Electrawinds SE announced changes to the structure of the board of directors and management team. Mr. Luc Desender will act as chairman of an Executive Committee and will also be responsible for strategy, innovation & technology; and a new CEO, still to be hired, will be appointed.

Electrawinds SE announced that certain of the company's main shareholders and providers of subordinated debt to Electrawinds NV have entered into a Memorandum of Understanding (MoU). This MoU, signed in presence of the company, is still conditional and provides in a plan for, amongst others, the raising of a substantial amount of new equity with new and existing investors, the potential conversion into equity of part of the existing debt of the group and the deleveraging of the group. In connection with the Memorandum of Understanding, Electrawinds NV reached an agreement with its providers of senior debt facilities regarding a conditional extension of these facilities until mid-December 2013. Additionally, agreements have been reached with (i) DG Infra+ on the extension of a subordinated loan which fell due on June 30, 2013, (ii) DG Infra+ and other debt providers (Gimv NV, Gimv XL, Adviesbeheer Gimv XL and PMV) on the capitalization of interest payments until year-end, and (iii) lenders that were willing to make available certain bridge loans (Vlaamse Energieholding for EUR 10 million, FPIM/SPFI for EUR 2.5 million, and Groenkracht CVBA for EUR 1.25 million). The Board of Directors furthermore decided to revise the timing of the contemplated capital increase from the beginning of the third quarter of 2013 towards the end of the third quarter or beginning of the fourth quarter of 2013.