Nordex AG: Capital increase of EUR 41.46 mn placed in full

Nordex AG has placed its cash capital increase in full and thus success-fully completed the main recapitalization measures. As part of the cash capital increase, a total of 41.46 million shares were subscribed at an is-sue price of EUR 1 per share. The capital reduction and ensuing capital increase were entered in the companies register on March 30, 2005.

Under the terms of the cash capital increase, the CMP and Goldman Sachs investor group acquired roughly 31.45 million shares, with CMP acquiring 20,728,950 and Goldman Sachs taking over 10,728,950 shares. As already stated in the ad hoc bulletin issued on February 21, 2005, the German Federal Supervisory Agency for Financial Services has exempted the investors from the obligation to lodge a compulsory public takeover bid. In the subscription period ending on March 15, 2004, Nordex shareholders subscribed to 10,182,100 shares. Nordex AG’s subscribed capital now stands at EUR 46,845,000, divided into 46,845,000 shares, of which 5,205,000 are old shares.

The last day of trading in the old shares prior to the 10-for-1 capital re-duction is expected on April 8, 2005. The converted and merged old shares are to be relisted on April 11, 2005. The first date of listing for the new shares arising from the cash capital increase is expected on April 21, 2005. The stock market listing prospectus should be available as of April 19, 2005.

The successful cash capital increase means that the conditions for con-tinued bank finance have now also been met. In return for the issue of up to roughly 12 million new shares, the banks will be reducing loan re-ceivables by around EUR 28 million as part of a non-cash capital in-crease over the next few months. New cash and bond facilities of EUR 50 – 60 million are to be made available to Nordex AG by the banks with immediate effect.