◎Western Wind Energy Corp.がBrookfieldの全株即時払い買収提案に反論

AsiaNet 51479

共同JBN 1432 （2012.11.26）

【バンクーバー（カナダ・ブリティッシュコロンビア州）2012年11月26日PRN=共同JBN】Western Wind Energy Corp.取締役会は26日、以下のような声明を公表した。

　TSX.V取引名：WND

　OTCQX取引名：WNDEF

　発行済み株式数：69022637

Western Wind Energy Corp.（以下同社もしくはWestern Wind）（TSX Venture Exchange :WND）（OTCQX:WNDEF）は、Brookfield Renewable Energy Partners L.P. （以下Brookfield）が11月23日に発表したプレスリリースで、1株当たり2.50カナダドルの即時払い現金対価でWestern Windの発行済み普通株式の全株を取得することを提案するとの発表について以下のように対応する。

Western Windは2012年7月30日、同社およびその資産に対する購入者を求めており、同社取締役会が特別委員会を設置したと発表した。同社は2012年8月10日、包括的かつ効率的なオークション手続きを管理、スケジュール化する主財務アドバイザーとしてロスチャイルド（以下Rothschild）・カナダ、共同アドバイザーとしてPI Financial Corp.（以下PI Financial）に依頼したと発表した。

Brookfield の代表者はWestern Windの株式を取得すると提案した数日後同社を訪れ、Brookfieldが他社の提案に対抗する権限を含めた通常取引保護によってBrookfieldに同社を販売するとの双務契約に入る可能性について提起した。Brookfieldがオークション手続きを阻害する可能性があったので、同社は代案としてオークション手続きにBrookfieldも参加するよう招請した。そのような要求に対応するいくつかの試みが行われたにもかかわらず、Brookfieldはほかのオークション参加者が結んだ慣習的な秘密保持・据え置き契約の調印を拒否した。Brookfieldは同社からの直接電話に返答せず、その代わり（オークション）反対者とそのアドバイザーのメンバーとともに2012年9月25日の年次総会（AGM）に出席した。

同社は2012年10月24日、オークション手続きは計画通り進行し、2回にわたる非常に広範なデューデリジェンスが行われるとともに、委任状争奪戦によって引き起こされた不確かな状態に起因してオークション手続きが少なくとも8週間遅れた結果として新たなオークション参加者が増えたと発表した。

同社は第2ラウンドのデューデリジェンス手続きで現在行われているオークション参加者から受け取った当初の意見表明のいくつかは、Brookfieldが提案を意図するものよりかなり大きな価値があることを強調したい。

同社が受け取った当初の関心表明はすべて、正式提案が行われることになるか、あるいは拘束力ある契約にこの時点で入りうる結果になるという何らの保証はない。

受諾者の義務に合わせ、財務・法務アドバイザーとの協議の中で、V・ジョン・ワルドロー（議長）、ロバート・C・ブライス、クラウス・アンドラップ各氏の社外取締役で構成する特別委員会は、正式に行われるならばBrookfieldの提案を尊重し、オークション手続きの結論に従って同社に提案しうるその他選択肢に関して提案することを検討することになる。

同社は、Western Wind株主がこの時点で何ら行動を起こす必要はないことを株主に注意喚起する。同社は発表の内容を考慮し、評価している過程にあり、株主Western Windが発表とBrookfield提案に関して、追って連絡するまで何らの行動も取らないよう強く勧める。

Western Wind EnergyのJeff Ciachurski最高経営責任者（CEO）は「Brookfield提案はあまりにも低価格であるというのが私の見解であり、私は現在提案されているBrookfieldより完全で確かな売買手続きの方が、株主にとってより良い代価を取得するようコミットしている。われわれは透明性があり、かつ完全で健全なオークション手続きにコミットしている。ロスチャイルドは効率、誠実、プロフェッショナリズムを示すまさに一流アドバイザーである。Western Wind株主は、最高の実施の可能性のある最高の入札価格が株主に提案される完璧な手続きを受ける権利がある。株主は販売手続きの結果を最大化する、完全かつ有意義な手続きに賛同している。Brookfield提案は完全な販売手続きに混乱を招いている」と表明する。

