Herlev, 12 August 2011
Company Announcement No. 30/2011
Release of seized Minerva Messina shares
Greentech Energy Systems A/S has today received notification from Court of Trapani that the 15% of the share capital of Minerva Messina seized by the Italian authorities has been released.
The seizure of the 15% of the share capital of Minerva Messina was made in September 2010 due to the Italian authorities’ investigation of the affairs of the local developer.
Greentech Energy Systems A/S has considered the seizure a clear procedural irregularity and has ever since the seizure been cooperating determinedly and constructively with the Italian authorities to ensure release of the shares.
The seizure of 15% of the shares of Minerva Messina has not affected the operations or the financing of the Minerva Messina project and has had no economic impact.
Peter Høstgaard-Jensen, Chairman of the Board of Directors of Greentech, comments:
“Greentech is very satisfied that the expected conclusion has finally been reached on the seizure of the Minerva Messina shares. The seizure has not had any effect on the Company’s operations, but it has been a disruptive element in the Company’s image and reputation. The release of the shares is additional proof of the strong Italian organisation introduced in Greentech over the past 12 months.”
The Board of Directors
For further information, please contact:
Sigieri Diaz della Vittoria Pallavicini, CEO, tel: +45 33 36 42 02
Peter Høstgaard-Jensen, Chairman, tel: +45 40 10 88 71