DGAP-Adhoc: PNE WIND AG has concluded the takeover of the majority shareholding in WKN AG and now holds approx. 53 percent

PNE WIND AG / Key word(s): Investment/Acquisition

04.07.2013 18:16

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Cuxhaven, 4th July 2013 - PNE WIND AG, Cuxhaven, has concluded the takeover
of the majority shareholding in the specialist wind farm developer WKN AG,
Husum, and now holds approx. 53.42 percent of WKN AG. These shares were
taken over from Volker Friedrichsen Beteiligungs-GmbH. Further approx.
29.33 percent were acquired from Siemens Project Ventures GmbH within the
framework of a joint sales right. The closing for these shares will become
effective in the coming days. The purchase price, which is based upon a
company valuation of approx. EUR 93 million for 100% of the WKN shares,
will be paid with cash and approx. 3.1 million PNE WIND AG shares valued at
approx. EUR 8.2 million.
Volker Friedrichsen Beteiligungs-GmbH has informed PNE WIND AG that in
addition to the approx. 3.1 million shares mentioned above, it will acquire
168,680 convertible bonds issued from PNE WIND AG in 2010 from Luxempart
S.A., the current owner of the convertible bonds. The Volker Friedrichsen
Beteiligungs-GmbH will then exercise the right to convert the bonds into
7,667,272 shares. Upon exercising this option, the Volker Friedrichsen
Beteiligungs-GmbH will hold nearly 20 percent of the issued shares
outstanding of PNE WIND AG.

PNE WIND AG and WKN AG have both been active for approx. 20 years in wind
farm project development and conduct this business both in Germany and
internationally. Synergies can be realised through joint purchasing and
sales activities while the markets in which wind farms are developed also
complement each other. The companies are currently active in project
development in Germany, Hungary, Romania, Bulgaria, Turkey, UK, USA,
Canada, France, Poland, Italy, Sweden, South Africa and Ukraine. The
companies are developing onshore wind farm projects with a total nominal
output of approx. 4,800 MW in these markets. PNE WIND AG also develops
offshore wind farms and has already been successful in selling five of
these.

In the financial year 2012, PNE WIND AG reported consolidated sales of EUR
84.4 million according to IFRS accounting rules, an operating result (EBIT)
of EUR 20.4 million and a net income of EUR 17.0 million. In comparison,
WKN AG in 2012 reported sales of EUR 44.4 million according to German
Commercial Code HGB rules (audited), earnings before taxes (EBT) of EUR 9.1
million and a net income of EUR 6.6 million.

Contact:
Contact:

PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn@pnewind.com

PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Scott.McCollister@pnewind.com

Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0) 611 - 205855-64
Fax: +49(0) 611 - 205855-66
E-mail: fischer@cometis.de

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Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info@pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, , DE000A0Z1MR2, ,
DE000A1R0741
WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR, , A1R074
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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