Rabbalshede Kraft announces rights issue

On the basis of the authorization given by the Annual General Meeting on May 3, 2012, the Board of Rabbalshede Kraft AB (publ) has decided on a new issue of Class B shares with preferential rights for existing shareholders.

Since Rabbalshede Kraft AB was founded in May 2005, extensive work has been carried out on the project planning and development of a broad portfolio comprising wind farms of various sizes. At March 31, 2012, the Company had participated in the commissioning of 48 wind turbines, including 26 wind turbines in four wind farms operated by the Company. The Company has been granted permits for a total of 52 wind turbines, of which 14 are under construction. An additional 244 wind turbines have reached the application phase and a further 119 are at earlier phases. The objective of the offering is to strengthen the Company’s working capital and secure the continued development work and value growth in the project portfolio.

Key facts about the offering

  • Existing shareholders in the Company have a preferential right to subscribe for new shares proportional to the shareholder’s existing shareholding, whereby, each holder of Class A or Class B shares will have the preferential right to subscribe for one (1) new Class B share for every two (2) old shares.
  • The record date for receiving subscription rights is June 7, 2012.
  • The subscription period is June 11 – 25, 2012. Trading in subscription rights will be possible through Alternativa Sweden during the period June 11 – 15, 2012.
  • The offering comprises a maximum of 11,343,966 Class B shares with a subscription price of SEK 10.00 per share.
  • On full subscription, Rabbalshede Kraft AB will raise approximately SEK 113 M, before customary issue expenses.
  • Full subscription of the rights issue will give rise to an increase in the number of shares outstanding in the Company from 22,687,932 to 34,031,898 shares. The offering corresponds to 33.3 percent of the share capital and 26.4 percent of the votes in the Company.

The full terms and conditions, including a description of the Company and the intended use of the proceeds of the offering, are contained in the prospectus that is expected to be published on June 11, 2012. From this date, the prospectus will be available for download from www.rabbalshedekraft.se and www.alternativa.se.

Thomas Linnard, CEO     
Tel. 46 (0)525 - 197 11, 46 (0)706 100 120               
thomas.linnard@rabbalshedekraft.se

Kent Söderström, CFO
Tel. 46 (0)525-197 13, 46 (0)733 307 280
kent.soderstrom@rabbalshedekraft.se

Rabbalshede Kraft AB (publ)
Marknadsvägen 1
SE-457 55 Rabbalshede, Sweden

Telephone 46 (0)525-197 00
E-mail info@rabbalshedekraft.se
www.rabbalshedekraft.se  
Corp. Reg. No. 556681-4652

This is Rabbalshede Kraft
Rabbalshede Kraft AB (publ) is a fast-growing player in wind power with four wind farms in operation, one farm under construction and about 350 wind turbines in the procurement, application or planning phase. Rabbalshede Kraft’s overriding objective is to create value growth for the Company’s shareholders – proprietarily, in partnership with other companies and through the divestment of entire farms and individual wind turbines – by contributing to the commissioning of 250 turbines by 2015. To guarantee the long-term capital requirements that the planned build-out requires, the Company is preparing an application for listing on the NASDAQ OMX Stockholm exchange. Follow the Company’s progress at www.rabbalshedekraft.se

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About Us

Rabbalshede Kraft AB (publ) plans and establishes proprietary land-based wind farms, in collaboration with other players or for divestment whereby the Company is able to offer operating services. Rabbalshede Kraft was formed in 2005 and currently manages 141 wind turbines of which 71 turbines, in the eight wind farms, are in-house. The electricity produced from the Company’s wind farms in operation is sold in the open electricity market, Nord Pool. Follow the Company's progress at www.rabbalshedekraft.se