8 August 2023 On6 October 2021 , theSupreme Court of Italy decided to annul the 20th ofJanuary 2021 judgment of acquittal by theMilan Criminal Court of Appeal in the subsidy fraud case against theState of Italy and contractual fraud againstEAM Solar ASA . TheSupreme Court sent the criminal case back to a different chamber of the Milan Appeal Court for a new appeal consideration with the requirement that the new court proceedings must proceed with a complete review of the evidence, making correct application of the principles of law and the rules of logic as formulated in the Supreme Court decision.EAM Solar ASA is informed that the Fifth Section of theCourt of Appeal of Milan has scheduled the appeal hearing in the criminal proceedings for30 November 2023 . A final decision in this criminal appeal proceeding is expected in 2024. EAM is currently also engaged in an arbitration proceeding againstAveleos SA before the Milan Chamber of Arbitration. The final hearing for this arbitration has been scheduled for13 September 2023 . A final decision in this arbitration proceeding is expected in Q4 2023. For further information, please contact: Viktor E Jakobsen, Chair, phone +47 9161 1009, viktor@eam.no AboutEAM Solar ASA :EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants inItaly . The plants are operating under long-term sales contracts. In addition, the Company's business is lawsuits in relation acquisition of solar power plants. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Click here for more information
© Oslo Bors ASA, source