Arise AB: Appeal Delays Transfer of Stjärnarp Wind Farm
As announced in April, discussions are underway with KumBro Vind AB ('KumBro') concerning the sale of Stjärnarp wind farm, a three-turbine, 5.4 MW capacity wind farm. Arise and KumBro have agreed on the terms of the transfer and that it should take place provided that KumBro's owners, the local authorities in Örebro and Kumla, approve the transfer as well as an amendment to KumBro's articles of association.
The local councils in the two municipalities have now agreed to the transfer as well as the amendment to the articles of association.
However, the amendment has been appealed by a private individual and the matter has been referred to the relevant authority for consideration, which normally takes three to six months.
The transfer can be effected provided that the authority rejects the appeal.
Halmstad 2 July 2014
ARISE AB (publ)
Arise is one of Sweden's leading companies in onshore wind power. Its business concept is to sell electricity generated at the company's own wind turbines. The company's target is to have 1,000 MW of onshore wind power constructed and under management by 2017, of which 500 MW will remain in the ownership of the company. Arise is listed on NASDAQ OMX Stockholm.
The information contained herein constitutes information which Arise AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 14.30 p.m. on 2 July 2014.