Increase. Allocation of the Warrants shall be made by the Company's board of directors. The pre-emptive rights of the existing shareholders under § 10-4 of the Public Limited Companies Act are set aside.

(iii) The subscription period for the Warrants is from 11th of March 2013 to the 19th of March 2013. If the prospectus for the offering has not been approved by the Norwegian Financial Supervisory Authority and made public by the Company no later than the last business day before the start of the subscription period, the subscription period shall be postponed correspondingly. The board of directors is authorized to extend the subscription period until no later than the 30th of April 2013. The Warrants shall be subscribed for on a separate subscription form.

(iv) No consideration shall be payable for the issuance of the Warrants.

(v) Each subscriber's right to receive Warrants shall be conditional upon the Capital Increase being completed and upon the subscription price for the shares in the Capital Increase not being higher than any maximum subscription price set by the subscriber in its pre-commitment undertaking.

(vi) Each Warrant shall carry the right to subscribe for one ordinary share in the Company. The exercise price for the warrants shall be equal to the subscription price for the shares issued in the Capital Increase.
(vii) The warrants may be exercised at any time during a period of two years from the first day of listing of the Company's shares on Oslo Axess, but in no event later than 30 June 2015.
(viii) Where a notification of exercise is not filed within the period set forth in Section (vi), any and all rights pursuant to the Warrants shall expire.
(ix) Following exercise, payment for the new shares shall be made immediately in cash. Payment shall be made to an account designated by the Company.
(x) Shares which are issued upon exercise of the Warrants shall entitle the holders to participate in any payments of dividends payable the shareholders of the Company as of a date falling after the date of the registration of the relevant share capital increase with the Register of Business Enterprises.
(xi) Upon any distribution being made from the Company to its shareholders, the exercise price for the Warrants shall be reduced by an amount equal to the amount distributed per ordinary share of the Company.
(xii) In the event of any increase of the Company's share capital, any split or consolidation of the Company's shares, any issuance of independent subscription rights or convertible bonds or any merger or de-merger of the Company, the Warrants shall be adjusted in accordance with customary adjustment principle as determined by the board of directors of the Company. The Warrants shall not carry any special rights in the event of a liquidation or transformation of the Company.

Item 5 - Amendments to the Articles of Association

The annual general meeting on 14 May 2012 approved certain amendments of the articles of association in connection with the listing process at that time. Since the listing process was aborted, these amendments have not been implemented. Therefore, the board of directors proposes that the general meeting approves certain amendments to the articles of association.

The board of directors proposes that § 5 of the articles of association should be changed from:

In Norwegian:

"Selskapets styre består av tre til fem medlemmer. To medlemmer utpekes av EAM Solar Park Management AS. Styret velger selv sin leder. Signaturrett ligger hos to styremedlemmer i fellesskap."

In English:

"The company's board's consists of three to five members. Two members are appointed by EAM Solar Park Management AS. The board elects its chairman".

To:

In Norwegian:

"Selskapets styre består av tre til syv medlemmer. Generalforsamlingen velger styrets leder. Signatur ligger hos to styremedlemmer i fellesskap eller ett styremedlem og daglig leder i fellesskap.

Det samlede styret skal kunne fungere som selskapets revisjonsutvalg dersom styret oppfyller kravene til revisjonsutvalg i gjeldende lovgivning og børsregler."

In English:

"The company's board's consists of three to seven members. The chairman of the board of directors is elected by the general meeting. The right of signature lies with two board members jointly or with one director and the chief executive officer jointly

The full board may serve as the company's audit company for as long as the board satisfies the requirements relating to audit committees under applicable laws and stock exchange rules".

In light of the proposed listing on Oslo Axess and in accordance with the recommendations of the Norwegian Code of Corporate Governance, the board of directors proposes that the Company establishes a nomination committee.

To implement this change, the board of directors proposes that the following shall be added as a new § 10 of the Company's articles of association.

In Norwegian:

"§ 10

Selskapet skal ha en valgkomité bestående av tre medlemmer. Valgkomiteens medlemmer skal være aksjeeiere eller representanter for aksjeeiere. Valgkomiteens medlemmer, herunder dens leder, velges av generalforsamlingen.