▽Western Wind Energy Corp.について

Western Wind Energy Corp.は垂直統合型の再生エネルギー生産会社であり、カリフォルニア、アリゾナ両州に165ネットMWの定格出力を持つ風力、太陽光発電施設を所有、運営している。Western Windはさらに、米国内で太陽光、風力双方の実質的な開発資産を所有している。同社はカナダ・ブリティッシュコロンビア州バンクーバーに本社、アリゾナ州スコッツデール、カリフォルニア州テハチャピに支社がある。Western WindはWND名でトロント証券取引所（TSX）、WNDEF名で米国OTCQXで取引されている。

同社はカリフォルニア州に3つの風力発電施設、アリゾナ州に1つの完全統合風力・太陽光発電施設を所有、運営している。カリフォルニア州の操業中の3つの風力発電施設は、テハチャピに120MW Windstar、4.5MW Windridge両施設、パームスプリング近郊に30MW MESA施設で構成されている。アリゾナ州の施設は、10.5MW Kingman統合太陽光・風力施設である。同社はカリフォルニア州、アリゾナ州、プエルトリコでさらに風力、太陽光発電プロジェクトを開発中である。

取締役会を代表して以下署名

　Jeffrey J. Ciachurski

　最高経営責任者　

TSX Venture Exchange（TSXベンチャー取引所）あるいは（TSX Venture Exchangeに定義されている表現として）そのRegulation Services Provider（規制サービスプロバイダー）のいずれも、このリリースが適正であるかどうかについては責任を負うものではない。

さらに詳しい情報は以下を参照。

　Investor Relations Contact:

　Lawrence Casse

　AlphaEdge

　Tel:  +1-416-992-7227

　Email:  alphaedgeinc@gmail.com

ソース：Western Wind Energy

Western Wind responds to announcement by Brookfield Renewable Energy Partners L.P.

PR51479

VANCOUVER, British Columbia, Nov. 26, 2012 /PRN=KYODO JBN/ --

- TSX.V Symbol: "WND"

- OTCQX Symbol: "WNDEF"

- Issued and Outstanding: 69,022,637

Western Wind Energy Corp. - (the "Company" or "Western Wind") (TSX Venture

Exchange - "WND") (OTCQX - "WNDEF") today responds to a press release issued on

November 23, 2012 by Brookfield Renewable Energy Partners L.P. ("Brookfield"),

which announced Brookfield's intention to make an offer to acquire all of the

outstanding common shares of Western Wind for cash consideration of C$2.50 per

share (the "Brookfield Offer").

On July 30, 2012, the Company announced that it would be seeking a buyer for

the Company and its assets, and that the board of directors of the Company (the

"Board") had established a special committee (the "Special Committee"). On

August 10, 2012, the Company announced that it had engaged Rothschild (Canada)

Inc. ("Rothschild") as its lead financial advisor to manage and structure a

comprehensive and efficient auction process, with PI Financial Corp. ("PI

Financial") engaged as a co-advisor.

Several days after acquiring its interest in the Company, representatives of

Brookfield visited the Company and raised the prospect of the Company entering

into a bilateral agreement to sell the Company to Brookfield with customary

deal protections, including the right of Brookfield to match other offers.  

Rather than have Brookfield potentially stifle the auction process, the Company

instead invited Brookfield to join that process.  Despite several attempts to

accommodate their requests, Brookfield refused to sign a customary

non-disclosure and standstill agreement that was entered into by other auction

participants. Brookfield did not return direct calls from the Company and

subsequently attended the AGM on September 25, 2012 together with members of

the dissidents and their advisors.

On October 24, 2012, the Company announced that the auction process was

progressing as planned, with a limited number of bidders having been invited to

conduct a second round of very extensive due diligence, as well as the addition

of new participants as the proxy battle caused at least 8 weeks of delay in the

auction process due to the uncertainty caused by a proxy battle.

The Company would like to highlight that some of the initial expressions

received from auction participants that are currently conducting due diligence

in the second round of the process, would imply a value significantly greater

than that which Brookfield intends to offer.

There is no guarantee that any of the initial expressions of interest received

by the Company will result in a formal offer being made or a binding agreement

being entered into at this time.

