DGAP-News

Capital Stage confirms forecast for FY 2016 after strong first half-year - Seite 2

acquisitions. As a result of the acquisition of two further wind parks from
Bremer Energiekontor AG in July and August, the total generation capacity
in the wind parks segment increased to close to 140 MW. "Both current and
future expectations regarding the economic conditions offer an ideal
environment for continued qualitative growth", says Prof. Dr. Maubach. "In
the coming weeks and months, we intend to further strengthen our portfolio
through additional acquisitions."

Capital increase

To finance its growth strategy, in April, Capital Stage AG increased its
share capital by close to 10% of the existing authorised capital,
generating gross proceeds of almost EUR 50 million.

Takeover offer for CHORUS Clean Energy AG

At the end of May 2016, Capital Stage AG announced a takeover offer for
CHORUS Clean Energy AG. The respective takeover offer document was
published on 28 July 2016. Since, CHORUS shareholders have had the
opportunity to exchange their CHORUS shares for Capital Stage shares at a
ratio of three (3) CHORUS shares for five (5) Capital Stage shares. The
term for acceptance ends on 16 September 2016. The merger would result in
one of the leading independent operators of solar and wind parks in Europe.

"We expect the consolidation in our industry to intensify notably in the
medium term. Today already, the merger makes us an important competitor,
also by international standards, benefiting from excellent growth prospects
and many strategic advantages", comments Prof. Dr. Maubach. "The takeover
strengthens the market position, increases the efficiency and optimises the
risk profile of our company. Moreover, it releases considerable value
creation potential and improves the liquidity of the share. This also
greatly benefits our shareholders."

At the Extraordinary General Meeting on 8 July 2016, the vast majority of
the shareholders of Capital Stage AG voted for the shared future of the two
companies. Also on the part of CHORUS Clean Energy AG, there is great
support: As of 18 August more than 21% of all CHORUS shares had been
submitted for exchange for Capital Stage shares - including the CHORUS
shares held by the CHORUS Management Board members and the Supervisory
Board Chairman, company founder and largest CHORUS shareholder, Peter
Heidecker. "The current acceptance ratio makes us confident that the merger
will be successful", emphasizes Prof. Dr. Maubach.

Positive outlook

In spite of the effects of the meteorological conditions, which were below
the long-term average, the Management Board has again confirmed the