THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN AND AUSTRALIA.
Antwerp, Belgium, 14 May, 2008 – Thenergo (the “Company”), listed on Alternext, Paris (Ticker: ALTHE) since 14 June 2007, is planning to raise new funds through a public offering (the “Offering”) in Belgium and a private placement with institutional investors in Belgium and in Europe and intends to apply for admission of its shares to trade on Euronext Brussels.
Thenergo is an international renewable energy company specialized in decentralized generation of heat and electricity, supplying industrial partners, third party customers and external power exchanges. The Company is positioned as a multi-fuel green utility company, developing and operating an energy network using feedstocks such as biogas, natural gas, bio-oils, wood and secondary fuels. Thenergo is a one-stop provider of innovative, competitive and proven renewable energy solutions applying in-depth engineering and energy management capabilities from initial concept design through to the final selling of electricity.
The Company works with agricultural, industrial and public partners to design, engineer, construct operate and finance renewable energy projects. Thenergo’s renewable energy value chain offers tailor-made energy solutions to its customers in the 1MWe to 50MWe project range.
Over the financial year 2007, Thenergo reported consolidated revenues of €20.8 million, up from €3.7 million in 2006. On the same basis, it reported a recurring EBITDA of €2.5 million as compared to €0.4 million in 2006, while profit amounted to €0.9 million in 2007 up from €0.1 million in 2006. The full impact of the Leysen acquisition (September 2007) and tse AG (January 2008) will be reflected in the 2008 figures.
Thenergo intends to use the net proceeds from the issue of the shares primarily to finance its organic and non-organic growth. The Company has a significant portfolio of new projects in its pipeline. Each of these projects is structured in separate project companies, whereby they are usually financed with a limited equity injection (around 20%) and a significant bank debt or external debt amount. The equity injections are provided by the Company or one of its subsidiaries (and its partners when applicable).
Besides this organic growth, Thenergo is also looking to further expand its business through strategic acquisitions in Europe. Expansion in its target markets is an important driver of the Company’s strategy going forward.
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This announcement is not an offer to sell nor a solicitation of an offer to purchase shares. Investors should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the prospectus (“the Prospectus”) to be published by the Company in connection with the offering. The Prospectus has been submitted to the CBFA for approval and is expected to be available in due course at the branches of the financial intermediaries involved in the offering.
Neither this announcement nor any copy of it may be taken into the United States of America, Canada, Japan or Australia or distributed or published, directly or indirectly, in the United States of America, Canada, Japan or Australia. Any failure to comply with this restriction may constitute a violation of US, Canadian, Japanese or Australian securities law. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States or to or for the benefit of US persons (as such term is defined in Regulation S pursuant to the Securities Act) unless they are registered pursuant to the Securities Act or pursuant to an available exemption therefrom. No public offering of securities of Thenergo NV is being made in the United States of America.
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Based in Antwerp, Belgium, Thenergo is a fast growing, fully integrated and independent developer and operator of sustainable energy projects using biogas, natural gas, bio-oil, woody biomass and secondary fuels.
Thenergo creates value for its partners and shareholders as a one-stop provider of sustainable energy solutions, transforming clean and renewable fuels into electricity and heat.
Since 14 June 2007, Thenergo has been listed on Alternext, Paris. (Ticker: ALTHE).
For more information, please contact:
Christophe Van Nevel, Chief Financial Officer
Tel + 32 3 292 97 05
Graham Fairbank, Head of Communications
Tel + 32 3 292 97 01
Gateway House, Brusselstraat 59 – B-2018 Antwerp – Belgium
Avenue Louise 505, b2 – B-1050 Brussels – Belgium