PNE WIND AG (FRA:PNE3) PNE AG resolves to repurchase up to 2.19 million of its own shares to service the convertible bonds 2014/2019 and for the purpose of redemption

Transparency directive : regulatory news

08/11/2018 10:13

DGAP-Ad-hoc: PNE AG / Key word(s): Share Buyback
PNE AG resolves to repurchase up to 2.19 million of its own shares to service the convertible bonds 2014/2019 and for the purpose of redemption

08-Nov-2018 / 10:13 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.



Ad hoc publication of PNE AG
in accordance with Section 17 of the EU Market Abuse Regulation (MAR)
(ISIN: DE000A0JBPG2)


PNE AG resolves to repurchase up to 2.19 million of its own shares to service the convertible bonds 2014/2019 and for the purpose of redemption

Cuxhaven, November 8, 2018 - The Board of Management of PNE AG today decided to implement a share buy-back programme on the basis of the authorisation granted by the Company's general meeting of shareholders on May 31, 2017 and with the approval of the Supervisory Board. The Company will acquire up to 2.19 million of its own shares (approximately 2.86 % of the company's current registered share capital).

The buy-back will be made by means of a voluntary public share buy-back offer against payment of a cash consideration within a purchase price range of EUR 2.25 up to EUR 2.74 per share (excluding incidental acquisition costs). The final purchase price per share will be determined by the company following the end of the acceptance period and based on the regulations of the offer document.

The acceptance period of the share buy-back programme starts on November 12, 2018, 00:00 hours (CET), and ends on November 30, 2018, 24:00 hours (CET). The share buy-back programme may be extended, suspended and also resumed at anytime where necessary and permitted under law.

The shares are intended, on the one hand, to meet PNE AG's obligations arising from the 2014/2019 convertible bonds, which expire in the coming year and bear interest at 3.75% p.a., and, on the other hand, for the purpose of redemption.

Further details on the public share buy-back offer can be taken from the offer document, which will be published on November 8, 2018 and therewith before the start of the acceptance period on the corporate website of the company (www.pne-ag.com) in the section "Investor Relations / Share / Share Buy-back" and subsequently in the Federal Gazette under www.bundesanzeiger.de.



Contact:
Contact:

PNE AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn@pne-ag.com

PNE WIND AG
Head of Investor Relations
Christopher Rodler
Tel: +49(0) 40 - 879 33 114
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Christopher.Rodler@pne-ag.com

08-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: PNE AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info@pne-ag.com
Internet: http://www.pne-ag.com
ISIN: DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0,
WKN: A0JBPG, A2LQ3M, , A12UMG,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of Announcement DGAP News Service

743061  08-Nov-2018 CET/CEST

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