Board Change • Jul 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Pål Hvammen is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. お知らせ • Jul 08
EAM Solar AS has completed a Follow-on Equity Offering in the amount of NOK 55 million. EAM Solar AS has completed a Follow-on Equity Offering in the amount of NOK 55 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 80,000,000
Price\Range: NOK 0.5
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,000,000
Price\Range: NOK 0.5
Transaction Features: Rights Offering お知らせ • May 27
EAM Solar ASA has filed a Follow-on Equity Offering in the amount of NOK 55 million. EAM Solar ASA has filed a Follow-on Equity Offering in the amount of NOK 55 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: NOK 0.5
Transaction Features: Rights Offering Reported Earnings • Jan 31
Full year 2025 earnings released: €0.05 loss per share (vs €0.99 loss in FY 2024) Full year 2025 results: €0.05 loss per share (improved from €0.99 loss in FY 2024). Revenue: €1.22m (down 19% from FY 2024). Net loss: €1.02m (loss narrowed 22% from FY 2024). お知らせ • Dec 15
EAM Solar ASA, Annual General Meeting, Jun 04, 2026 EAM Solar ASA, Annual General Meeting, Jun 04, 2026. お知らせ • Oct 28
EAM Solar ASA has completed a Follow-on Equity Offering in the amount of NOK 20 million. EAM Solar ASA has completed a Follow-on Equity Offering in the amount of NOK 20 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: NOK 1
Transaction Features: Rights Offering お知らせ • Oct 02
EAM Solar ASA, Annual General Meeting, Oct 01, 2025 EAM Solar ASA, Annual General Meeting, Oct 01, 2025, at 10:00 W. Europe Standard Time. Location: karenslystalle 10, 0278oslo., Norway お知らせ • Sep 18
EAM Solar ASA has filed a Follow-on Equity Offering in the amount of NOK 20 million. EAM Solar ASA has filed a Follow-on Equity Offering in the amount of NOK 20 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: NOK 1
Transaction Features: Rights Offering お知らせ • Jun 20
EAM Solar AS Announces Italian Court Rejects All Applications EAM Solar AS announced on 17 June 2025, took place the hearing before the Italian Supreme Court in relation to the appeals against the Appeal Court of Milan's decision of 4 July 2024. EAM has been informed that all appeals have been rejected. Those of the implicated and of EAM. The decision of 4 July 2024 is now final. So far, no grounds for the decision have been made. Such grounds are expected in around 60 days. The Milan criminal proceedings which began with arrests in 2014 have now concluded. Igor Akhmerov has been found liable for the crime contained in charge. Mr. Akhmerov, Marco Giorgi, Aveleos SA and Avelar Management have been held liable for the crime contained incharge. EAM is disappointed in the Supreme Court's decision not to reinstate the 2019 decision. The 2019 decision in EAM's favor, along with the 2021 Supreme Court annulment of the first appeal, has long given the company the justification to believe that it had been a victim of contractual fraud. While EAM still believes such, the company recognizes the judgement of the Italian courts. Notwithstanding the decision of the Supreme Court, EAM has made plans for such an outcome. One thing is clear: the Feed-in tariffs attached to power plants purchased by EAM in 2014 were obtained with fraud. People who sold these assets to EAM have been found liable for the frauds and sentenced to pay the Italian State. The company has been presented with a number of possible legal options which may now begin since the criminal process has concluded. EAM will work with its Italian civil counsels to determine which of, and when, these next processes shall begin. In the meantime, EAM will continue operating its 4 solar power plants with Feed-in Tariffs in Italy and pursuing the amounts awarded in other venues. EAM will revert to the market in the future once it has more information to share. In the meantime, E AM will continue operating its 4 solar Power plants with Feed-in Tariff in Italy and pursuing the amounts award in other venues. EAM is revert to the market in the Future once it has more information to Share. New Risk • Jun 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr45.7m (US$4.58m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 21x increase in shares outstanding). Market cap is less than US$10m (kr45.7m market cap, or US$4.58m). Minor Risk Revenue is less than US$5m (€1.5m revenue, or US$1.8m). Reported Earnings • Jun 05
First quarter 2025 earnings released First quarter 2025 results: Revenue: €232.9k (up 11% from 1Q 2024). Net loss: €347.3k (down 232% from profit in 1Q 2024). Buy Or Sell Opportunity • Apr 30
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at kr0.65. The fair value is estimated to be kr0.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Earnings per share has grown by 48%. Buy Or Sell Opportunity • Mar 31
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at kr0.75. The fair value is estimated to be kr0.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Earnings per share has grown by 48%. Buy Or Sell Opportunity • Mar 07
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at kr0.67. The fair value is estimated to be kr0.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • Mar 02
