Photon Energy Intends to Move to the Main Markets of the Warsaw and Prague Stock Exchanges and Secure a Listing on the Frankfurt Quotation Board
 

- The Company intends to have the entire issued share capital admitted to trading on both main markets

- The listing on the Quotation Board of the Frankfurt Stock Exchange shall enable Eurozone investors to acquire the Company's shares without currency risk

- The Company's ticker number in both main markets will remain 'PEN'

Amsterdam - 14 May 2020 - Photon Energy N.V. (WSE: PEN, the 'Company' or 'Photon Energy') announces its intention to move the listing of its shares from the New Connect market organized by the Warsaw Stock Exchange ('WSE') and Free Market organized by the Prague Stock Exchange ('PSE') to the main markets of the aforementioned stock exchanges. The Company intends to have the entire issued share capital admitted to trading on both main markets ('Admission').

The Admission will take place upon the adoption of relevant resolutions authorizing the move to the main markets of the Warsaw and Prague Stock Exchanges by the Company's General Meeting. If the General Meeting consents to the listing of the Company's shares on the main markets of the WSE and the PSE, the Company will prepare a prospectus for this purpose, which will be published upon its approval by the relevant supervision authority.

Photon Energy shares shall be subsequently listed on the Quotation Board of the Frankfurt Stock Exchange, with the objective being to enable Eurozone investors to trade the Company's shares without currency risk.

Changing markets will not involve any offering of new or existing shares. The Company's ticker number in both main markets will remain 'PEN'.

'Our listings on the New Connect and Free Market of the PSE have served us well in accessing capital markets to develop our integrated business model and to grow our proprietary portfolio of photovoltaic power plants at an opportune time in both the European and Australian markets. Given the solid growth of the business, both financially and operationally, we believe that the listing on the main market of the WSE is the most appropriate platform for our future development in the context of the dynamic growth of the Polish PV sector and its increasing importance in our strategic plans. With the move to the main markets of the Warsaw and Prague Stock Exchanges and the Quotation Board of the Frankfurt Stock Exchange, we are confident in improving our profile and further broadening our investor base,' said Georg Hotar, CEO of Photon Energy.

Photon Energy is not raising any funds or issuing any new shares in connection with the Admission. The Company has already secured financing for the coming years. In 2019, the Company secured bank financing for 15 years, worth EUR 28.3 million for 46 projects in Hungary, with a total capacity of 31.5 MWp, after successfully increasing its 5-year EUR bond with a 7.75% coupon to EUR 37.5 million.

'This is a testament to the transparency of the company, our proactive communication with investors and our flawless track record in servicing our quarterly bond coupons since 2013. We believe in the importance of access to capital through public markets, and therefore we remain strongly committed to open and pro-active investor relations,' commented Clemens Wohlmuth, CFO of Photon Energy.

Legal note

This announcement does not constitute a prospectus, nor a prospectus-equivalent document. Nothing in this announcement constitutes or forms part of and should not be construed as an offer to sell, or the solicitation or invitation of any offer to buy or subscribe for or underwrite or otherwise acquire, any securities of the Company or any member of its group ('Group'), nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its Group, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever, in any jurisdiction, including the United States, in which such offer, solicitation or sale is not permitted. The Company's shares have not been registered under the U.S. Securities Act of 1933, as amended ('U.S. Securities Act'), and may not be offered or sold in the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements of the U.S. Securities Act.

 

ABOUT PHOTON ENERGY

Photon Energy N.V. is a global solar energy solutions and services company covering the entire lifecycle of solar energy systems. Additionally, its subsidiary, Photon Water Technology (PWT), focuses on developing and providing water purification, remediation, and treatment systems for worldwide deployment. Since its foundation in 2008, Photon Energy has built and commissioned over 80 MWp of solar power plants across two continents and 60.6 MWp as part of its own portfolio. Current project development includes a project pipeline of 738 MWp in Australia (580 MWp in partnership with Canadian Solar) and 14.2 MWp in Hungary. The O&M division provides operations and maintenance services for 300 MWp worldwide. Photon Energy is headquartered in Amsterdam and has offices in Europe and Australia. For more information, please visit

MEDIA CONTACT

Martin Kysly
Photon Energy
T 0
E