Alter Energy Group AG
Alter Energy Group AG Signs Definitive Acquisition Agreement
Alter Energy Group AG / Acquisition/Statement Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Zurich Switzerland – February 19, 2008 ALTER ENERGY GROUP AG (AEG) (Frankfurt Stock Exchange Ticker Symbol: 39f) announces that it has signed the Definitive Acquisition Agreement for the purchase of CJSC Kievenergomash (KEM) from Ukraine Energy Acquisition Corp.(UEAC). KEM translates as: Kiev (the city), Energo (Energy) Mash (Machine)or 'Kiev Energy Machine'. UEAC shareholders of record three days prior to the closing date for the acquisition, that accept the sale of KEM, will be receive a dividend of 1 share of AEG for every 3.406 shares of UEAC. The UEAC shares will remain with the existing shareholder. All requested documentation for closing has been provided. Majority shareholder approval is required. All UEAC shareholders will receive a complete Shareholder Information Package with the required documentation for accepting the AEG share dividend distribution. Alexander Chugay, Chairman of KEM and Director of UEAC stated, 'We are extremely pleased to enter the final stage of becoming a wholly owned subsidiary of AEG. As a publicly traded company on the Frankfurt Stock Exchange, we will enjoy greater access to the European capital markets creating value and liquidity for our shareholders. We anticipate that the formal closing will occur in the very near future. We are looking forward to completing the sale of KEM and the subsequent execution of the initial stages of our new business plan.' About AEG: AEG is a Zurich based, publicly traded company active in acquiring Eastern Europe and CIS renewable energy generation companies and facilities as well as energy infrastructure transmission companies and assets. Earlier this month, AEG announced its intent to acquire KEM. This is the first of multiple planned acquisitions as AEG executes its penetration and expansion into these emerging energy markets. About KEM: A UEAC wholly owned subsidiary, KEM is a profitable Ukrainian company with over 13 years in operations, investments and activities in several energy related industries including but not limited to: thermal generation, commercial, residential, industrial and infrastructure electrical systems and services, heating, natural gas pipeline support and services construction. KEM is now diversifying into electricity infrastructure transmission and clean energy generation. For more information please visit www.kem.com.ua. Contact: Investor Relations | info@alterenergygroup.com Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to successfully integrate KEM with the operations of AEG, the Company's current and future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. 25.02.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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