EANS-Adhoc: The Stade District Court dismisses entirely the action against PNE WIND AG with an amount in dispute of EUR 54.28 million in connection with the sale of the stake in SSP Technology A/S

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.

Company Information/Action dismissed


Cuxhaven, 7th October 2010 - The Stade District Court has today dismissed the action of SSP Technology ApS, a company of the VENTIZZ-Group, which was directed at the reversal of the sale of the majority stake in SSP Technology A/S held by PNE WIND AG until 2008 against re-payment of the purchase price of approx. EUR 34.54 million and an additional reimbursement of expenses in the amount of EUR 19.47 million. By dismissing the action, the Stade District Court has also rejected the alternative claim for a payment of approx. EUR 8.64 million for an alleged breach of a warranty relating to SSP Technology A/S´s accounts agreed in the share purchase agreement. The commencement of this action was made public by PNE WIND AG in the ad-hoc-notification dated 16th October 2009.

The reasons for the judgment are not jet available to PNE WIND AG. The plaintiff can appeal against this judgment before the Celle Appellate Court.

end of announcement                               euro adhoc

Further inquiry note:

Presse- und Öffentlichkeitsarbeit
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Branche: Alternative energy
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

Original-Content von: PNE WIND AG, übermittelt durch news aktuell

Weitere Meldungen: PNE WIND AG

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