26/02/16

HTS: NEW BOARD OF DIRECTORS AND NEW ROLES

Novosedly (Czech Republic), 26 February 2016. After more than thirteen years of intense, successful collaboration with LU-VE Group, Mr Franco Fonzari has officially tendered his resignation from his role as Sole Director of HTS - Heat Transfer Systems s.r.o. The communication was issued during the assembly meeting for the approval of the 2015 Financial Statement.

As provided for in the contractual agreements, LU-VE SpA, at the same time as the resignation, acquired the stock in HTS held by Mr Fonzari, equal to 10% of the company share capital. HTS - Heat Transfer Systems s.r.o. is entirely controlled by LU-VE SpA with effect from 25 February 2016.

Sincere thanks go to Mr Fonzari for his valuable contribution to the Company during his many years of work. He will continue to work in collaboration with LU-VE Group as Scientific Consultant on some Research and Development projects aimed specifically at the design of new heat transfer technologies. In this role he will be working in close collaboration with Stefano Filippini, Group Director of R&D and Design.

The HTS assembly meeting also decided on the modification of the Company Statutes and the constitution of a Board of Directors made up of four Members. Those nominated were: as President, Matteo Liberali (CEO, LU-VE Group); as Vice President, Michele Faggioli (COO, LU-VE Group); Matůš Hajdučko (who already covers the role of CFO of HTS, since 2005); and Jacek Pokrywka (CFO of SEST-LUVE POLSKA since 2002 and Member of its Board since 2014).

Michele Bubisutti has been given responsibility for Operations (Production, Technologies, Logistics, Technical Office and Quality).

Matůš Hajdučko will be in charge of the activities of Administration, Finance and Control, Human Resources and Information Technology.

Michele Ampezzan has responsibility for the management of Sales and Marketing of the OEM division (as had already been made official in October 2014).

The reorganization of HTS is an integral part of the reorganization of LU-VE Group, within the MOC Project – Make One Company, which was launched at the end of 2014. The aim is to maximize the potential of the Group and its internal synergies in order to achieve the ambitious goals set for the coming years. Once again, LU-VE Group would like to express its gratitude to Franco Fonzari and everyone in HTS for their work up to now; best wishes for future successes. All the best to all those who have been called to these prestigious and challenging appointments.

"OUR BEST DAYS HAVE YET TO BE LIVED" (Nâzım Hikmet)