DGAP-Adhoc
S.A.G. Solarstrom AG: Sale to the Shunfeng-Group now concluded; application for delisting
S.A.G. Solarstrom AG / Key word(s): Delisting
31.10.2014 16:23
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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S.A.G. Solarstrom AG: Sale to the Shunfeng-Group now concluded; application
for delisting
Freiburg i. Br., October 31, 2014. Today, S.A.G. Solarstrom AG i.I. (WKN:
702 100, ISIN: DE0007021008) successfully concluded the sale of the
operative business and the related assets agreed on August 30, 2014 to the
SF Clean Energy Group (SV-PV). The remaining stock market listed company
will receive the sales price of EUR 65 million in the near future. The
payment of the sales price remains subject to the usual price adjustment
mechanisms.
As the sale is now legally binding, S.A.G. Solarstrom AG i.I. has decided
to apply for delisting of the company shares to the regulated market
(General Standard) at the Frankfurt Stock Exchange. In light of the ongoing
insolvency proceedings, this should reduce the administrative effort and
costs associated with the share listing.
In light of the ongoing insolvency proceedings, this should reduce the
administrative effort and costs associated with the share listing. The
delisting is expected to become effective six months after the decision of
the Frankfurt Stock Exchange regarding the application and its publication.
The company's share listing in the open trading segment m:access of the
Munich Stock Exchange is to be terminated shortly.
The remaining stock corporation is therefore to be liquidated during the
development of the insolvency proceedings. Creditors of the corporation can
expect an insolvency quota of almost 50% according to the current status.
However, depending on the actual result, the insolvency quota might also be
considerably below or above this value.
Shareholders will not receive return flows from the winding down of the
company.
Following the successful conclusion of the transferring reorganization, the
operative business of the S.A.G. Solarstrom Group will be continued with
all business areas. In future, the new company group will trade under the
name of S.A.G. Solar GmbH & Co. KG. All of the jobs will be maintained. The
SF Clean Energy Group has offered the management of S.A.G. Solarstrom AG
i.I. to continue to manage the new S.A.G. Solar Group. Oliver Günther,
board member responsible for sales to date, has decided to decline the
for delisting
Freiburg i. Br., October 31, 2014. Today, S.A.G. Solarstrom AG i.I. (WKN:
702 100, ISIN: DE0007021008) successfully concluded the sale of the
operative business and the related assets agreed on August 30, 2014 to the
SF Clean Energy Group (SV-PV). The remaining stock market listed company
will receive the sales price of EUR 65 million in the near future. The
payment of the sales price remains subject to the usual price adjustment
mechanisms.
As the sale is now legally binding, S.A.G. Solarstrom AG i.I. has decided
to apply for delisting of the company shares to the regulated market
(General Standard) at the Frankfurt Stock Exchange. In light of the ongoing
insolvency proceedings, this should reduce the administrative effort and
costs associated with the share listing.
In light of the ongoing insolvency proceedings, this should reduce the
administrative effort and costs associated with the share listing. The
delisting is expected to become effective six months after the decision of
the Frankfurt Stock Exchange regarding the application and its publication.
The company's share listing in the open trading segment m:access of the
Munich Stock Exchange is to be terminated shortly.
The remaining stock corporation is therefore to be liquidated during the
development of the insolvency proceedings. Creditors of the corporation can
expect an insolvency quota of almost 50% according to the current status.
However, depending on the actual result, the insolvency quota might also be
considerably below or above this value.
Shareholders will not receive return flows from the winding down of the
company.
Following the successful conclusion of the transferring reorganization, the
operative business of the S.A.G. Solarstrom Group will be continued with
all business areas. In future, the new company group will trade under the
name of S.A.G. Solar GmbH & Co. KG. All of the jobs will be maintained. The
SF Clean Energy Group has offered the management of S.A.G. Solarstrom AG
i.I. to continue to manage the new S.A.G. Solar Group. Oliver Günther,
board member responsible for sales to date, has decided to decline the
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