DGAP-News: GLOBAL ECOPOWER develops in wind and restructures its balance sheet
(firmenpresse) - DGAP-News: Global EcoPower S. A. / Key word(s): Strategic Company
Decision/Capital Reorganisation
GLOBAL ECOPOWER develops in wind and restructures its balance sheet
10.07.2012 / 09:00
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GLOBAL ECOPOWER develops in wind and restructures its balance sheet.
Global EcoPower (GEP), based in Aix-en-Provence and building power plants
using renewable energy, develops its activities in the wind sector and
operates a financial restructuring.
Jean Marie Santander, CEO: 'After three years devoted to structure a new
company dedicated to building power plants, Global EcoPower has already
proved its potential with a first significant fiscal year in 2011. The
first steps of the company were entirely and exclusively dedicated to the
photovoltaic business. Since beginning of 2012, Global EcoPower has decided
to build wind farms in France on behalf of its clients or for its own
account. A new story begins, strongly influenced by the experience and
expertise of its founders. '
During the Shareholders' Meeting held on June 29th, 2012, GEP has obtained
the unanimous vote for the approval of the 2011 accounts and the agreement
on the capital restructuring. The operation consists in:
* increasing the capital by incorporating reserves,
* reducing the nominal value of the share,
* reducing the number of shares and increasing the nominal value
The Board has also received several delegations of authority for the
purpose of organizing:
* one or more capital increases reserved to existing shareholders,
* one or more capital increases offered without preferential subscription
rights
* two capital increases in the limit of EUR 1,242,974 in favor of two
entities,
* the issuance of a convertible bond for a maximum of EUR 4,500,000 in
favor of qualified investors
The shareholders' meeting also voted with a majority of 97.34% of
participants, two delegations of authority for the Board to create and
assign warrants and bonus shares to employees and management.
At this meeting, shareholders represented 67.05% of the share capital.
Given the uncertainties in the photovoltaic sector in France, following
the regulatory changes made during 2011, GEP has decided to start a new
activity in the wind sector. GEP's founders own widely recognized
experience in this sector, acquired during the time they managed the
company Theolia.
On 9th July, 2012, an agreement was signed with the Danish developer Global
Wind Power and the German investor Leonidas Associates which will result in
the turnkey construction by GEP of a wind farm of 22 MW, located in the
department of Marne, with commissioning in 2013.
GEP is currently negotiating the acquisition of additional wind projects
building rights with different developers.
Philippe Perret, EVP: 'The balance sheet restructuring will allow our group
to start its activities in the wind sector with solid foundations. The
turnkey construction of a first project with an installed capacity of
22MWp, on behalf of the German fund Leonidas Associates, materializes the
first realization of this new challenge. '
During fiscal year 2011, GEP has designed and built a solar power plant, on
behalf of Leonidas Associates, consisting of 48 286 m²of greenhouses. Part
of the roof is built with solar panels representing an installed capacity
of 3.4 MWp. The final delivery will occur during fiscal year 2012. A farmer
grows berries inside the greenhouses and produces different varieties of
strawberries and raspberries.
GEP has also assisted in 2011 the investor Leonidas Associates for the
construction of a ground-based photovoltaic plant of 5.03 MWp installed
capacity, designed by GEP.
The success of these two projects has forged strong relationships between
GEP and Leonidas Associates, so that both groups are now working together
in the wind sector in France, Leonidas Associates as final investor and GEP
as turnkey operator.
Contact : Global EcoPower
M. Philippe Perret, EVP - 75, rue Denis Papin -
13857 Aix en Provence Cedex 3.
www.global-ecopower.com
End of Corporate News
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Datum: 10.07.2012 - 09:00 Uhr
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