Annual Report 2018

Kadden
EAM 30.04.2019 kl 11:25 1643

Fra dagens rapport står det mye, men lite nytt.
Sammendraget under Legal proceedings stadfester nok en gang det vi allerede vet.

The Criminal Court of Milan has in 2016 ruled
that Enovos Luxembourg S.A., Avelar Energy
Ltd and Aveleos S.A. are financially liable for
the economic damages suffered by EAM and
related parties due to the criminal actions
conducted by their directors Marco Giorgi
and Igor Akhmerov.
Should the directors be sentenced on the
Milan Prosecutors indictment point “F”, concerning fraud against the Company, Enovos
Luxembourg S.A., Avelar Energy Ltd and Aveleos S.A. will be responsible for paying the
damages incurred by the Company.
To the extent the Company can provide
adequate documentation, there is no limitation to the damages that can be claimed. It is
also the sole decision of the Company how
much damages it will seek from each party,
in other words, the Company may seek the
full compensation from only one party.

Direktørene ble som kjent dømt på Pkt. F 18. April.

The Criminal Court found it evidenced
and consequently decided that Both Mr
Giorgi and Mr Akhmerov are guilty of criminal contractual fraud against EAM Solar ASA
in conjunction with the sale of the so-called
P31 portfolio, i.e. both are found guilty according to the State Prosecutors Office of
Milano’s Indictment point F

Det vil nok fortsatt ta en stund før EAM får tilbake pengene sine, så fremt søksmål ikke går til forlik (noe det kan gjøre), men at EAM er et langt bedre case nå enn for noen måneder siden er det ingen tvil om. Blir spennende å få høre strategien videre 2. mai.

Pactums salgsmur betyr ikke at nyhetene ikke er superbull.
Redigert 20.01.2021 kl 20:28 Du må logge inn for å svare
tuja
30.04.2019 kl 11:42 1609

Veldig bra, Kadden.

Jetg har økt beholdningen både etter voldgift og kriminaldom. Dagens kurs er latterlig lav iht kriminaldommen.

Dette sier det meste, da både Giorgi og Akhmerov ble dømt skyldig i svindel:

"Should the directors be sentenced on the
Milan Prosecutors indictment point “F”, concerning fraud against the Company, Enovos
Luxembourg S.A., Avelar Energy Ltd and Aveleos S.A. will be responsible for paying the
damages incurred by the Company."
Redigert 20.01.2021 kl 20:28 Du må logge inn for å svare
dkinvestor
30.04.2019 kl 16:16 1392

Også interessant at læse Encevo Annual Report 2017 (2018 n.a.). Hvor de omkring forretningsrisici skriver (fuld tekst nedenfor) :
at de for nærværende IKKE er " taking additional provisions in the group’s consolidated accounts". Mon ikke revisorerne snart vil påpege, at det med udgangspunkt i seneste dom, bliver nødvendigt at hensætte midler i regnskabet fremad (måske 2018). Siden 2017 regnskabet har dokument dato Juli 2018 kan reaktion på nyeste dom blive indeholdt i 2018 regnskab, når det kommer. (Audit report fra PWC til 2017 regnskab var 27-4-2018)

"In regards to the status of the Italian photovoltaic assets, it should be noted that GSE (the authority that has
granted the feed-in-tariffs to the various Italian subsidiaries of Enovos Luxembourg S.A.) has continued its
investigations during the course of 2017 and has kept contact with Encevo S.A. and Enovos Luxembourg S.A.
that continued to accommodate the requests for information. In addition, EAM Solar ASA from Norway and
EAM Solar Italy Holding S.R.L. had filed a criminal complaint in Luxembourg against Enovos Luxembourg
S.A., Encevo S.A. and four of its employees for alleged damages regarding the purchase of Italian assets
from Aveleos S.A., a subsidiary of Enovos Luxembourg S.A. Encevo S.A. took meanwhile legal counter-action
against EAM and the Court suspended its decision on the slanderous denunciation claim until the end of
investigations. On the substance, no further material events occurred in 2017 which could justify a change
in the appreciation of the facts at stake and thus the taking of additional provisions in the group’s
consolidated accounts
Tillader mig lige at slutte af med shareholders :
28.00% Luxembourg State
15.61% City of Luxembourg
12.00% Banque et Caisse d’Epargne de l’Etat
4.71% Post Luxembourg
25.48% ARDIAN
Bemærk i øvrigt det kraftige sprogbrug "on the slanderous denunciation claim " falske/misvisende krav. Noget siger mig man har haft behov for at lægge kraftig afstand til denne skandale, hvis jeg nu må tillade mig lidt kraftigt sprogbrug. Spændende hvilken udlægning vi nu kommer til at se, eller om man blot vælger strudsetaktikken og stikker hovedet i sandet indtil videre.
Redigert 20.01.2021 kl 20:28 Du må logge inn for å svare
tuja
30.04.2019 kl 16:41 1331

Ja, det bør vel komme en litt annen nyanse på teksten, da EAM nå har fått medhold i kriminalsaken, og at de er utsatt for svindel.
Tenker det blir en rimelig stor forandring i teksten:

"Encevo S.A. took meanwhile legal counter-action
against EAM and the Court suspended its decision on the slanderous denunciation claim until the end of
investigations."

:)
Redigert 20.01.2021 kl 20:28 Du må logge inn for å svare
Flaxx
30.04.2019 kl 18:35 1213

Encevo i årsberetningen for 2017 ... utgitt i april 2018:
... "On the substance, no further material events occurred in 2017 which could justify a change
in the appreciation of the facts at stake and thus the taking of additional provisions in the group’s
consolidated accounts.."
MEN ... NÅ derimot ... nå er der "material events" ... ref den nylige Milan-dommen.
Encevo har ennå ikke utgitt sin årsberetning for 2018.
Det er tydelig at man har noe å stri med ...
Redigert 20.01.2021 kl 20:28 Du må logge inn for å svare