Energiekontor AG

Transaction in Own Shares • Mar 25, 2002

News Details

Corporate | 25 March 2002 16:00

Energiekontor AG english

Energiekontor AG buys back wind farm fund shares Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Energiekontor AG buys back wind farm fund shares Repurchase of wind farm shares decided unanimously Bremen, 25th March 2002. The result could not have been more positive: The 152 partners of the wind farm fund “Debstedt” voted to accept the offer of Energiekontor AG to buy back their shares in the wind farm. The vote came in with no dissenting vote and with only one abstention from voting. The resolution was made at a partners’ meeting on 23rd March. Thanks to the offer of Energiekontor AG the investors of the Energiekontor Umwelt GmbH & Co. Windpark Debstedt KG will be put in a position as if they had never invested in the wind farm. “We are glad that we were able to come to an amicable solution with our investors”, says Sönke Paulsen, Head of Energiekontor’s technical and business service department. The agreement was a positive signal for the negotiations regarding two additional wind farms which are to be bought back by Energiekontor AG. “We are optimistic to finalise the upcoming talks soon”,adds Mr. Paulsen. The Debstedt wind farm which consists of nine wind turbines with an output of 1 MW each has been in operation since the beginning of 2000. The proceeds from the sale of renewable energy produced by the wind farm were below the prognosis. Energiekontor decided to offer to buy back the shares in the wind farm to keep customers’ confidence in the overall well running Energiekontor projects. Contact: Martin Bretag, Director Investor Relations, Tel.: (+49-421) 3304-210, E-Mail: ir@energiekontor.de end of message, (c)DGAP 25.03.2002