(Alliance News) - algoWatt Spa announced Monday that its board of directors resolved to approve the appointment of legal advisor to the firm Bonelli Erede, in the person of Marco Arato in order to proceed with the planned restructuring.

Arato's legal advisory assignment is in addition to the one given to Giulio Andreani, Of Counsel at PwC TLS Avvocati e Commercialisti, in the area of resolving corporate crisis tax issues.

On Monday, algoWatt closed 2.3 percent in the red at EUR0.30 per share.

By Claudia Cavaliere, Alliance News reporter

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