DWK Deutsche Wasserkraft AG launches cash capital increase with subscription rights offer

- Public offer for cash capital increase with subscription rights runs from 4 December to 17 December

- A total of 552,116 new shares will be offered at a subscription price of EUR 1.60; the subscription ratio is 4:1

- Emission proceeds are to be used for further strategic growth

- Acquisition of Antares Hydropower by means of a capital increase in kind is still planned

Hamburg, 3 December 2024 – DWK Deutsche Wasserkraft AG (‘DWK’, ISIN: DE000A2AAB74) announces the start of the subscription rights offering of its cash capital increase from authorized capital. Accordingly, the offering period begins on 4 December 2024 (0:00 hours) and ends on 17 December (24:00 hours). During this period, 552,116 new bearer shares will be offered, which can be subscribed to by existing DWK shareholders only at a subscription price of EUR 1.60 (see ad hoc announcement dated 1 October 2024).

The subscription right of shareholders was set at a ratio of 4:1, i.e. four shares held by a shareholder entitle the shareholder to subscribe to one new share. Any new shares not subscribed for on the basis of the subscription right will be offered to existing shareholders willing to subscribe to the subscription offer at the same time as the subscription offer for oversubscription at the fixed subscription price. Furthermore, DWK has already received binding commitments from shareholders of the company, with whom a takeover of all new shares is guaranteed (backlog agreement). The gross issue volume of the transaction is up to EUR 883,385. DWK plans to use the funds from the capital increase to accelerate its further strategic growth.

The cash capital increase with rights offering is in line with the company's strategic repositioning – DWK has positioned itself as an independent hydropower generator in Germany and is focusing on the rapidly growing market for run-of-river power plants in the size segment of up to 10 megawatts in Scandinavia and the DACH region.

DWK is being supported by mwb fairtrade Wertpapierhandelsbank AG in this capital increase.

In addition to the cash capital increase, DWK will also carry out a capital increase of EUR 218,750 against contributions in kind in the coming weeks (see ad hoc announcement dated 1 October 2024). In the course of this, all shares in ANTARES Hydropower Norway AS (‘Antares’) are to be acquired. Antares is owned by the two DWK board members Jan Erik Schulien and Henning Rath and, as a service provider, advises investors on the acquisition, operation and sale of hydroelectric power plants.

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