Sale of the Company’s Minority Stake in a Romanian Wind Project

The company has sold its minority stake in a ready-to-build wind project in Romania to a local investor. The project in which Saphire was partnering with a Western European investor included the development of a multi-phase 60 + 120 MW wind farm South of Bucharest. The buyer intends to implement the project’s first phase already in 2015. The sale fits into our medium term strategy to optimize the company’s assets base and improve the long term profitability of the group.