MILAN--(BUSINESS WIRE)--Regulatory News:
Electro Power Systems S.A. (“EPS”) (Paris:EPS), technology pioneer in energy storage systems and microgrids, listed on the French-regulated market Euronext Paris (EPS:FP) announces that it has successfully completed the capital increase reserved to EPS’ and Elvi Elettrotecnica Vitali S.p.A.’s management.
The capital increase is of a total of € 1,408,063.80 (€ 39,386.40 of nominal value and € 1,368,677.40 of issuance premium), and entails the issuance of n. 196,932 new shares, at a price of €7.15, i.e. € 0.20 of nominal amount and €6.95 of issue premium.
Following this transaction, 20% of the share capital of EPS, composed by no. 603,918 shares for an amount of euro €4.4 million and no. 1,314,938 among stock options and warrants, are currently held by the Group’s management.
The transaction has been effected in the context of the acquisition of the energy division of Elvi Elettrotecnica Vitali S.p.A. as set out under paragraph 7.2.4 of the updated information document (Document de Référence) registered with the Autorité des Marchés Financiers (AMF) on 27 July 2017.
Further details relating to the transaction and the list of subscribers are set out in the updated information document (Document de Référence) available on www.electropowersystems.com section Regulated Information – Registration Document.
Electro Power Systems S.A.
EPS operates in the sustainable energy sector, specializing in storage solutions and micro-grids that enable intermittent renewable sources to be transformed into a stable power source.
Listed on the French-regulated market Euronext (EPS:FP), EPS is part of the CAC® Mid & Small and the CAC® All-Tradable indices and has registered office in Paris and research, development and manufacturing in Italy.
Thanks to technology covered by 125 patents and applications, combined with more than 10 years of R&D, the Group has developed energy storage systems to stabilize electrical grids heavily penetrated by renewable sources in developed countries and, in emerging economies, to power off-grid areas at a lower cost than fossil fuels without the need for any subsidy or incentive scheme.
EPS has installed and has under commissioning in aggregate 36 large scale projects, including off-grid hybrid systems powered by renewables and energy storage totalizing over 36 MW of installed power that provides energy to over 165,000 customers every day, in addition to more than 19 MW of grid support systems, for a total capacity output of 47 MWh of systems in 21 countries worldwide, including Europe, Latin America, Asia and Africa.
For more information, visit www.electropowersystems.com.