Pacifico Renewables Yield AG successfully completes capital increase to finance further growth

December 2, 2020

Gruenwald, December 2, 2020 – Yesterday, Pacifico Renewables Yield AG (ISIN: DE000A2YN371) (the “Company”) successfully implemented its second capital increase in 2020 with gross proceeds totaling EUR 40.7 million. In a rights issue and a subsequent rump placement, which was significantly oversubscribed and closed at the upper end of the price range, the Company was able to place a total of 1,379,311 new shares. The Company succeeded in attracting further reputable international investors and expanding its free float. The capital increase enables the further expansion of the Company’s portfolio.

Yesterday, the management board of the Company, with the consent of the supervisory board, resolved to increase the share capital of the Company by EUR 1,379,311,00 to EUR 3,309,766.00 by issuing 1,379,311 new shares as previously resolved by the annual general meeting on August 26, 2020. Existing shareholders subscribed for 1,015,329 new shares of the Company at a subscription price of EUR 29.00. In addition, 363,982 new shares were successfully placed by way of a private placement to institutional investors, which was multiple times oversubscribed, leading to a final price of EUR 31.00 for the rump placement.

This marks the second successful capital increase this year. With the placement of the new shares, the Company was able to attract additional reputable international investors as new shareholders and to further increase its free float. At the same time, the Company’s majority shareholder Pelion Green Future Alpha GmbH[1] underlined its role as strategic anchor shareholder by on the one hand backing the capital increase with a participation of EUR 20.0 million, while on the other hand not fully exercising its subscription rights to facilitate a sizeable rump placement. The registration in the commercial register and the closing of the capital increase are expected within the next few days.

Co-CEO Dr. Martin Siddiqui states: “The successful expansion of our free float is an integral component of the further development of the Company’s share. After two successful growth financings this year, our broadened investor base allows us to look ahead optimistically and strengthens our ambitions to become a leading listed independent power producer in Europe”.

The gross issue proceeds of approximately EUR 40.7 million will be used to further expand the Company’s wind and solar energy portfolio, in particular to refinance a 51.8 MW wind farm portfolio in Poland.

Co-CEO Christoph Strasser added: ”Once again we demonstrated our focus on financial discipline by only raising capital that we can invest imminently.”

Stifel Europe Bank AG and M.M.Warburg & CO (AG & Co.) KGaA acted as Joint Global Coordinators to implement the capital increase. Sullivan & Cromwell LLP acted as legal counsel to the Company.

 

About Pacifico Renewables Yield AG

Pacifico Renewables Yield AG is an independent energy producer listed on the open market of the Dusseldorf Stock Exchange with additional requirements (Primärmarkt) (ISIN: DE000A2YN371) with the aim of building up a gradually growing portfolio of plants for energy generation from renewable sources. With operational wind and photovoltaic power plants spread across Europe, the Company offers a clear and diversified profile with stable and predictable earnings.

 

Disclaimer

This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Canada, Japan or Australia or any other jurisdiction where such announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute an offer of, or a solicitation of an offer to purchase, securities of Pacifico Renewables Yield AG or of any of its subsidiaries. The shares have already been sold.

This press release may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Pacifico Renewables Yield AG (“forward-looking statements”). Forward-looking statements can be identified by words such as “believe”, “estimate”, “anticipate”, “expect”, “intend”, “will”, or “should” and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the Management Board of Pacifico Renewables Yield AG and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. We will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will we reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and we do not assume any obligation to do so. We do not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.

[1] 100% subsidiary of Pelion Green Future GmbH.

 

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