PNE Wind : AGM approves dividend increase

Cuxhaven, June 4, 2014 - The wind farm project developer PNE WIND AG decided at today's Annual General Meeting to increase the dividend again. The shareholders overwhelmingly voted in favor of the proposal of the Management Board and Supervisory Board to distribute a dividend of euro 0.10 and a special dividend of euro 0.05 per ordinary share. In the previous year, euro 0.08 plus euro 0.02 per ordinary share was distributed.

"2013 was the most successful year so far in our company's history and was concluded with record earnings. With the acquisition of WKN AG and the placement of our corporate bond, we have taken important steps to develop the PNE WIND Groups on and offshore business activities, commented Martin Billhardt CEO of PNE WIND AG.

The retained earnings, which is relevant for the basis of the dividend, of PNE WIND AG (HGB accounting standards) increased to approx. euro 67.6 million with a net income of euro 36.6 million being reported during the financial year 2013. Of the retained earnings, approx. euro 8.3 million will be distributed. The remaining amount of approx. euro 59.3 million will be carried forward to the new account, as proposed by the Management Board and the Supervisory Board and approved by a large majority.

The terms of office for the Supervisory Board members Rafael Vazquez Gonzalez, JUDr. Olaf Aden and Dr. Christian Rolfs ended at the end of today's AGM. The Management Board and Supervisory Board of PNE WIND AG would like to express their gratitude to them for their commitment and the know-how which they contributed. Newly elected to the Supervisory Board was Volker Friedrichsen, who currently holds over the Volker Friedrichsen Beteiligungs-GmbH approx. 20 percent of the PNE WIND AG shares, and Astrid Zielke, an attorney of law, and Peter Baron von le Fort, an auditor. The terms of office of the newly elected Supervisory Board members ends with the Annual General Meeting taking place in 2016.

The shareholders also agreed to discharge the Management Board with a clear majority of over 99 percent. The shareholders voted against discharging the Supervisory Board.