EANS-News: PNE WIND AG approves share buyback programme
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Buybacks
Cuxhaven (euro adhoc) - December 3, 2012 - PNE WIND AGs Board of Directors
resolved on 3rd December 2012 to buy back up to 4,126,700 of its own shares on
the stock exchange during the period from 4th December 2012 to 30th June 2013
(anticipated). The buyback volume amounts to approx. 9 percent of the company's
total share capital. The Board of Directors is thus making use of the
shareholders meeting's resolution dated 14th May 2009 which authorizes it to
purchase up to 4,126,700 of its own shares by 13th May 2014. The shares bought
back can be used for all purposes foreseen in the shareholders meeting
authorization resolution. This includes retiring the shares, the placement of
the shares with select investors for cash payment close to the stock exchange
price and or use of the shares for the acquisition of companies or investment in
companies.
The share buyback will be carried out under the leadership of a bank, which will
make its decision on the timing of individual buybacks independently and
uninfluenced by PNE WIND AG. The buyback of the shares will be carried out in
accordance with § 14, Paragraphs 2 and 20 a WpHG and take the safe harbour
regulations in accordance with EC no. 2273/2003 into account.
The purchase price of the shares (excluding secondary transaction costs) may not
lie more than 10 percent above or below the average Xetra closing price on the
Frankfurt stock exchange on the five days preceding each purchase. Based on the
Xetra closing price for PNE WIND AG shares on 30th November 2012, the maximum
buyback volume would amount to little more than EUR 8.4 million. This volume may
be changed by variations in the share price.
If required and legally permissible, the buyback programme can be suspended and
restarted at any time.
PNE WIND AG will publish the transactions concluded within the framework of its
share buyback programme weekly in the Investor Relations section of its internet
page, (www.pnewind.com).
Company profile
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 constructed 98 wind farms with 568
wind energy plants and a total nominal output of 814 megawatts. In Germany
(onshore), wind farm projects with over 1,100 MW of nominal output are currently
being developed.
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 South East Europe,
Great Britain, USA and Canada. In these countries wind farm projects with a
nominal output of up to 2,000 MW are 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. An entry into
promising foreign markets is also being examined with regard to the offshore
sector.
Further inquiry note:
PNE WIND AG
Leiter Unternehmenskommunikation
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
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 4 54
Fax: +49(0) 47 21 - 7 18 - 3 73
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
end of announcement euro adhoc
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company: 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: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English