EANS-Adhoc: PNE Wind AG / The financial investor Luxempart S.A. is planning an investment in PNE WIND AG to the total of approx. 15% through signing a convertible bond to be issued and a capital incre

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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.
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18.05.2010

Cuxhaven, 18th May 2009 - The financial investor Luxempart S.A. is
planning an investment in the wind farm developer PNE WIND AG (ISIN:
DE000A0JBPG2) to the total of approx. 15% of the nominal capital
(after execution of the transactions presented in the following)
through signing bonds of a convertible bond to be issued and shares
of a capital increase to be carried out, which in each case should be
offered with subscription right to all shareholders. PNE WIND AG has
concluded an agreement with Luxempart S.A., whereby Luxempart S.A.
will purchase the shares from the capital increase which are not
subscribed to by shareholders as well as bonds not subscribed to by
the shareholders in a total volume of EUR17.4 million. At the same
time the executive and supervisory boards of PNE WIND AG have decided
to issue a convertible bond of a nominal sum of up to EUR29.5 million
and to increase capital with the right to the insurance benefit from
authorized capital to the tune of up to 1, 249.500 new shares.

Luxempart S.A. is an independent holding company listed on the
Luxemburg Stock Exchange which holds numerous stakes. On the one
hand, the purchase agreement from Luxempart S.A. as regards the
planned capital measures allows PNE WIND AG to strengthen its capital
resources. On the other hand, PNE WIND AG also considers this to be
confirmation of its attractiveness for professional investors and a
significant, strategic reinforcement of its shareholder and investor
structure. Assuming the full exercise of the conversion rights under
the convertible bonds, which Luxempart intends to acquire,
Luxempart´s planned future investment in PNE WIND AG will amount to
about 15 % of the nomial capital. Under defined conditions, Luxempart
has agreed to a holding period for the shares and convertible bonds
of up to 3 years. It is planned that the company´s association with
Luxempart S.A. should soon also be reflected in the structure of the
supervisory board by taking 2 mandates.

The bonds are offered at first to the existing shareholders for
subscription at a ratio of 151:1 at a purchase price amounting to the
nominal value of EUR100 per loan and each contain the conversion
right in 45.45 shares of the PNE WIND AG, which corresponds to a
conversion price of EUR2.20 per share. The interest rate will be 6.6%
p.a. The new shares from authorized capital are offered to the
existing shareholders at a ratio of 36:1 at a purchase price of
EUR2.00 per share.

The benefit period is expected to begin on 27th May 2010 and is
expected run to 10th June 2010 (both inclusive). Trading of
subscription rights is not planned. Bonds which are not taken by
shareholders or Luxempart S.A. should be offered to selected
institutional investors by means of an international private
placement.

Should the capital increase be placed in its entirety, the share
capital of the company would increase to up to EUR45,774.966.
Moreover, if the convertible loan was placed in full and with the
increase in capital, the company would receive a inflow of funds of
approx. EUR32.0 million.

Both capital measures aim to finance the further growth of the
internationally active PNE WIND AG. Through the planned inflow of
funds, the company wants to obtain additional financial flexibility
to accelerate its expansion strategy. This transaction is to be
accompanied by Close Brothers Seydler Bank AG, Frankfurt am Main,
which monitors the transaction as the Sole Lead Manager and the Sole
Bookrunner and VEM Aktienbank AG, Munich, as paying agent.

end of ad-hoc-announcement ==========================================
====================================== Commentary text:

“With Luxempart, we have been able to win over a solid financial
investor, which will accompany our firm with great expertise in the
future, along with two new members on the supervisory board. We are
looking forward to a long-lasting and cooperative working together,”
explains Martin Billhardt, Chairman of PNE WIND AG. He describes the
use of the financial resources in further detail: “We want to
increase investment in the development and project planning of wind
farm developments both onshore and offshore. Our project pipeline is
well-filled and we are planning to expand this further, particularly
on an international level.” The money from the planned capital
measures should push the financing of wind farms which are waiting to
be implemented at home and aborad. “We promise to speed up the growth
of PNE WIND AG through these two measures,” adds Martin Billhardt.

PNE WIND AG is already expecting the construction work of its first
projects abroad to begin in the coming year. In addition, the company
is currently investing in the technical development of two offshore
wind farm projects which have already been approved in order to carry
out the construction preparations for these quickly. Finally, the
company is developing numerous other wind farm projects at home and
abroad, including in the USA, Canada, Great Britain, Turkey and
Romania. As is normally the case in project business, this is
connected with investment in project development.

Martin Billhardt explains more: “We have constantly increased the
number of projects we have handled in the past years. With current
capital funds of over 43 percent, we are in a very stable financial
situation. We want to increasingly rely on this good initial
situation in the future and to continue to be active and flexible on
the market.“

end of announcement euro adhoc
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ots Originaltext: PNE Wind AG
Im Internet recherchierbar: http://www.presseportal.de

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, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade