Morgan Stanley/Photon Management GmbH is planning preliminary talks with potential interested parties for the acquisition of the shareholding in PNE

Photon Management GmbH, a company controlled by Morgan Stanley, is the largest shareholder in PNE AG. Morgan Stanley has informed the Board of Management of PNE AG that Morgan Stanley and Photon Management GmbH intend to hold preliminary talks with potential interested parties about an acquisition of the entire shareholding held by Photon Management GmbH in the Company.

The Board of Management of PNE AG will support the intended preliminary discussions to the extent permitted by law and in the interest of the Company. If Photon Management GmbH were to sell the entire shareholding to an acquirer, this would entail the submission of a voluntary public takeover offer or a mandatory offer by the acquirer to acquire all shares not already held by the acquirer. To the knowledge of the Board of Management, Morgan Stanley has not yet made a decision on the sale of the shareholding. It is not yet predictable whether such a sale will take place and, if so, at what conditions. PNE AG will inform the capital market and the public about the further progress in accordance with the legal requirements.