DGAP-Adhoc: EVN AG: Ad-hoc announcement: Walsum 10 power plant/commencement of legal action

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| Source: EQS Group AG
EVN AG  / Key word(s): Legal Matter

09.12.2013 10:46

Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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EVN AG, as shareholder of a special purpose entity for the construction of
the power plant Walsum 10, in which EVN AG is an indirect 49% shareholder,
today decided to consent to commence legal action against the general
contracting consortium, Hitachi Ltd and Hitachi Power Europe GmbH, and, in
this regard, to institute arbitration proceedings against the consortium
and a court action against an insurer. The claims to be pursued are based
on damages suffered by the special purpose entity on account of delays in
completing the construction of the power plant Walsum 10 and include
liquidated damages for delay, additional costs due to delay, pre-financed
repair costs and damages resulting from a loss of CO2 allocation, as well
as claims against an insurer. The amount of damages claimed by the parties
ahead of the arbitration proceedings totalled approximately EUR 600m,
though the details and scope thereof are to be determined in the course of
the arbitration proceedings being pursued. The consent of the majority
stakeholder to the pursuit of the claims is expected in the next few days.

Maria Enzersdorf, on 9 December 2013




LEGAL NOTICE

THIS AD-HOC ANNOUNCEMENT CONSTITUTES NEITHER AN OFFER TO SELL NOR A
SOLICITATION TO BUY ANY SECURITIES OF EVN AG.

THIS AD-HOC ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR
DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA AND MUST NOT BE
DISTRIBUTED TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED ('SECURITIES ACT')) OR TO PUBLICATIONS
WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS AD-HOC ANNOUNCEMENT
DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO
PURCHASE ANY SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN
AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED,
SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT
REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.


09.12.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      EVN AG
              EVN Platz
              2344 Maria Enzersdorf
              Austria
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:       Wien (Amtlicher Handel / Official Market)
 
End of Announcement                             DGAP News-Service
 
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