DGAP-Adhoc: EVN AG: EVN informs the Republic of Macedonia to contemplate the initiation of arbitration proceedings under applicable Bilateral Investment Treaties

EVN AG / Legal Matter/Legal Matter

21.04.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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EVN today informed the Republic of Macedonia that it is contemplating to
initiate arbitration proceedings according to the 'Treaty between the
Republic of Austria and the Republic of Macedonia on the Promotion and
Protection of Investments' and the 'Energy Charter' in order to protect its
investment in connection with the acquisition of 90% of the shares of EVN
Macedonia AD, the only electricity distribution and supply company. The
reasons for informing the Republic of Macedonia of contemplating to
initiate arbitration proceedings are due to various actions taken by the
Republic of Macedonia and other public-sector entities against the EVN
Group relating to EVN's activities in the Republic of Macedonia. In
particular, this relates to claims for unpaid electricity supply during the
time prior to the privatization (1995-2004) in the amount of up to EUR 93
million plus interest, in relation to which court proceedings have been
initiated against EVN Macedonia AD; such proceedings are contrary to the
share purchase agreement with the Republic of Macedonia. Should these
actions not be terminated immediately, EVN will initiate arbitration
proceedings according to the above-mentioned Treaties for the protection of
its investments in the Republic of Macedonia. The arbitration proceedings
are particularly aimed at ensuring the Republic of Macedonia's compliance
of its obligations under applicable Investment Treaties. In addition, the
initiation of arbitration proceedings against the Republic of Macedonia
also serves as a precautionary measure against the court decision of first
instance relating to the the above-mentioned subject matter.

EVN AG
Head of Corporate Communications
EVN Group

Stefan Zach
EVN Platz
2344 Maria Enzersdorf
phone: +43 2236 200-122 94
fax: +43 2236 200-822 94
mobile: +43 676 810 32 294
stefan.zach@evn.at
www.evn.at 


DGAP 21.04.2009 
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Language:     English
Issuer:       EVN AG
              EVN Platz
              2344 Maria Enzersdorf
              Österreich
Phone:        +43-2236-200-12294
Fax:          +43-2236-200-82294
E-mail:       info@evn.at
Internet:     www.evn.at
ISIN:         AT0000741053
WKN:          074105
Indices:      ATX
Listed:       Foreign Exchange(s) Wien
End of News                                     DGAP News-Service
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