Corporate News

PNE AG finalised share buy-back

Cuxhaven, December 5, 2018 - In the course of the public share buy-back offer for the acquisition of own shares more than 5,600,000 shares have been offered to PNE AG for buy-back within the purchase price range of EUR 2.25 up to EUR 2.74 upon expiry of the acceptance period on 30 November 2018 (24:00 hours, CET). According to the Offering Document the public share buy-back offer related to the buy-back of an overall number of up to 2,190,000 shares ("Targeted Repurchase").

As the total number of shares for which the offer has been accepted is above the Targeted Repurchase, the Final Purchase Price according to section 3.4 of the Offering Document equals the lowest price (within the purchase price range of EUR 2.25 up to EUR 2.74) in relation to the acceptance declarations at which the company is able to acquire the Targeted Repurchase of 2,190,000 shares. The Final Purchase Price calculated by the Company on this basis at the end of the acceptance period amounts to EUR 2.65 per share. Hence follows an allotment rate of 88,1281 percent for the offered shares of shareholders who accepted the offer at a Stakeholder Purchase Price equal to the Final Purchase Price or below or at the Final Purchase Price.

The settlement of the offer is expected to take place on 14 December 2018.

About the PNE Group

The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed to become a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the Company's services encompass all the phases of developing and operating wind farms. In addition to wind energy, in the future, the Company's range of offers will include photovoltaics, electricity storage, services and the supply of clean electricity. In this context, PNE is also involved in the development of power-to-gas solutions.

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