Plambeck Neue Energien AG

euro adhoc: Plambeck Neue Energien AG
Restructuring & Recapitalisations
Plambeck Neue Energien AG to issue convertible bond (E)

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

Cuxhaven, 12. 02. 2004 - The Supervisory Board of the Plambeck Neue Energien AG (ISIN: DE0006910326) today agreed to the motion of the Management Board passed on 11.02.2004 to issue a convertible bond. The 6 % convertible bond from 2004/2009 is divided in up to 9.4 million debentures with a calculated par value of 2.50 Euro each, i.e. a total of up to 23.5 million euros as a calculated total par value. Each debenture entitles the holder to the exchange into one of individual share certificates in the name of the company from the conditional capital III. The bond has a duration until 14 March 2009 and can only be converted for the first time after the Annual General Meeting in 2005. The rate of interest totals 6 per cent per annum. The shareholders will be offered the bond as part of a non-public offer at a subscription price of 2.50 euros per debenture in a ratio of 2:1. The subscription period runs from 23 February 2004 until 8 March 2004. Any debentures not taken up by the old shareholders may be offered to selected institutional investors. The preconditions for the issue of this convertible bond were created at a special meeting of the shareholders on 4 November 2003.

The funds raised by this bond are to be employed to rapidly realise the many wind farm projects in Germany that have received construction approval, to push ahead with wind farm projects in France and to bring other offshore wind farm projects to the approval phase.  

end of announcement            euro adhoc 12.02.2004
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Further inquiry note: Rainer Heinsohn +49(0)4721-718-453 heinsohn@plambeck.de

Branche: Alternative energy
ISIN:      DE0006910326
WKN:        691032
Index:    Nemax 50, Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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