Photon Energy N.V. (WSE: PEN, the ‘Company’ or ‘Photon Energy’)announces its intention to move the listing of its shares from theNew Connect market organized by the Warsaw Stock Exchange('WSE') and Free Market organized by the Prague StockExchange ('PSE') to the main markets of the aforementionedstock exchanges. The Company intends to have the entire issuedshare capital admitted to trading on both main markets('Admission').
The Admission will take place upon the adoption of relevantresolutions authorizing the move to the main markets of the Warsawand Prague Stock Exchanges by the Company’s General Meeting. If theGeneral Meeting consents to the listing of the Company’s shares onthe main markets of the WSE and the PSE, the Company will prepare aprospectus for this purpose, which will be published upon itsapproval by the relevant supervision authority.
Photon Energy shares shall be subsequently listed on theQuotation Board of the Frankfurt Stock Exchange, with the objectivebeing to enable Eurozone investors to trade the Company’sshares without currency risk.
Changing markets will not involve any offering of new orexisting shares. The Company's ticker number in both mainmarkets will remain 'PEN'.
‘Our listings on the New Connect and Free Market of the PSE haveserved us well in accessing capital markets to develop ourintegrated business model and to grow our proprietary portfolio ofphotovoltaic power plants at an opportune time in both the Europeanand Australian markets. Given the solid growth of the business,both financially and operationally, we believe that the listing onthe main market of the WSE is the most appropriate platform for ourfuture development in the context of the dynamic growth of thePolish PV sector and its increasing importance in our strategicplans. With the move to the main markets of the Warsaw and PragueStock Exchanges and the Quotation Board of the Frankfurt StockExchange, we are confident in improving our profile and furtherbroadening our investor base,’ said Georg Hotar, CEO of PhotonEnergy.
Photon Energy is not raising any funds or issuing any new sharesin connection with the Admission. The Company has already securedfinancing for the coming years. In 2019, the Company secured bankfinancing for 15 years, worth EUR 28.3 million for 46 projects inHungary, with a total capacity of 31.5 MWp, after successfullyincreasing its 5-year EUR bond with a 7.75% coupon to EUR 37.5million.
‘This is a testament to the transparency of the company, ourproactive communication with investors and our flawless trackrecord in servicing our quarterly bond coupons since 2013. Webelieve in the importance of access to capital through publicmarkets, and therefore we remain strongly committed to open andpro-active investor relations,’ commented Clemens Wohlmuth, CFO ofPhoton Energy.
Legal note
This announcement does not constitute a prospectus, nor aprospectus-equivalent document. Nothing in this announcementconstitutes or forms part of and should not be construed as anoffer to sell, or the solicitation or invitation of any offer tobuy or subscribe for or underwrite or otherwise acquire, anysecurities of the Company or any member of its group (‘Group’), norshould it or any part of it form the basis of, or be relied on inconnection with, any contract to purchase or subscribe for anysecurities of the Company or any member of its Group, nor shall itor any part of it form the basis of or be relied on in connectionwith any contract or commitment whatsoever, in any jurisdiction,including the United States, in which such offer, solicitation orsale is not permitted. The Company’s shares have not beenregistered under the U.S. Securities Act of 1933, as amended (‘U.S.Securities Act’), and may not be offered or sold in the UnitedStates absent registration under the U.S. Securities Act or anapplicable exemption from the registration requirements of the U.S.Securities Act.
MEDIA CONTACT
Martin Kysly
Photon Energy
T +420 774 810 670
E martin.kysly@photonenergy.com
