The Supervisory Board of REpower has elected Mr Bertrand Durrande, who is currently a shareholder’s representative for the main shareholder AREVA on the Supervisory Board, as its new Chairman.
AREVA has also undertaken to exercise its subscription rights in full during the capital increase and to subscribe under special terms to additional shares that will not have been subscribed for by other existing shareholders and for which pre-emptive rights have been excluded. Furthermore, REpower’s CEO, Prof. Dr. Fritz Vahrenholt, was given a four-year employment contract running until April 2010, and an option to extend the contract for a further year.