PNE WIND AG receives more than 10 mill. Euro from convertible bond and increase in capital

(PresseBox) ( Cuxhaven, )
The increase in capital offered by PNE WIND AG (ISIN: DE000A0JBPG2) has been placed in a volume of 3,250,000 shares. The also offered convertible bond was subscribed in a volume of 3,850,000 Euro. Due to the placement of the increase in capital and the convertible bond, PNE WIND AG will obtain an issue volume of more than 10 million Euro altogether. Due to the increase in capital, the share capital of the company increases to 44,524,966 Euro. The new shares were offered to the existing shareholders of the company with subscription rights. Shares not subscribed to by these shareholders were applied for by selected investors in the context of a private placement.

The accrued funds are to be used for financing further growth of the internationally operating PNE WIND AG. With these capital measures, the company has created additional leeway for accelerating the development and financing of wind-farm projects in Germany and abroad on land (onshore) and at high sea (offshore). The company was accompanied in these capital measures by the Close Brothers Seydler Bank AG.

Explanatory text:

Martin Billhardt, Chairman of the Board of PNE WIND AG, regards the placement of the capital measures as a conformation for the company: "We were able to convince the investors of the future prospects of PNE WIND AG, in spite of the difficult situation of capital markets." The Board of Directors considers the company's competitive position to be significantly stronger, since the expansion course already started is to be accelerated with the aid of the additional funds. "We already are active on nine foreign markets today; just recently, we entered to Canada with a joint venture", Martin Billhardt explains the growth strategy. "We will continue on this path and resolutely use existing market opportunities."

According to PNE WIND AG, wind-farm projects for environmentally-friendly power generation will continue to be attractive investments despite the current economic conditions. This assessment is underlined by current branch studies, which forecast new installations world-wide with an output of 82 GW per year for 2020. The analyses expect global turnover potential for the industry in the region of 82.5 billion euros per year. In the long term, the wind market thus will increasingly profit from the growing scarcity of fossil energy sources as well as the necessity of reducing CO2 emissions due to the climate change.
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