Full year 2024 earnings released: €0.26 loss per share (vs €0.18 loss in FY 2023) Full year 2024 results: €0.26 loss per share (further deteriorated from €0.18 loss in FY 2023). Revenue: €1.28m (up 29% from FY 2023). Net loss: €1.79m (loss widened 48% from FY 2023). Board Change • Feb 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Pål Hvammen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. お知らせ • Feb 07
EAM Solar ASA Announces CEO Changes EAM Solar ASA announced that following the end of the management agreement between EAM Solar AS and Energeia AS, the Board of directors are establishing an independent internal organization for the EAM Solar group. The management agreement will end, by the latest, in May 2025. The Board has employed Erik Brandon Reisenfeld as new CEO of EAM Solar AS. Erik replaces Christian Hagemann who was appointed by the manager Energeia AS under the management agreement. Erik Reisenfeld is a qualified solicitor in England and Wales. Erik has acted as EAM’s internal legal counsel since September 2017 under the management agreement being an employee in Energeia AS, and has consequently detailed knowledge of all legal processes the company is involved in. Given the importance of the ongoing legal processes for the business of the company, the board of EAM believes Erik Reisenfeld’s knowledge and skillset will serve the company well. お知らせ • Feb 06
EAM Solar ASA Hires Gloria Gallorini as Head of Administration EAM Solar ASA announced that Following the end of the management agreement between EAM Solar AS and Energeia AS, the Board of directors are establishing an independent internal organization for the EAM Solar group. The management agreement will end, by the latest, in May 2025. The the company has hired Gloria Gallorini as head of administration. Gloria has been working with EAM Solar as an employee in Energeia AS under the management agreement since 2014. Gloria is an Italian citizen with detailed knowledge of the administrative procedures relating to the operation of the company’s four solar PV power plants in operation in Italy. お知らせ • Jan 03
EAM Solar ASA, Annual General Meeting, May 21, 2025 EAM Solar ASA, Annual General Meeting, May 21, 2025. お知らせ • Oct 15
Nordnet Livsforsikring AS and Nordnet Pensionsförsäkring AB acquired 5.61% stake in EAM Solar ASA (OB:EAM). Nordnet Livsforsikring AS and Nordnet Pensionsförsäkring AB acquired 5.61% stake in EAM Solar ASA (OB:EAM) on October 14, 2024.
Nordnet Livsforsikring AS and Nordnet Pensionsförsäkring AB completed the acquisition of 5.61% stake in EAM Solar ASA (OB:EAM) on October 14, 2024. Reported Earnings • May 25
First quarter 2024 earnings released: EPS: €0.04 (vs €0.075 in 1Q 2023) First quarter 2024 results: EPS: €0.04 (down from €0.075 in 1Q 2023). Revenue: €210.5k (flat on 1Q 2023). Net income: €262.5k (down 49% from 1Q 2023). お知らせ • May 11
EAM Solar ASA Elects Elisabeth Dragseth as New Member of the Board EAM Solar ASA at the EGM held on May 10, 2024, elected Elisabeth Dragseth as new member of the board. お知らせ • Mar 09
EAM Solar ASA Announces Legal Status Update on Criminal Appeal Court of Milan Postpones Next Hearing to May 2024 EAM Solar ASA announced that 5 March 2024, was the first of two scheduled hearings for final arguments before the Fifth Section of the Court of Appeal of Milan in relation to the ongoing criminal case brought by the Italian State for subsidy fraud, and for contractual fraud against EAM Solar ASA. The company has been informed that the second hearing has been postponed from the 20 March until 16 May 2024. are also informed that the Appeal Court intends to issue its ruling on this same date, after the conclusion of this hearing. お知らせ • Mar 01
EAM Solar ASA Receives the Milan Chamber of Arbitration's Final Decision in Case Concerning Payment Obligations Between EAM Solar ASA and Aveleos SA EAM Solar ASA received the Milan Chamber of Arbitration's (CAM) final decision in the ongoing arbitration case concerning payment obligations between EAM Solar ASA and Aveleos SA under the share purchase agreement of 2013. The arbitration court decided to award both parties the right to receive payments under the SPA, including calculated interest up until 29 February 2024, and allocated these as follows: EAM Solar ASA/EAM Solar Italy Holding Srl. was granted the right to receive a payment from Aveleos of approximately EUR 4,024,418 in damages for breach of the representations and warranties up to a liability cap. Aveleos SA was granted the right to received a payment from EAM Solar ASA/Eam Solar Italy Holding Srl. of approximately EUR 1,084,605 representing the net set-off for the various contractual claims and obligations between the parties in accordance with the SPA. The conclusion of CAM's decision in the arbitration proceedings is a net amount in favour of EAM Solar ASA/E AM Solar Italy Holding Srl. the company of approximately of EUR 2,939,814. Although immediately payable, the company do not expect, based on previous experience, Aveleos SA, or its shareholders Enovos Luxembourg SA and the Renova Group, to honour any payment obligations without further legal proceedings. The CAM decision may be appealed by both parties to the civil Court of Milan. The arbitration court decided not to consider any merits relating to the ongoing criminal proceedings against directors of Aveleos SA for fraud against the State of Italy nor EAM Solar ASA in their decision. 
