On 3 February 2026 EAM Italy Holding received notice that Aveleos had filed for
a seizure over the shares of its subsidiary ENS 1, citing the second arbitration
decision which awarded Aveleos EUR 771k in unpaid shareholder loans.
However, the second arbitration decision also awarded EAM EUR 2.29m in damages.
After interests, this results in a net amount in favor of EAM of between EUR
3.9m and EUR 4.8m today.
On this basis, EAM has filed to challenge this new request from Aveleos.
A hearing has now been set for 18 March 2026 to determine whether this process
should be dismissed, paused, or should proceed. In the event it should proceed,
a separate hearing will take place on 21 May 2026 in order to assess the value
of the shares of ENS 1.
Irrespective of the above, should the Court of Appeal uphold the second
arbitration award of 2024, EAM will be entitled to remove the pledge over ENS 1
shares altogether. The final hearing in this appeal is scheduled for 11 March
2026. A decision is expected in May or June 2026.
More information will be provided in the shareholder information meeting
scheduled for 17:00 on Thursday, 12 February 2026.