(Alliance News) - Renergetica Spa on Thursday let it be known that all members of the company's board of directors and board of statutory auditors have resigned irrevocably, effective as of the date on which the shareholders' meeting will be held to provide for their replacement.

The resignations were tendered in light of the fact that on August 4, Exacto Spa, on the one hand, and CVA Eos Srl, on the other, signed a contract for the sale by Exacto in favor of CVA Eos of a stake representing 60% of Renergetica's share capital and in view of the prospective change in Renergetica's shareholding structure that would occur in the event of the execution of the aforementioned acquisition transaction.

Renergetica recalled that upon completion of the transaction, CVA EOS will be required to launch a mandatory total takeover bid for the remaining ordinary shares of the company, excluding the additional shares held by Exacto.

"The resignations of all members of the corporate bodies were submitted in view of the prospective entry of CVA Eos, as the new reference shareholder of Renergetica. On my own behalf and on behalf of Exacto, I would like to express my sincere thanks to the resigning directors and auditors for their professionalism and for their active activity always provided in the interest of the company. As Exacto we will remain shareholders of Renergetica alongside CVA Eos with a 21.77 percent stake to ensure continuity in management and confirm our confidence on the company's future prospects," commented Stefano Giusto, president and CEO of Renergetica and chairman of the current controlling shareholder Exacto.

Renergetica on Thursday closed in the green by 0.5 percent at EUR9.55 per share.

By Claudia Cavaliere, Alliance News reporter

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