DGAP-News: CHORUS Clean Energy AG / Key word(s): Merger/Statement CHORUS Clean Energy AG: Management Board and Supervisory Board welcome takeover offer from Capital Stage AG 04.08.2016 / 09:36 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE CHORUS Clean Energy AG: Management Board and Supervisory Board welcome takeover offer from Capital Stage AG Neubiberg/Munich, August 4, 2016 - The Management Board and Supervisory Board of CHORUS Clean Energy AG ("CHORUS") published their statement pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) following their detailed examination of the public exchange offer from Capital Stage AG ("Capital Stage"). In it, the members of both boards are of the opinion that the offer and the objectives connected with it are in the best interest of the company, its shareholders and employees. They therefore recommend shareholders to accept the offer. Capital Stage published the offer document for its public exchange offer to acquire all outstanding shares of CHORUS Clean Energy AG on July 28, 2016. CHORUS shareholders can exchange three (3) CHORUS shares for five (5) Capital Stage shares. The implied offer price amounts to 11.50 Euros* per CHORUS share, which corresponds to an attractive premium of 36 percent**. The Management and Supervisory Board of CHORUS affirm in their statement that the compensation offered is appropriate both in terms of the liquidity of the Capital Stage share and the amount of compensation offered. Alongside of their own analysis, the company obtained a fairness opinion to assess the appropriateness of the offer from a financial perspective. Members of the Management Board and Chairman of the Supervisory Board, company founder and largest CHORUS shareholder, Peter Heidecker, have already tendered their stake, which amounts to roughly 15 percent of all CHORUS shares, for shares in Capital Stage. The statement is available for download on the company website at www.chorus.de >Investor Relations >Public Takeover Offer of Capital Stage AG. About CHORUS CHORUS Group was founded in 1998 and operates 90 solar and wind parks with a capacity of more than 485 megawatts in seven European countries. With a broadly diversified portfolio, the company generates stable, dependable and sustainable returns. For professional investors, CHORUS offers investment opportunities in power plants that generate renewable energy. CHORUS Clean Energy AG covers the entire investment cycle - from asset sourcing via financial and legal due diligence to monitoring and divestment. ______________________ * Based on the three-month volume weighted average price (VWAP) of EUR 6.90 per Capital Stage share as of May 29, 2016, before the announcement of the takeover offer. ** Based on the three-month VWAP of EUR 8.48 per CHORUS share as of May 29, 2016, before the announcement of the takeover offer. Contact: Stephan Castenholz (Investor Relations) CHORUS Clean Energy AG Tel.: +49 (0) 89 / 442 30 60 - 0 Fax: +49 (0) 89 / 442 30 60 - 11 E-mail: [email protected] --------------------------------------------------------------------------- 04.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: CHORUS Clean Energy AG Prof.-Messerschmitt-Straße 3 85579 Neubiberg / Munich Germany Phone: +49 (0)89 442 30 60 - 0 Fax: +49 (0)89 442 30 60 - 11 E-mail: [email protected] Internet: www.chorus-gruppe.de ISIN: DE000A12UL56 WKN: A12UL5 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 489337 04.08.2016