DGAP-Adhoc

Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten: Solar-Fabrik AG to file for insolvency in self administration, Thomas Oberle joining the board

Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten / Key word(s): Insolvency/Change of Personnel

29.01.2015 19:03

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Ad hoc-News on Jan 29, 2015

Solar-Fabrik AG (ISIN: DE0006614712) has decided to file for insolvency in
self administration. The same application will also be prepared for
Solar-Fabrik Wismar GmbH. The goal of the self administration is a
restructuring of Solar-Fabrik AG and Solar-Fabrik Wismar GmbH. The other
companies of Solar-Fabrik Group are not impacted. The applications will be
filed with the Local Court of Freiburg on Feb 02, 2015.

Solar-Fabrik AG has been impacted by low market demand combined with the
corresponding price pressure since the fourth quarter 2014. The company
estimates that this situation is likely to continue over the next couple of
months, generating additional cost pressure. Solar-Fabrik AG wants to use
the instrument of insolvency in self administration for best possible
results in restructuring while the company does not suffer from
overindebtedness and is not insolvent.

Solar-Fabrik introduced short time work schedules due to the weak market in
November 2014. With the prolongation of this situation the company
anticipates a further erosion of its cash reserves and potentially an
insolvency situation due a shortage of liquidity (drohende
Zahlungsunfähgigkeit) could occur in the course of the 2nd quarter 2015.
Facing this outlook the Management Board decided today, with the approval
of the Supervisory Board, to prepare and file for insolvency in self
administration and therefore implement necessary restructuring actions as
early as possible.

The Supervisory Board has also approved Thomas Oberle as an additional
Member of the Management Board of Solar-Fabrik AG, contingent upon i)
either interim insolvency measures pursuant to Section 21 of the Insolvency
Act or ii) the opening of the insolvency proceedings by the Local Court of
Freiburg. Thomas Oberle brings with him specific experience in
restructuring in self administration, supporting the current management
team in this particular situation.

For further information:
Investor Relations
Tel.: [phone],
Fax: [phone]


29.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Munzinger Str. 10
79111 Freiburg
Germany
Phone: +49 (0)761 - 4000-0
Fax: +49 (0)761 - 4000-199
E-mail: [e-mail]
Internet: www.solar-fabrik.de
ISIN: DE0006614712
WKN: 661471
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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