Shareholders’ meeting approves new bylaws and resolves a free capital increase reserved for employees

Verona, May 22, 2023 – White Energy Group, a company specializing in energy efficiency and energy saving services, becomes a joint stock company. Seven years after its founding, the Esco, with offices in Verona and Cagliari, takes another step to seize opportunities for growth and evolution in the sector and offer transparency, flexibility and more opportunities to stakeholders.

The shareholders met last Friday in an extraordinary meeting to approve the transformation into a joint-stock company, and in addition to increasing the share capital to 100,000 euros, they confirmed the composition of the board of directors, with the positions of chairman and CEO held by Gianluigi Mele. The shareholders also plan to co-opt independent directors to the board shortly who can bring important expertise in areas such as legal, finance, and marketing.

“On the growth and access to financial markets front, the transformation into a Spa will allow us to access a wider range of financial and capital options, facilitating potential investments and new development opportunities,” explains Gianluigi Mele. Not only that. Being a Spa for Weeg offers profiles in transparency, corporate governance and organizational structure that may be more attractive to institutional and private investors.

As a spa, the company is able to adopt more flexible incentive policies for employees. In fact, in the transformation operation, Weeg has reserved a capital increase plan for employees who will be able, through shares, to participate in the life of the company.

“The company will be able to sustain growth and implement new innovative projects in the field of energy efficiency,” Mele continues, “with new financial partners and qualified and motivated employees, working in a stimulating and rewarding work environment. For Gianluigi Mele this is “an important milestone in the company’s growth and development. We thank members, employees and business partners for the trust and support shown over the years. We will continue to dedicate ourselves with commitment and passion to offering cutting-edge energy efficiency solutions, supporting the transition to a more sustainable future.”