Greentech Energy Systems A/S submits the prospectus to Spanish stock market authorities for the acquisition of 100% of Fersa Energías Renovables

Greentech Energy Systems A/S 

11.05.2012 19:47

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                                                         Copenhagen, 11 May 2012

                        Company Announcement No 13/2012

Greentech Energy Systems A/S ('Greentech') submits the prospectus to Spanish
stock market authorities ('CNMV') for the acquisition of 100% of Fersa Energías
Renovables ('Fersa') 

  -- The offer is being made for 40 cents (euro) per share.
  -- The offer is conditional upon acceptance by shareholders representing more
     than 50% of Fersa's share capital.

As stated in Company Announcement 10/2012 of 13 April 2012, Greentech has
announced a conditional voluntary cash tender offer on all the ordinary shares
of Fersa. Today Greentech submitted its prospectus to the CNMV for its
voluntary Public Offer of Acquisition of 100% of Fersa.  Greentech is offering
EUR 0.40 in cash for each Fersa share. 

By submitting the prospectus and the rest of the legal documentation required,
Greentech requests that regulator approve its offer for the Spanish renewable
energy company, as the final step before opening the acceptance period. 

The goal of Greentech with this transaction is to create a leading European
group among independent renewable energy generators, with installed capacity of
approximately 600 MW, and a pipeline of more than 700MW in different renewable
technologies.  Greentech's strategic plan forecasts reaching 1GW of installed
capacity by the close of 2013. 

The new group will have income of approximately EUR 120 million and EBITDA of
around EUR 80 million.  In addition, it will have an asset portfolio with
attractive geographic diversity with a presence in Spain, Italy, Poland, India,
Denmark, Germany, Norway the Balkans and France. 

Conditions of the Offer

The main characteristics and conditions of the offer are those that were
communicated in Company Announcement 10/2012. Greentech confirms and ratifies
in all its terms the information and characteristics of the offer contained in
the Initial Announcement, except for the condition regarding maintenance of the
ownership of the projects in Fersa. This condition has been deleted despite the
fact that Greentech still considers it essential that Fersa maintains the
ownership and economical rights of specific projects held by Fersa. 

Consequently it is expressly stated that the offer is exclusively contingent
upon acceptance by shareholders representing at least 70.001.890 shares of
Fersa, which represents more than 50% of Fersa's voting rights. 

 Next step

Once the CNMV approves this voluntary cash tender offer, Greentech, would
publish the approval with the relevant terms of its offer and will make
available the tender offer prospectus. The acceptance period of the tender
offer, according to Spanish law, will last a minimum of 15 days and a maximum
of 70 days, to be decided by Greentech. 


The Board of Directors



                                        For further information, please contact:
              Sigieri Diaz della Vittoria Pallavicini, CEO, tel: +45 33 36 42 02
Peter Høstgaard-Jensen, Chairman of the Board of Directors, tel: +45 40 10 88 71

                                      -oOo-

The Offer is made solely in the Spanish market, the only one in which the
shares of Fersa are listed. 

This announcement and its content shall not mean the launching or diffusion of
the Offer in jurisdictions or territories other than the jurisdiction expressly
provided. Consequently, this announcement will not be published, nor will be
distributed in any other way or sent to jurisdictions or territories in which
the Offer could be considered illegal or where the filing of additional
documentation is required, and the persons who may receive it may not
distribute it or send it to any such jurisdictions or territories. In
particular, this announcement will not be distributed through the postal system
of the United States of America, or through any other form or mean sent or
distributed in or to the United States of America. This announcement is not an
offer, nor constitutes a selling offer, nor a request or offer for the
acquisition of securities in the United States of America.
News Source: NASDAQ OMX



11.05.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Greentech Energy Systems A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010240514
WKN:          
 
End of Announcement                             DGAP News-Service
 
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