Consistent with its fiduciary duties and in consultation with its financial and

legal advisors, the Special Committee of independent directors comprised of V.

John Wardlow (Chair), Robert C. Bryce and Claus Andrup is to review the

Brookfield Offer, when formally made, and make recommendations to the Board in

respect of the Brookfield Offer and other alternatives available to the Company

upon the conclusion of the auction process.

The Company cautions its shareholders that no action is required by Western

Wind shareholders at this time. The Company is in the process of considering

and evaluating the announcement, and shareholders are urged to take no action

until Western Wind has issued further communication with respect to the

announcement and the Brookfield Offer.

Jeff Ciachurski, CEO of Western Wind Energy states "It is my personal opinion

the Brookfield offer is too low, and I am committed to obtaining a better price

for the shareholders than presently offered by Brookfield vis-a-vis a thorough

sales process. We are committed to a transparent, thorough and robust auction

process.  Rothschild has been nothing short of first class in demonstrating

efficiency, integrity and professionalism.  The Western Wind shareholders

deserve a complete process whereby the highest bids with the greatest

likelihood of execution are submitted to the shareholders.  The shareholders

have voted for a thorough and meaningful process that will maximize the results

of the sales process. The Brookfield offer is disruptive to a thorough sales

process."

ABOUT WESTERN WIND ENERGY CORP.

Western Wind is a vertically integrated renewable energy production company

that owns and operates wind and solar generation facilities with 165 net MW of

rated capacity in production, in the States of California and Arizona.  Western

Wind further owns substantial development assets for both solar and wind energy

in the U.S. The Company is headquartered in Vancouver, BC and has branch

offices in Scottsdale, Arizona and Tehachapi, California.  Western Wind trades

on the TSX Venture Exchange under the symbol "WND", and in the United States on

the OTCQX under the symbol "WNDEF".

The Company owns and operates three wind energy generation facilities in

California, and one fully integrated combined wind and solar energy generation

facility in Arizona.  The three operating wind generation facilities in

California are comprised of the 120MW Windstar, the 4.5MW Windridge facilities

in Tehachapi, and the 30MW Mesa wind generation facility near Palm Springs.  

The facility in Arizona is the Company's 10.5MW Kingman integrated solar and

wind facility.  The Company is further developing wind and solar energy

projects in California, Arizona, and Puerto Rico.

ON BEHALF OF THE BOARD OF DIRECTORS

"SIGNED"

Jeffrey J. Ciachurski

President & Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that

term is defined in the policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains certain statements that may be considered

"forward-looking statements, including the outcome of initial expressions of

interest received from, and the results of due diligence investigations of,

participants engaged in the Company's sale process, the likelihood of a formal

purchase offer being made by prospective purchaser and, in the event the

Company enters into a definitive sale agreement with a prospective purchaser,  

the consummation of the sale transaction and the value to shareholders of such

a transaction. Forward looking statements are statements that are not

historical facts and are generally, but not always, identified by the words

"expects", "plans", "anticipates", "believes", "intends", "estimates",

"projects", "potential" and similar expressions, or that events or conditions

"will", "would", "may", "could" or "should" occur. Although Western Wind

believes the expectations expressed in the forward-looking statements are based

on reasonable assumptions (including that the Company is able to successfully

identify a prospective purchaser in connection with its previously-announced

sales process, that it is able to successfully negotiate, settle the terms of

and enter into a definitive agreement in respect of such sale and that it is

able to satisfy all conditions to the completion of the sale including receipt

of all applicable regulatory approvals including corporate, governmental and

regulatory approvals), such statements are not guarantees of future performance

and actual results may differ materially from those contained in forward

looking statements. Forward looking statements are based on the beliefs,

estimates and opinions of Western Wind's management on the date the statements

are made. Western Wind undertakes no obligation to update these forward-looking

statements in the event that management's beliefs, estimates or opinions, or

other factors, should change, except as required by law.

For further information:

Investor Relations Contact:

Lawrence Casse

AlphaEdge

Tel:  +1-416-992-7227

Email:  alphaedgeinc@gmail.com

(WND. WNDEF)

SOURCE: Western Wind Energy