Tjenestetiden for valgkomitéens medlemmer skal være to år med mindre generalforsamlingen beslutter noe annet. Tjenestetiden regnes fra valget når noe annet ikke er bestemt. Den opphører ved avslutningen av den ordinære generalforsamling i det året tjenestetiden utløper. Selv om tjenestetiden er utløpt, skal medlemmet bli stående i vervet inntil nytt medlem er valgt.

Honorar for valgkomiteens medlemmer skal fastsettes av generalforsamlingen.

Valgkomiteen skal ha følgende oppgaver:

(i) å avgi innstilling til generalforsamlingen om valg av aksjonærvalgte styremedlemmer, dog slik at EAM Solar Park Management AS skal ha rett til å avgi innstilling om valg av to aksjonærvalgte styremedlemmer;

(ii) å avgi innstilling til generalforsamlingen om honorar for styrets medlemmer;

(iii) å avgi innstilling til generalforsamlingen om valg av medlemmer av valgkomiteen;

og

(iv) å avgi innstilling til generalforsamlingen om honorar for valgkomitéens medlemmer. Generalforsamlingen kan fastsette nærmere retningslinjer for valgkomitéens arbeid."

In English:

§ 10

The company shall have a nomination committee consisting of three members.

The members of the nomination committee shall be shareholders or representatives of shareholders.

The members of the nomination committee, including its chairman, are elected by the general meeting. The members of the nomination committee's period of service shall be two years unless the general meeting decides otherwise. The period of service commences from the time of being elected unless otherwise decided. It terminates at the end of the annual general meeting of the year in which the period of service expires. Even if the period of service has expired, the member must remain in his or her position until a new member has been elected.

The remuneration to the members of the nomination committee shall be determined by the general meeting.

The nomination committee shall have the following responsibilities:

(i) To give the general meeting its recommendations regarding the election of board members to be elected by the shareholders, provided however that EAM Solar Park management AS shall have the right to give its recommendation for two of the board

members

(ii) To give the general meeting its recommendations regarding the remuneration to the board members

(iii) To give the general meeting its recommendations regarding the election of members of the nomination committee; and

(iv) To give the general meeting its recommendations regarding the remuneration to the members of the nomination committee.

The general meeting may issue further guidelines for the nomination committee's work.

The distribution of dividends is a key component of the investment case which the Company is offering to its shareholders. Therefore, the board of directors believes that the articles of association should include a requirement that all distributable profits are paid as dividends to the shareholders.

To implement this change, the board of directors proposes that the following shall be added as a new § 11 of the Company's articles of association.

In Norwegian:

"§ 11

I den utstrekning det er tillatt etter gjeldende lovgivning skal selskapet utbetale hele årsoverskuddet som utbytte til aksjeeierne. Endring i, eller unntak fra, denne bestemmelsen krever tilslutning fra minst ni tideler så vel av de avgitte stemmer som av den aksjekapital som er representert på generalforsamlingen"

In English:

"§ 11

To the extent permitted by applicable law the company shall distribute its entire annual surplus as a dividend to its shareholders. Changes to or exemptions from this article requires the support of at least nine tenths of the votes cast and of the share capital represented at the general meeting"

Item 6 - Election of chairman of the board of directors

It is proposed that Paal E. Johnsen is elected as chairman of the board of directors. Ingelise Arntsen and Viktor E. Jakobsen will continue as board members.

Item 7 - Election of nomination committee

Candidates for the nomination committee will be presented at the general meeting.

Item 8 - Approval of the guidelines for the nomination committee

In accordance with the recommendations of the Norwegian Code of Corporate Governance, the board of directors proposes that the general meeting adopts guidelines for the nomination committee. Draft guidelines are enclosed with the notice.

The board of directors proposes that the general meeting pass the following resolution:

"The general meeting approves the draft guidelines for the nomination committee".

pdf EAM Solar ASA – Notice of extraordinary general meeting 7 March 2013

pdf PROXY FORM – Extraordinary general meeting 7 March 201