EANS-Adhoc: PNE WIND AG sells offshore wind farm project, "Gode Wind II" to the
Danish investor, Brancor Capital Partners
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Contracts
29.12.2011
Cuxhaven, 29th December 2011 - The wind farm project developer, PNE WIND AG
(ISIN: DE000A0JBPG2) is selling its shares in PNE Gode Wind II GmbH, in which
the offshore wind farm project "Gode Wind II" is being developed, to HYSSING
Vermögensverwaltungsgesellschaft mbH, which is held by the Danish Brancor
Capital Partners APS. The agreed purchase price for all shares of PNE Gode Wind
II GmbH is based on a valuation of about EUR 317,000 per MW including the
already invested development costs. The transfer of 50.1 percent of the shares
will take place on 29th December 2011 as condition precedent to a first
significant payment on 29th February 2012 and a further instalment becoming due
on 25th March 2012. This is to equip Brancor Capital Partners APS with the
necessary time to pay the agreed purchase price. The remaining 49.9 percent of
the shares is to be transferred on receipt of the second purchase price rate.
With financial close the third payment is agreed. As the last payment, the last
smaller instalment is to be paid on commissioning of the tenth wind turbine.
The 50.1 percent share transfer will have a positive effect on PNE WIND AGs
corporate EBIT in the year 2011 if the purchase prices are paid as planned. In
addition, there will be a revaluation of the initially remaining 49.9 percent of
the shares within the company due to the IFRS accounting within the corporation,
which will have an additional positive effect on the 2011 corporate EBIT.
Against this background PNE Wind AG expects to realise a major part of its
corporate forecast for the financial years 2011 to 2013 of cumulated EUR 60 to
72 million in 2011 already.
The wind farm is planned to be located in the North Sea, about 38 kilometres
offshore of the island of Norderney and has already been approved by the
Bundesamt für Seeschifffahrt und Hydrographie (BSH) (German Federal Maritime and
Hydrographic Agency). The intention is to construct 84 offshore wind energy
plants with a nominal output totalling 252 MW in "Gode Wind II".
Further inquiry note:
PNE WIND AG
Presse und Öffentlichkeitsarbeit
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: info@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
end of announcement euro adhoc
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issuer: PNE WIND AG
Peter-Henlein-Str. 2-4
D-27472 Cuxhaven
phone: +49(0)4721 718 06
FAX: +49(0)4721 718 373
WWW: http://www.pnewind.com
sector: Alternative energy
ISIN: DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English