3W Power S.A. / AEG Power Solutions: 3W Power/AEG Power Solutions elects Lamberto Tassara, Michel Augonnet and Richard Thomson to its Board of Directors

On September 14, Lamberto Tassara, Michel Augonnet and Richard Thomson were appointed to serve until 2024 as Non-Executive Directors to the Board of Directors of 3W Power S. A., the holding company of AEG Power Solutions. This follows the final steps to the Company's consolidation of ownership through its debt for equity swap of its Senior facilities. Two institutional investors now hold 84% of the share capital and 100% of the company's debt.

A clean and recapitalized balance sheet and a stable business allow the new Directors and management team to dedicate all of their efforts on serving customers, growing markets and developing opportunities in AEG PS' core strengths of power conversion. The appointment of the directors underscores the investors' commitment to bring the best talent to strengthen the company's execution and ensure a prosperous future for the business.

Lamberto Tassara
Former President of Power Systems EMEA, Emerson Network Power and President UPS for Chloride PLC, spent his full career with world class companies in power conversion. Extensive experience in R&D, product development, sales, marketing and customer care/service. Developed sustainably profitable business activities in a variety of applications including Data Center, Industrial Infrastructure (E.g., Oil & Gas, Power Generation, Transmission & Distribution, Nuclear), General Industry, and Renewables. And notably, a strong track record building service networks dedicated to customer intimacy and fostering loyalty.

Michel Augonnet
President of MVA Connect, a consultancy for Energy. He served in several Senior management positions in power businesses notably as Senior Vice President of Alstom Grid. Currently is VP Finance for CIGRE, President of Super Grid Institute (Lyon), MD at Conquest Advisory, and Director for Actom PTY (South Africa).

Richard Thomson
Specialist turnaround director, with 20 years experience in credit advisory, special situations investing and board turnaround. Specific focus on delivering positive financial results following company restructurings. He has served in multiple positions as advisor, investor and on the company-side director, across a wide variety of sectors (including power), and for a wide range of companies (blue-chip corporates, SME, governments). His career includes senior positions at Pelican Rouge, Alcentra and Rothschild.

 

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About 3W Power/AEG Power Solutions:
3W Power S.A., based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands.
AEG Power Solutions is a leading provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets throughout the world with main sites in France, Spain, Germany, Singapore and China, with further direct 14 sales and service offices worldwide.

For more information, visit www.aegps.com

This communication (including any documents referenced herein) does not constitute an offer or the solicitation of an offer to buy, sell or exchange sany securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power. 3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.

For further enquiries please contact:
Christian Hillermann
Hillermann Consulting
Investor Relations for AEG Power Solutions
Tel.: +49 40 320 279 10
Email: investors@aegps.com