Company Announcement No. 15/2017
Copenhagen, 16 November 2017
Greentech Energy Systems A/S (Greentech) today calls an Extraordinary General Meeting with a view to approve a change of the company name to Athena Investments A/S and an expansion of the company objects.
Existing activities and new opportunities The renewable energy sector is undergoing a significant consolidation trend led by major players, utilities and large infrastructure funds. As a small-sized independent renewable power producer, Greentech delivers stable production and fair financial performance, but no longer considers a limited focus on operating assets in the renewable energy industry a suitable way to ensure continuous growth in revenues and returns to its shareholders. Consequently, in addition to the current renewable energy business, Greentech wants to prepare for an expansion of its business platform with potential complementary or independent activities. By broadening its scope of business to comprise investments in industrial, commercial, technical, research and development, services and/or financial activities, the Company aims to maximize the potential value creation in the interest of the shareholders.
New name and wider perspectives The current megatrends such as technology, globalization and demographics, are reshaping several markets and industries, bringing new opportunities but also new challenges. A broader business platform will grant the Company a higher degree of flexibility and agility to adapt to current and new business trends. Hence, Greentech will have the opportunity to benefit from a larger variety of opportunities in order to preserve its stable-growth/long-term risk profile. Greentech’s Chairman Peter Høstgaard-Jensen comments: “By expanding the future business platform, Greentech believes to gain in adaptiveness towards changing market conditions and trends and “due care” towards the shareholders in order to increase value creation and future returns.”
The new name, Athena Investments A/S, refers to the goddess Athena who in the Greek mythology was the goddess of wisdom and strategy in many fields therefore a clear symbol of versatility and knowledge which inspired the image of our intended future diversification of activities.
Extraordinary General Meeting The company name change and amendment of the company objects will necessitate an amendment of the Company’s Articles of Association. An Extraordinary General Meeting will be held on 12 December 2017 to formally vote on these proposals. The notice convening the Extraordinary General Meeting is enclosed.
As a consequence of the name change, Greentech Energy Systems A/s will change its stock exchange ticker to “ATHENA”. The change in ticker will become effective after wards, assuming a positive outcome at the general meeting.
The information in this announcement does not change Greentech’s previous financial guidance for the financial year 2017, nor its dividend policy.
The Board of Directors
Contact: Peter Høstgaard-Jensen, Chairman of the Board of Directors, Tel: +45 40 10 88 71 Alessandro Reitelli, CEO, Tel: +39 06 487 93 200
