REpower Converts to Societas Europaea (Germany)

At the Annual General Meeting in October 2010, the shareholders of REpower Systems Aktiengesellschaft (Prime Standard, WKN 617703) approved the conversion of the company to a Societas Europaea (SE). Since June 15, 2011, REpower Systems AG has been registered with the Hamburg Registry Court as REpower Systems SE, thus as a corporation under European law.

The change in legal form from a stock corporation to an SE reflects the growing importance of the company’s international and pan-European business activities. “The new legal form will make it easier in the future for REpower to grow in Europe,” says Andreas Nauen, CEO of REpower Systems SE. In addition to Germany, the company installed the most wind turbines in France and Italy in the past year. The UK is also part of REpower’s core European markets. “As an SE, we are also giving formal expression to our increasingly international corporate culture,” Nauen emphasizes.

The conversion to an SE took effect upon registration in the commercial register. The change exclusively affects the parent corporation REpower Systems AG and does not apply to the German and international subsidiaries of the wind turbine manufacturer. All structures established under the AG form, especially contracts and legal relations with REpower, will be continued and remain unaffected with REpower Systems SE.


Source: repower, June 15, 2011