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One thing was already clear before the 22nd Annual General Meeting: it was time for several ground-breaking decisions with regard to the future of W.E.B. More than 750 shareholders were registered for the Annual General Meeting and voted by independent proxy in the virtual Meeting on May 28.
Chairman of the Supervisory Board Josef Schweighofer addressed the shareholders at 4 pm and gave his usual legal remarks on the Annual General Meeting as well as procedures in the virtual Meeting. Then he handed the virtual floor to the Board of Directors, Frank Dumeier and Michael Trcka, who offered a detailed look back at the year 2020. The new all-time high in electricity production resulted in a record sales revenue of MEUR 106.2.
After the report of the Board of Directors and the presentation of the agenda, the Board of Directors and the Chairman of the Supervisory Board answered the many questions of the shareholders.
After the general debate, the proposed resolutions included particularly relevant points for the future of W.E.B: the election of the Supervisory Board on the one hand, and the implementation of the stock split at a ratio of 1:10 as well as the Board of Director’s authorization for an increase in capital on the other. The shareholders accepted all the proposals of both the Board of Directors and the Supervisory Board: Josef Schweighofer, Stefan Bauer and Martin Zimmermann were confirmed for five more years as the W.E.B Supervisory Board. With a result of 97 per cent in favor, the shareholders agreed to the stock split and capital increase, thereby securing the funding for new power plants and the further growth of W.E.B.
Josef Schweighofer thanked the shareholders for their trust and the W.E.B team for such a smooth virtual Annual General Meeting, even though he also shared his hopes of being able to personally welcome the shareholders of W.E.B next year.
The W.E.B shares are split at a ratio of 1:10, resulting in a nominal value of EUR 10 per share. The emission of young shares (registered shares) against cash contributions would increase the share capital of W.E.B by up to EUR 2,884,530 from currently EUR 28,845,300 to up to EUR 31,729,830. Any further details on how to realize the capital increase will be determined by the W. E.B Board of Directors in coordination with the Supervisory Board. The issue price per share will not fall below EUR 85 using subscription rights or below EUR 95 without the use of subscription rights and may not exceed EUR 105 per share.
The share split will take place in June. The subscription period with subscription rights is planned from September to mid-October; the subscription period without the use of subscription rights is scheduled right afterwards and until November. The W.E.B Board of Directors will explain all the details on the planned capital increase in a series of planned events in August 2021. The dates will soon be posted at www.web.energy/termine.
This message constitutes neither an offer of securities for sale nor a solicitation of an offer to purchase securities by WEB Windenergie AG. It is not intended for release, distribution or publication, directly or indirectly, in whole or in part, into or within the United States, Australia, Canada, Japan or South Africa or any other jurisdiction where it is unlawful to distribute this message. The public offer of shares by WEB Windenergie AG in Austria may only take place after publication of a prospectus prepared in accordance with the provisions under prospectus law. In case of a public offer in Austria, a prospectus will be prepared in accordance with the provisions under prospectus law and, after approval by the Austrian Financial Market Authority, made available at the registered seat of W.E.B at Davidstrasse 1, A-3834 Pfaffenschlag, during regular business hours free of charge. Any decision with regard to investing in shares of WEB Windenergie AG should be exclusively based on such a capital market prospectus.