PNE Wind AG convertible bond from 2010 matures

Cuxhaven, Germany - PNE Wind AG has concluded the 6.5% convertible bond issued in 2010 on 31 December 2014.

From the total issuance volume of the convertible bond amounting to EUR 26 million, the vast majority was converted into shares at a conversion price of EUR 2.20. At the maturity date of the bond at the end of 2014, only approx. EUR 1.8 million was not converted into shares and needed to be repaid.

As a result of the conversion of the convertible bonds, the number of PNE WIND AG shares outstanding has increased to 71,974,939 at the end of 2014. Accordingly, the share capital of the Company has increased to EUR 71,974,939.

Martin Billhardt, Chief Executive Officer (CEO) of PNE WIND AG: "The high conversion rate of our convertible bond reflects the confidence our investors have in the future development of PNE WIND AG and our shares. For this trust, we would like to express our gratitude to our shareholders."

Source: IWR Online, 07 Jan 2015