PNE WIND AG today announced two changes in the Supervisory Board. The members of the Supervisory Board Mr Horst Kunkel and Mr Alfred Mehrtens will resign from their offices with effect from August 31, 2010. Upon a decision of the Tostedt District Court of August 11, 2010, Mr Alain Huberty and Mr Jacquot Schwertzer were appointed as new Supervisory Board members with effect from September 1, 2010 at the request of the Board of Management with the consent of the Supervisory Board. Both men are members of the Management Committee and Mr Alain Huberty is also Executive Director and General Secretary of Luxempart S.A., which subscribed for partial debentures of a convertible loan issued by PNE WIND AG at a volume of EUR 16.87 million and for shares from a capital increase from authorised capital. Following conversion of the debentures and as a result of the shares held by it, Luxempart S.A. would have a stake of approx. 15% in PNE WIND AG, thus being the largest single shareholder in the Company. As the managers of this successful investment company listed on the Luxembourg Stock Exchange both representatives of Luxempart S.A. will contribute substantial business management knowhow to the Supervisory Board.
Mr Mehrtens has been a member of the Supervisory Board since May 14, 2004, and Mr Horst Kunkel since May 26, 2005. Both retiring members have made significant contributions to the Company's successful restructuring, which was started in 2004, and to the continuous growth of PNE WIND AG since then. The Board of Management and the Supervisory Board thank Mr Kunkel and Mr Mehrtens for their longstanding commitment to PNE WIND AG and look forward to working with their successors Mr Huberty and Mr Schwertzer.
Press release Box-ID: 366284
PNE AG
Peter-Henlein-Str. 2-4
27472
Cuxhaven,
Germany
http://www.pnewind.com
Contact
Ms
Alexandra
Edinger
+49 611 20585516
PNE AG
PNE WIND AG with its headquarters in Cuxhaven develops and implements wind farm projects on land (onshore) and at high sea (offshore). Its core competence is the development, planning, implementation and financing of wind farms and their operation or sale including subsequent service. So far, the company has set up 95 wind farms with 544 wind energy systems and a total nominal output of 788 MW.
Alongside its business activities in the established German home market, PNE WIND AG is also increasingly investing in dynamic growth markets and has subsidiaries and representations via joint ventures in Hungary, Bulgaria, Romania, Turkey, the UK, USA and Canada. Wind farm projects with a nominal output of about 5,500 MW are currently being processed in these countries and are to be implemented in the medium term. In Germany (onshore) currently wind farm projects with a nominal output of more than 900 MW are being processed.
Furthermore, PNE WIND AG develops offshore wind farm projects, three of which have already been approved in German waters. Entering promising foreign markets is also being examined for the offshore area.
