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PNE WIND Group: Annual General Meeting results

DGAP-News: PNE WIND AG / Key word(s): AGM/EGM/Dividend
PNE WIND Group: Annual General Meeting results

25.05.2016 / 18:41
The issuer is solely responsible for the content of this announcement.

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Corporate News

PNE WIND Group: Annual General Meeting results

- Dividend of euro 0.04 per ordinary share to be distributed

- Three Supervisory Board members elected

Cuxhaven, May 25, 2016 - The Annual General Meeting of the wind project
developer PNE WIND AG elected today three members to the Supervisory Board
and voted in favor to distribute a dividend.

The shareholders voted with a clear majority in favour of the proposal of
the Management Board and Supervisory Board to distribute a dividend of euro
0.04 per ordinary share. The retained earnings, which is relevant for the
basis of the dividend, of PNE WIND AG (HGB accounting standards) increased
to euro 70.5 million after a net income of euro 10.3 million was reported
for the financial year 2015. From the retained earnings, euro 3.1 million
will be distributed and euro 67.4 million will be carried forward to the
new account.

As proposed by the administration, Dr. Isabella Niklas, Andreas M. Rohardt
and Per Hornung Pedersen were elected to the Supervisory Board. Mr.
Pedersen served as Interim CEO from December 1, 2015 till today's Annual
General Meeting and during this time his Supervisory Board function was
suspended. Markus Lesser, formerly the board member responsible for
operations (COO) will become the new Chief Executive Officer (CEO) of PNE
WIND AG as of May 26, 2016. This decision was taken at a Supervisory Board
meeting in April of this year. At the same time, his contract was extended
until December 31, 2019.

Alexis Fries Chairman of the Supervisory Board of PNE WIND AG commented to
the new CEO appointment, "Markus Lesser has more than 25 years of
experience in the international energy sector. Over the past few years as
COO, he has been driving the operational development of PNE WIND forward
and has proven himself to be a competent manager. Markus Lesser will
continue to pursue the Group's strategic orientation. He has our full
confidence and I look forward to continuing our successful working
relationship which is characterized by mutual appreciation."

The shareholders also voted clearly in favour to give formal approval to
the actions of the Management Board members Per Hornung Pedersen, Markus
Lesser and Jörg Klowat. The shareholders also decided by a clear majority
to give formal approval to the actions of the new Supervisory Board members
(term of office starting October 23, 2015) and on the appointment of