Mare Engineering Group SpA MIL:MARE:
SAID ON MONDAY BOARD HAS APPROVED MERGER PLAN FOR INCORPORATION OF POWERFLEX
DEAL TO NOT INVOLVE NEW SHARES ISSUE, MARE'S DIRECT PARTICIPATION IN POWERFLEX TO BE CANCELLED AS IT HOLDS 100% OF POWEFLEX SHARE CAPITAL
DEAL SUBJECT TO GOLDEN POWER AUTHORIZATION FROM ITALIAN GOVERNMENT
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