DAX ®13.054,80-0,65%TecDAX ®3.037,12-0,16%Dow Jones27.693,89+0,16%NASDAQ 1008.306,68+0,12%
finanztreff.de

PRESS RELEASE: PNE AG: Board of Management and Supervisory Board of PNE AG recommend the acceptance of the voluntary public takeover offer by Morgan Stanley Infrastructure Partners

| Quelle: Dow Jones Newsw... | Lesedauer etwa 5 min. | Text vorlesen Stop Pause Fortsetzen


DGAP-News: PNE AG / Key word(s): Statement
PNE AG: Board of Management and Supervisory Board of PNE AG recommend the
acceptance of the voluntary public takeover offer by Morgan Stanley
Infrastructure Partners

2019-11-11 / 11:21
The issuer is solely responsible for the content of this announcement.

*Corporate News*

*Board of Management and Supervisory Board of PNE AG recommend the
acceptance of the voluntary public takeover offer by Morgan Stanley
Infrastructure Partners *

*- *Reasoned Statement according to section 27 Takeover Act published

- Total amount of the consideration for shareholders is adequate

- Intentions of the Bidder as the formation of a Strategic Partnership are
positive

_Cuxhaven, 11 November 2019._ Today, the Board of Management and the
Supervisory Board of PNE AG have published their joint reasoned statement in
accordance with section 27 of the German Securities Acquisition and Takeover
Act regarding the voluntary public takeover offer by Photon Management GmbH
to all shareholders of PNE AG. Photon Management GmbH ("Bidder"), an
affiliate of funds managed and advised by Morgan Stanley Infrastructure Inc.
and part of Morgan Stanley's global private infrastructure investment
platform, Morgan Stanley Infrastructure Partners ("MSIP"), announced on
10 October 2019 its intention to make a public takeover offer for PNE AG at
a price of EUR 4.00 per share in cash. Subsequently, it published the
respective offer document on 31 October.

In accordance with their respective own examination performed independently
of one another, the Board of Management and the Supervisory Board believe
that the total amount of the consideration which is based on the offer price
per PNE share is adequate. The consideration in the view of the Board of
Management and the Supervisory Board, appropriately reflects the value of
the Company at the present time - i.e. also taking into account the current
overall regulatory, geopolitical and macro-economic situation. In addition,
the Board of Management and the Supervisory Board consider the intentions of
the Bidder stated in the offer document concerning the Company's future
business operations and in particular the formation of a Strategic
Partnership (as defined in Section 8.1(b) of the offer document) as
positive. The Board of Management and the Supervisory Board therefore
support the Bidder's offer, which they consider to be in the best interest
of the Company. On the basis of the careful review and the explanations made
in its reasoned statement, the Board of Management and the Supervisory Board
recommend that the PNE shareholders accept the offer.

*Orderly process *
Within an orderly process, both the Board of Management and the Supervisory
Board met at all times their duties towards the company, the shareholders of
PNE and further stakeholders to the fullest extent. Neither the Board of
Management nor the Supervisory Board actively invited offers for
shareholders. MSIP has made an offer to the shareholders of PNE. Prior to
this offer, MSIP approached the Board of Management and the Supervisory
Board concerning a potential offer to PNE shareholders. Safeguarding the
interests of both the company and in particular of the shareholders and
further stakeholders, the Board of Management and the Supervisory Board
entered into a dialogue with MSIP in order to negotiate for an as
advantageous takeover offer as possible. On 26 August 2019 PNE confirmed
talks with MSIP about a potential takeover in an ad-hoc release. PNE also
asked for external support in this process from experts specialized in
takeover situations. Within this frame, the Board of Management and the
Supervisory Board set up an orderly process, which included confidential
talks before and after the ad-hoc release with further potential prospective
investors. Furthermore, the Board of Management explored the interest of
various parties, including the companies mentioned in the press following
the ad-hoc release. Overall, these talks did not result in offers competing
with the offer by MSIP.

The fully reasoned statement by the Board of Management and the Supervisory
Board is published on the company's website
https://ir.pne-ag.com/en/share/#section220 [1].

*About 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, the
Company's range of offers 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.

*Contacts for enquiries*

*PNE AG* *PNE AG*
Rainer Heinsohn Christopher Rodler
Corporate Communications Investor Relations
Tel: +49 (0) 4721 718 453 Tel: +49 (0) 40 87933 114
Fax: +49 (0) 4721 718 373 Fax: +49 (0) 4721 718 373
Rainer.Heinsohn(at)pne-ag.com Christopher.Rodler(at)pne-ag.com

2019-11-11 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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
EQS News ID: 909339

End of News DGAP News Service

909339 2019-11-11


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=aa2e15c454cd2ace4c00a6b1db8e01d3&application_id=909339&site_id=vwd&application_name=news


(END) Dow Jones Newswires

November 11, 2019 05:21 ET ( 10:21 GMT)
Werbung

Das könnte Sie auch interessieren

News-Suche

Suchbegriff:

Aktuelle Videos

zur Mediathek
Werbung

Werbung
Diese Seite empfehlenschliessen
Interessant, oder?
Teilen Sie diese Seite auf Facebook oder Twitter
Wenn Sie auf die Teilen-Buttons klicken und sich bei den Betreibern einloggen, werden Daten an den jeweiligen Betreiber übermittelt. Bitte beachten Sie die Datenschutzerklärung.
Aktuelle Umfrageschliessen
Was wünschen Sie sich von der Großen Koalition?
Jetzt abstimmen!
Alle Umfragen ansehen