Vestas receives notice of potential lawsuit from Deminor

Today, Vestas Wind Systems A/S (Vestas) has received a collection letter from a Danish law firm acting on behalf of Deminor International SCRL (Deminor).

Deminor states to represent a group of more than 80 private and institutional investors including Commerzbank International Portfolio Management.

The claim is estimated to amount to approx DKK 300m (EUR 40m) and is directed against Vestas and the following former and present members of the Board of Directors and the Executive Management: Bent Erik Carlsen, Jørgen Huno Rasmussen, Jørn Ankær Thomsen, Torsten Erik Rasmussen, Håkan Eriksson, Kurt Anker Nielsen, Freddy Frandsen, Ola Rollén, Ditlev Engel and Henrik Nørremark.

The potential law suit is based on the same arguments as those included in the existing class action lawsuit in the USA, ref. company announcement No. 8/2011 of 21 March 2011.

If the claim is not accepted within 10 days, Deminor is expected to initiate a lawsuit in Denmark.

Vestas has reviewed the claim with its legal and other advisors, and the company believes that the claim is without merit and thus the claim will not be accepted.

Finally, it should be stressed that Deminor’s proposal to carry out a scrutiny of the matters mentioned in the claim, was only supported by 1.5 per cent of the total capital at the Annual General Meeting on 21 March 2013, ref. company announcement No. 9/2013 of 21 March 2013.

Contact details
Vestas Wind Systems A/S, Denmark
Lars Villadsen, Senior Vice President, Investor Relations
Tel.: +45 9730 7201