Ellomay Capital Announces Results of 2022 Extraordinary General Meeting of Shareholders

Rhea-AI Summary

Ellomay Capital Ltd. (ELLO) held an extraordinary general meeting on January 20, 2022, where shareholders approved key proposals. These included the reelection of Dr. Michael J. Anghel as an external director for a three-year term, along with the approval of his terms of service and options grant. Ellomay focuses on renewable energy projects primarily in Israel and Europe, having invested in significant assets such as photovoltaic power plants and a large power plant in Israel. The company continues to seek new opportunities in the renewable energy sector.

Positive

• Approval of Dr. Michael J. Anghel's reelection as an external director for three years.
• Grant of options to Dr. Anghel enhances management incentives.

Negative

• None.

TEL-AVIV, Israel, Jan. 20, 2022 /PRNewswire/ -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) ("Ellomay" or the "Company"), a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel, today announced that at the extraordinary general meeting of the Company's shareholders, held on January 20, 2022 (the "EGM"), the following proposals were adopted and approved by the required majority (including the special majority required in connection with proposals 1 and 3):

1. Reelection of Dr. Michael J. Anghel an external director for a second three-year term;
2. Approval of the terms of service of Dr. Anghel as an external director; and
3. Approval of grant of options to Dr. Anghel as an external director.

For more information, please see the Company's Notice and Proxy Statement relating to the EGM, furnished on Form 6-K to the Securities and Exchange Commission on December 9, 2021.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol "ELLO". Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe and Israel.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy and Spain, including:

• Approximately 7.9MW of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MW in Israel;
• 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel's largest private power plants with production capacity of approximately 860MW, representing about 6%-8% of Israel's total current electricity consumption;
• 51% of Talasol, which owns a photovoltaic plant with a peak capacity of 300MW in the municipality of Talaván, Cáceres, Spain;
• Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million (with a license to produce 7.5 million) Nm3 per year, respectively; and
• 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.

For more information about Ellomay, visit http://www.ellomay.com.

Contact:
Kalia Rubenbach
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com

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SOURCE Ellomay Capital Ltd.

FAQ

What proposals were approved at Ellomay's extraordinary general meeting on January 20, 2022?

The proposals included the reelection of Dr. Michael J. Anghel as an external director, approval of his terms of service, and the grant of options.

Who is Dr. Michael J. Anghel in relation to Ellomay Capital?

Dr. Michael J. Anghel is an external director recently reelected for a three-year term by Ellomay Capital's shareholders.

What is the business focus of Ellomay Capital Ltd.?

Ellomay Capital focuses on renewable energy and power generation in Europe and Israel.

What assets does Ellomay Capital currently hold?

Ellomay holds photovoltaic plants in Spain and Israel, a significant interest in Dorad Energy Ltd., and is involved in multiple renewable energy projects.

Where are Ellomay Capital's shares listed?

Ellomay Capital's shares are listed on the NYSE American and the Tel Aviv Stock Exchange under the ticker symbol ELLO.