EAM Solar ASA :Conservative seizure of assets granted to EAM

8 June 2017



In a ruling dated 31 May 2017, notified on 7 June 2017, the Court of Milan has
ordered the conservative seizure (pursuant to article 316 of the Italian
Criminal Procedure Code), in favour of EAM Solar ASA and EAM Solar Italy Holding
S.r.l., on all assets connected to Marco Giorgi and Igor Akhmerov, up to the
total amount of Euro 33.062.632,62.


The Court's decision was made in order to secure a possible compensation of part
of the cash outlay made by of EAM companies in July 2014 in conjunction with the
P31 fraud.


The amount identified by the court in this conservative seizure ruling is not to
be interpreted as a limitation to the final damages claims that may be awarded
EAM Solar ASA in the criminal proceedings in Milan.


The Court's decision was founded on the argument that with respect to the
accused Giorgi and Akhmerov, there is good reason to believe that the guarantees
for the payment of the civil obligations deriving from the crime of contractual
fraud is lacking or will be dispersed.


Although requested by EAM, the Court did not grant conservative seizure against
the parties with civil liabilities Aveleos SA, Avelar Energy Ltd and Enovos
Luxembourg SA. The Court's argument for not granting the conservative seizure of
assets was founded on the fact that;


"there is no doubt that such companies are entities of relevant economic
capability. [.] Thus, it is not proven, with respect to these companies, that
the guarantees for payment compensation claim to EAM companies' would be
lacking" (Ruling from the Court of Milan dated 31 May 2017, page 6).


The ruling can be appealed, pursuant to articles 318 and 324 of the Italian
Criminal Procedure Code, within ten days from the date of the seizure's
execution.


EAM will initiate the necessary measures to secure assets in accordance with the
Court's ruling.





For information, please contact:



Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no



About EAM Solar: EAM Solar is a utility company that acquires and operates solar
power plants. The Company currently owns solar PV power plants in Italy. The
plants are operating under long-term sales contracts.



This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.