Amaro (Italy) – May 20th, 2011
– Eurotech, a leading supplier of embedded technologies, announces that as of today it owns 100% of the share capital of the Japanese subsidiary Advanet. Eurotech added to the 90% previously held the remaining 10% of the share capital, that has been sold by the Japanese partner to Advanet for an amount of JPY 257,375,000 (equal to about Euro 2.2 million) settled in cash. With this operation the Group shareholders’ equity rises of Euro 3.6 million, an amount that up to today had been reported in the financial statements as “Equity attributable to minority interests”.
Pursuant to Article1542-bis, Paragraph 2, of the Italian Consolidated Finance Act, the Financial Reporting Manager of Eurotech SpA, Sandro Barazza, hereby declares that the financial disclosure contained in this press release corresponds to the Company’s documentary evidence, corporate books, and accounting records.