Corporate | 18 August 2009 10:35
COLEXON Energy AG / IPO/Merger
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- Significant increase of the market capitalization of the COLEXON share
- Attractively and visibility of the COLEXON share decisively increased
- Operation of solar power plant provides stability and consistency
Hamburg, August 18, 2009: After the successful takeover of the Renewagy
Group through COLEXON Energy AG, Hamburg (ISIN: DE0005250708), today,
further 12,628,800 COLEXON shares are included in the existing listing at
the Frankfurt stock exchange (Prime Standard segment). The share capital of
COLEXON has tripled to 17,744,557 Euros, after the stock exchange
prospectus for the listing of the new shares has been approved by the
Federal Financial Supervisory Authority on August 13, 2009.
In contrast to the current reports about the crisis of the solar industry
COLEXON follows a business strategy that allows further growth and
advances. Thorsten Preugschas, CEO of COLEXON Energy AG, commented: 'By
acquiring Renewagy, we take on a pioneering role in the solar industry. We
have gained stability by adding the operation of solar power plants to our
existing business portfolio of project development and wholesale. Thus,
with the 'new COLEXON' we are able to present the capital market a business
model with a balanced combination of own investments in solar power plants
and the sale of solar parks to institutional investors.'
In this context, COLEXON benefits from a strong decrease in prices of solar
modules, and for the respective market position, has ideally positioned
itself as an independent project developer and operator of solar power
plants. In opposition to competitors COLEXON is not bound by investments in
solar module manufacturing plants and does not suffer form the current
pressure on the supply side. The COLEXON-group expects not only to realize
an inorganic growth from the takeover but also to grow further on
organically, even in difficult times for the solar industry.
Consequently COLEXON's project business will get further support through
the significantly higher equity capitalization as well as the state
guaranteed cash-flows from the operations. This will allow the company
better access to the capital market. The financing hurdles caused by the
global financial crisis therefore should affect the 'new COLEXON' to a much
lesser extent than other companies.
COLEXON and Renewagy also expect to profit from the qualitative
synergy-effects of the transaction. Tom Larsen, CEO of Renewagy A/S, said:
'COLEXON is one of the leading companies in the planning and development of
large-scale roof-top solar power plants. The core competence of Renewagy
lies within the financing and operation of these plants. By combining our
expertise we are able to offer a wide variety of services along the value
chain of the solar industry.' Hereby the completion of the taking over
process marks an important milestone in COLEXON's development to an
independent solar power producer (IPP).
The management board expects a sustainable strengthening of the COLEXON
share of the takeover. The increase of the liquidity of the share, the more
diversified shareholder basis as well as intensified and more transparent
research coverage provide strong arguments for investors. The management
board of COLEXON will present the new model of COLEXON in the next months
at investor conferences and road shows to win additional investors for the
'new COLEXON'.
About COLEXON Energy AG
The international COLEXON group is one of the leading
manufacturer-independent system integrators in the photovoltaic sector. The
company designs and installs turnkey photovoltaic plants for institutional
and private investors in Germany and abroad. COLEXON is specialized in the
realization of return optimized and large scale photovoltaic projects (from
100 kWp onwards). The target groups of COLEXON are institutional investors
as well as agricultural, industrial and public building owners. COLEXON is
listed in the Prime Standard at the German Stock Exchange in Frankfurt.
About Renewagy A/S
The Danish Renewagy A/S is one of the leading operators of solar power
plants. The company is an Independent Power Producer ('IPP'), specialized
in the identification and investment as well as in the operation of cost
optimized solar power plants. At the end of 2008, Renewagy operated solar
power plants with an accumulated installed rated module power of 43.7 MWp.
Renewagy is a long-standing business partner of the company and holds 6.9 %
of the share capital of COLEXON Energy AG. Renewagy A/S is listed on NASDAQ
OMX Copenhagen and operates out of Virum, Denmark.
Contact COLEXON
Jan Hutterer
COLEXON Energy AG
Große Elbstraße 45
22767 Hamburg
Germany
Tel. +49 (0)40. 28 00 31-100
Fax: +49 (0)40. 28 00 31-101
E-mail: ir@colexon.de
www.colexon.com
COLEXON Energy AG
ISIN: DE0005250708
WKN: 525070
Prime Standard, Regulated Market Frankfurt
18.08.2009 Financial News transmitted by DGAP
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Language: English
Issuer: COLEXON Energy AG
Große Elbstraße 45
22767 Hamburg
Deutschland
Phone: +49(0)40 280031-0
Fax: +49(0)40 280031-101
E-mail: k.friedrich@colexon.de
Internet: www.colexon.de
ISIN: DE0005250708
WKN: 525070
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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