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PNE AG — Capital/Financing Update 2014
Oct 2, 2014
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Capital/Financing Update
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Media | 2 October 2014 10:42
PNE WIND AG secures approx. EUR 40.0 million in funds to finance a Yieldco with placement of capital increase (83.59%) and convertible bond (16.41%)
(DGAP-Media / 02.10.2014 / 10:42)
Cuxhaven, October 2, 2014 - The wind farm project developer PNE WIND AG
closes the capital measures resolved on September 11, 2014 by means of a
capital increase and the issuance of a convertible bond. In total,
13,931,195 new shares (corresponding to approx. 61.10% of the total shares
offered) were placed with existing shareholders and new investors at a
price of EUR 2.40 per share. In addition, convertible bonds totaling a
nominal value of EUR 6,565,132.20 were placed (corresponding to approx.
25.67% of the total convertible bonds offered).
PNE WIND AG will receive total gross proceeds amounting to approx. EUR 40.0
million from the above capital measures. With the proceeds, PNE WIND AG
has secured the capital needed to implement the planned strategic expansion
of its business model. The Company intends to bundle completed wind farms
with approx. 150 MW of nominal capacity in a new subsidiary (called
Yieldco) with the intention to sell this new company in part or completely
to investors by the end of 2016. The planned sale represents an additional
earning potential for the Company.
CEO Martin Billhardt: "During the road show which took place over the last
few weeks, we have seen many investors who understood our strategic plans
to expand our business model and have chosen to support us. To our
investors and to those who exercised their subscription rights, bought
subscription rights and or participated in the private placement, we would
like to express our gratitude for the trust you have placed with us."
The capital measures were completed together with Close Brothers Seydler
Bank AG, Frankfurt am Main as Sole Global Coordinator and Sole Bookrunner
and Blättchen Financial Advisory GmbH as Financial advisor.
Company profile
PNE WIND AG
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so,
its core competence lies in the development, project planning, and
financing of wind farms and in their operation and sales respectively with
the provision of subsequent service. To date, the company has already
successfully developed wind farm projects with a combined total nominal
output of more than 2,000 megawatts.
In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth markets
and is already represented in joint ventures and by subsidiary companies in
14 countries in Europe, Africa and North America. In these countries wind
farm projects with a nominal output of over 5,200 megawatts are currently
being developed and are to be completed in the medium term.
In addition, PNE WIND AG is developing offshore wind farm projects, of
which four major projects in German waters have already been approved.
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: [email protected]
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: [email protected]
Investor Relations
cometis AG
Ulrich Wiehle / Janis Blaum
Tel: +49(0) 611 - 205855-64
Fax: +49(0) 611 - 205855-66
E-mail: [email protected]
End of Media Release
Issuer: PNE WIND AG
Key word(s): Energy
02.10.2014 Dissemination of a Press Release, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: [email protected]
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 News DGAP-Media
290017 02.10.2014