150528 press release annual report


Lugano, 28 May 2015
Further postponement of publication of 2014 annual report
With press release of 29 April 2015, OTI Energy has informed that it will not able to publish audited financial statements for 2014 by the end of April. It therefore has requested and obtained from SIX Exchange Regulation an extension for the publication by no later than 29 May 2015.
Unfortunately, OTI Energy is not yet able to publish the audited financial statements and the finalised annual report for 2014. This in particular for the following reasons: Above all, OTI Energy was not able to obtain the guarantee from a major shareholder, as it hoped for a month ago. It is now seeking to obtain bank and/or other financing by using certain of its assets as security and at the same time to dispose of some of its investments and projects. Further, it has proven difficult to determine the fair value of a participation in a private company and finally, the auditor KPMG will need to conduct additional audit work to review bank transactions and journal entries of 2014. This audit work is required in view of criminal investigations in Italy against OTI Energy's former president Mr Marco Marenco in connection with the insolvency of various of his group companies. OTI Energy wishes to point out that it is neither the object of nor party to such investigations and that Mr Marenco no longer holds any position within the company nor is he a majority shareholder any more.
OTI Energy has again applied to SIX Exchange Regulation and asked for an extension of the publication deadline. With decision of today, SIX Exchange
Regulation has approved of this application and decided as follows:

OTI Energy SA - Via Nassa 31 - Casella Postale 6199 - 6901 Lugano

Tel. +41 91 922 00 73 - Fax +41 91 922 00 78

Email: info@oti-energy.ch- www.oti-energy.ch

"I. The application of OTI Energy SA of 27 May 2015 for granting a further extension of the deadline to publish its 2014 Annual report and to file such report with SIX Exchange Regulation until 30 June 2015 is granted with the following reservation (lit. a) and under the following condition (lit. b):
a. SIX Exchange Regulation reserves the right to suspend trading in the shares in OTI Energy SA in case the 2014 Annual report is not published until Tuesday, 30 June 2015, 11.59 pm CET, at the latest, in accordance with the provisions regarding ad hoc publicity (art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]).
b. OTI Energy SA is required to publish a notice in accordance with the provisions regarding ad hoc publicity (art. 53 LR in connection with the DAH) until Friday, 29 May 2015, 07.30 am CET, at the latest. The ad hoc notice must contain:
- an unaltered reproduction of the wording of cif. I of this decision, placed in a prominent position in the ad hoc notice; and
- the reasons for the second application of OTI Energy SA for granting an extension of the deadline to publish its 2014 Annual report and to file such report with SIX Exchange Regulation."
Further inquiries: OTI Energy SA
Nicolò von Wunster, CEO

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