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PNE WIND AG

EANS-Adhoc: PNE WIND AG negotiates convertible bond and plans increase in capital

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
Company Information
18.06.2009
Cuxhaven, June 18, 2009 - The Board of Directors and the Supervisory 
Board of the wind-farm developer PNE WIND AG (ISIN: DE000A0JBPG2) 
today resolved the issue of a convertible bond of a nominal amount of
up to 37.5 mill. Euro and an increase of capital from approved 
capital to the amount of up to 10% of the current original capital. 
With the increase in capital, the original capital of the company 
will rise to up to 45,402,462 Euro. If the convertible bond is 
completely placed and the capital is increased completely, the flow 
of funds to the company will amount to about 45.3 mill. Euro.
The convertible bonds will be issued at a price of 100% and provide 
for a conversion price of 2.50 Euro per share acquired in future by 
exercising of the right of conversion. The subscription price for a 
new share from the increase in capital amounts to 1.90 Euro.
The existing shareholders will be granted a subscription right for 
both issues. The subscription period is planned for the period from 
June 24, 2009 until July 08, 2009. Trading in subscription rights is 
not planned. Convertible bonds not purchased by the shareholders and 
also new shares not subscribed are to be offered to selected 
investors by way of a private placement.
The objective of the two capital measures is to finance the further 
growth of the internationally active PNE WIND AG. With the flow of 
funds, the company wishes to create additional leeway in order to 
further the corporate strategy of the development and financing of 
wind-farm projects in Germany and abroad on land (onshore) and at 
high sea (offshore). The company is being accompanied in these 
capital measures by the Close Brothers Seydler Bank AG.
< End of the ad-hoc report >
end of ad-hoc-announcement ==========================================
====================================== Explanatory text:
Martin Billhardt, Chairman of the Board of Directors of the company, 
explains the backgrounds to the procedure: "We wish to grow even 
further! With the help of the planned capital measures, we are 
creating the financial basis for a further acceleration of the 
expansion course which PNE WIND AG has already started. Precisely in 
the current environment, market changes can open at short notice." 
The Board of Directors particularly emphasises the promising market 
position of the company. "We fulfil all the preconditions in order to
profit from the future rise in importance of wind energy in a lasting
way. Our project pipeline is well filled and, with an equity quota of
36%, we have very robust financing. In addition, PNE WIND AG is 
already acting on a series of international future markets, for 
example the USA. We wish to improve this strong position even further
in future, for which the planned capital measures are an important 
step."
In the company's opinion, the framework conditions for wind energy 
are still favourable, with the result that implementation of the 
capital measures at the present time makes early setting of the 
points for a continued positive development of the company possible. 
Current branch studies expect world-wide new installations with an 
output of 82 GW per year and a turnover potential of around 82.5 
billion € per year for 2020. Accordingly, the long-term growth 
pushers of the wind branch, such as the finite nature of fossil 
resources or the effects of the climate change, remain intact despite
the current economic situation.
The granting of a subscription right also means that the 
shareholders' rights are considered. "Our shareholders are given the 
opportunity of participating in the further success of the company," 
is the comment on the terms given by the Chairman of the Board of 
Directors, Martin Billhardt. In addition, new investor groups are to 
be developed in the course of a private placement with the 
convertible bond and shares not issued to existing shareholders.
end of announcement                               euro adhoc

Further inquiry note:

PNE WIND AG
Presse- und Öffentlichkeitsarbeit
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: info@pnewind.com

Investor Relations
cometis AG
Ulrich Wiehle / Dirk Stauer
Tel: +49(0)611 - 205855-11
Fax: +49(0)611 - 205855-66
E-mail: wiehle@cometis.de

Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Hamburg / Open Market
Stuttgart / Open Market
Hannover / Open Market
München / Open Market
Frankfurt / regulated dealing/prime standard
Berlin / free trade
Düsseldorf / free trade