S.A.G. Solarstrom AG / Key word(s): Insolvency 13.12.2013 09:28 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- S.A.G. Solarstrom AG to file for insolvency - Self-administration of insolvency proceedings planned - Refinancing negotiations failed - No interest payment on bond 2010/2015 on December 16, 2013 Freiburg i. Br., December 13, 2013. S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008), Freiburg i. Br., as well as its subsidiaries S.A.G. Solarstrom Vertriebsgesellschaft mbH and S.A.G. Technik GmbH will file for insolvency today. S.A.G. Solarstrom AG has been holding refinancing talks with banks, financial services providers and other creditors, as well as investors, since November 18, as a result of cash inflows that have not been received on time and in view of the operative losses expected since November 29, 2013. After these refinancing negotiations, which had already entered a very concrete stage, can be considered to have failed today, the company sees no option of implementing a short-term financial restructuring outside of insolvency proceedings. Accordingly, no interest payment will be made on December 16, 2013 for the 2010/2015 bond (German security identification number: DE000A1E84A4, ISIN: A1E84A). On November 18, 2013, it became apparent that a cash inflow expected in November in the mid-single-digit million Euro range would probably only be received during the course of 2014. The reason for this is that the closing of the sale of an Italian system portfolio cannot currently take place due to a legal dispute with the network operator. According to information on December 3, a cash inflow to S.A.G. Solarstrom AG in the mid-single-digit million Euro range was delayed from a loan that had been granted to an Italian project company. The payment is now expected by the end of Q1 2014 at the earliest, due to formal legal reasons. In conjunction with other delays in cash inflows from sales of systems in Germany, this gave rise to liquidity shortfalls that could not be covered by the refinancing talks. S.A.G. Solarstrom AG is planning self-administration of the insolvency proceedings. The goal is sustainable restructuring to support the continuation of the Group, in which the creditors are to be closely involved. The company will work on a recovery plan over the next three months to this end. Contact: S.A.G. Solarstrom AG Sasbacher StraÃe 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 --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About S.A.G. Solarstrom AG S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent provider of photovoltaic plants configured to customers' individual needs. The Group constructs plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at its own plants. S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of photovoltaic plants, including forecast and energy services, yield reports, and remote service and maintenance, as well as insurance and financing. The Group thus offers a comprehensive value chain in photovoltaics, from yield reports, planning, construction, operations, and monitoring to optimization, repowering, and deconstruction. S.A.G. Solarstrom AG was founded in 1998. Around 200 specialists work at the four locations in Germany and the foreign subsidiaries. S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock Exchange as well as according to the rules and standards M:access of the Munich Stock Exchange. Further information: www.solarstromag.com 13.12.2013 DGAP's 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 (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München (m:access), Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------