Renewables, Initiatives from Brescia towards listing on the Stock Exchange

Iniziative Bresciane based in Breno (Brescia), active in the renewable energy sector since 1996 with a specific focus on medium and small-sized hydroelectric plants, proceeded on 27 June 2014 with the pre-admission communication for listing on the AIM market of Italian Stock Exchange.

Iniziative Bresciane – IN.BRE – SpA (“In.Bre.”), based in Breno (Brescia), active in the renewable energy sector since 1996 with a specific focus on small and medium-sized hydroelectric plants (< 3MW), has proceeded on 27 June 2014 with the communication of pre-admission for listing on the AIM Italia market – Alternative Capital Market, organized and managed by Borsa Italiana SpA, LSE Group (“AIM Italia”). As part of the process of admission of the shares of In.Bre. on AIM Italia it is envisaged that the company will carry out an operation solely for a capital increase to be offered for subscription, through a placement reserved for qualified investors in Italy and institutional investors abroad. The partners of In.Bre. these are the companies Finanziaria di Valle Camonica SpA with 80% of the share capital and Istituto Atesino di Sviluppo with 20% of the share capital. The listing project was shared on 27 June 2014 with the shareholders of Finanziaria di Valle Camonica SpA, gathered in the Shareholders' Meeting. In.Bre. it has 16 plants in operation for a total of 21,9 MW installed and 93,3 GWh produced in 2013. A further 9 plants have been authorized and are under construction, while the authorization procedures relating to a further 39 plants are underway. In 2013, the Company recorded revenues of Euro 15,4 million and an Ebitda of Euro 11,9 million, with an Ebitda margin of 77%. Thanks to the listing, the Company, which operates in a profitable niche in an expanding market context, aims to acquire financial support for the construction of the plants for which the relative concessions have been obtained, to accelerate business growth and to seize further opportunities investment through selected acquisition transactions. EQUITA SIM is the Nominated Adviser, Global Coordinator and Specialist of the operation, Pedersoli e Associati is the legal advisor, Studium 1912 is the legal and tax advisor, T2 Advisory and BANOR SIM are the financial advisors. EY is the accounting firm.