PHOENIX (PHO): Photon Energy announces the acquisition of 70% of a 700 KWp project in Slovakia - raport 45

The Management Board of Photon Energy on 5 August 2010 announces the acquisition of a 70% equity stake in ATS Energy s.r.o. from GeVeDE s.r.o. ATS Energy s.r.o. holds the project rights to a 700 KWp photovoltaic project in the municipality of Blatné na Ostrove. The total consideration for the equivalent of 0.49 MWp project rights is EUR 196,000 (CZK 4.856 million, PLN 781,194). The remaining 30% of ATS Energy s.r.o. is owned by BREWIA s.r.o.

The project is prepared for immediate construction. Photon Energy intends to realize the project for its proprietary portfolio and to obtain grid-connection in 2010Q4.

Photon Energy and its board members are unrelated to the principals of GeVeDe s.r.o. and BREWIA, s.r.o.

Legal basis: § 3 ust.2 point no.2 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 "Current and Periodical Information in the Alternative Trading System"

Osoby reprezentujące spółkę:
Michal Gärtner - Chairman of the Board of Directors
Georg Hotar - Vice-chairman of the Board of Directors