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S.A.G. Solarstrom AG: Executive Board of S.A.G. Solarstrom AG will not take over management of S.A.G. Solar GmbH & Co. KG
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S.A.G. Solarstrom AG: Executive Board of S.A.G. Solarstrom AG will not
take over management of S.A.G. Solar GmbH & Co. KG
12.12.2014 / 16:25
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Executive Board of S.A.G. Solarstrom AG will not take over management of
S.A.G. Solar GmbH & Co. KG
Freiburg i. Br., December 12, 2014. The current members of the executive
board of S.A.G. Solarstrom AG, a company under insolvency proceedings,
(German security identification number: 702 100, ISIN: DE0007021008),
comprising the chairman Dr. Karl Kuhlmann and Mr Ulrich Kenk and Ms Karin
Schopf, will not be part of the management of S.A.G. Solar GmbH Co. KG,
part of the Shunfeng International Clean Energy Group which acquired
material parts of the businesses of S.A.G. Solarstrom AG group by agreement
dated 30 August 2014. No agreement could be reached that the members of the
executive board would work for Shunfeng International Clean Energy Group
going forward.
The three board members of S.A.G. Solarstrom AG believe that Shunfeng
International Clean Energy Group has a very good chance of positioning
itself as one of the leading international solar providers in the future.
The executive board of S.A.G. Solarstrom AG will therefore support the
integration process until the end of 2014.
"S.A.G. Solarstrom AG's executive board has supported both the investor and
integration processes with great commitment and dedication, and has thus
significantly contributed to a successful conclusion", says Dr. Jörg
Nerlich, insolvency administrator of S.A.G. Solarstrom AG "for which I
would like to express my sincere gratitude. I am very happy that the
executive board has confirmed that it will continue to support liquidation
tasks not associated with the sale of the parts of S.A.G. Solarstrom AG to
the Shunfeng Group".
S.A.G. Solarstrom AG will be liquidated under the continuing insolvency
process, as already reported. The shares in S.A.G. Solarstrom AG will be
delisted on the Frankfurt Stock Exchange on May 19, 2015, the listing in
the exchange segment m:access of the Munich Stock Exchange will end on
December 30, and the listing on the open market will end on April 30.
About S.A.G. Solarstrom AG (under insolvency proceedings)
The operative business of S.A.G. Solarstrom AG (under insolvency
proceedings, German security identification number: 702 100, ISIN:
DE0007021008), Freiburg i. Br., previously a manufacturer-independent
provider of high-quality photovoltaic systems and associated services, as
well as an electricity producer with a portfolio of own systems, was sold
to the Shunfeng International Clean Energy Group under a purchase agreement
on August 30, 2014. The company, founded in 1998, was one of the pioneers
of the solar industry.
More information: www.solarstromag.com
Contact:
S.A.G. Solarstrom AG i.L.
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com
---------------------------------------------------------------------
12.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Germany
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail@solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008, DE000A1E84A4, DE000A1K0K53,
WKN: 702100, A1E84A, A1K0K5
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
305175 12.12.2014
Executive Board of S.A.G. Solarstrom AG will not take over management of
S.A.G. Solar GmbH & Co. KG
Freiburg i. Br., December 12, 2014. The current members of the executive
board of S.A.G. Solarstrom AG, a company under insolvency proceedings,
(German security identification number: 702 100, ISIN: DE0007021008),
comprising the chairman Dr. Karl Kuhlmann and Mr Ulrich Kenk and Ms Karin
Schopf, will not be part of the management of S.A.G. Solar GmbH Co. KG,
part of the Shunfeng International Clean Energy Group which acquired
material parts of the businesses of S.A.G. Solarstrom AG group by agreement
dated 30 August 2014. No agreement could be reached that the members of the
executive board would work for Shunfeng International Clean Energy Group
going forward.
The three board members of S.A.G. Solarstrom AG believe that Shunfeng
International Clean Energy Group has a very good chance of positioning
itself as one of the leading international solar providers in the future.
The executive board of S.A.G. Solarstrom AG will therefore support the
integration process until the end of 2014.
"S.A.G. Solarstrom AG's executive board has supported both the investor and
integration processes with great commitment and dedication, and has thus
significantly contributed to a successful conclusion", says Dr. Jörg
Nerlich, insolvency administrator of S.A.G. Solarstrom AG "for which I
would like to express my sincere gratitude. I am very happy that the
executive board has confirmed that it will continue to support liquidation
tasks not associated with the sale of the parts of S.A.G. Solarstrom AG to
the Shunfeng Group".
S.A.G. Solarstrom AG will be liquidated under the continuing insolvency
process, as already reported. The shares in S.A.G. Solarstrom AG will be
delisted on the Frankfurt Stock Exchange on May 19, 2015, the listing in
the exchange segment m:access of the Munich Stock Exchange will end on
December 30, and the listing on the open market will end on April 30.
About S.A.G. Solarstrom AG (under insolvency proceedings)
The operative business of S.A.G. Solarstrom AG (under insolvency
proceedings, German security identification number: 702 100, ISIN:
DE0007021008), Freiburg i. Br., previously a manufacturer-independent
provider of high-quality photovoltaic systems and associated services, as
well as an electricity producer with a portfolio of own systems, was sold
to the Shunfeng International Clean Energy Group under a purchase agreement
on August 30, 2014. The company, founded in 1998, was one of the pioneers
of the solar industry.
More information: www.solarstromag.com
Contact:
S.A.G. Solarstrom AG i.L.
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com
---------------------------------------------------------------------
12.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Germany
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail@solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008, DE000A1E84A4, DE000A1K0K53,
WKN: 702100, A1E84A, A1K0K5
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
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305175 12.12.2014
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