S.A.G. Solarstrom AG / Key word(s): Liquidity Problem 23.12.2013 11:07 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. Solar Italia s.r.l. introduces preventative settlement proceedings - The parent company's insolvency petition invalidates Group cash pooling, thus jeopardizing ability to meet financial obligations - Preventative settlement proceedings (Concordato preventivo) - Operative business will be continued Freiburg i. Br., December 23, 2013. The Advisory Board of S.A.G. Solar Italia s.r.l., a wholly-owned subsidiary of S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008), Freiburg i. Br., made the decision on 12/19/2013 to apply for the introduction of preventative settlement proceedings (Concordato preventivo; R.D. 16.03.1942 No. 267, Art. 160 et sqq.) today. The self-managed insolvency proceedings of the parent company S.A.G. Solarstrom AG has invalidated Group cash pooling and thus jeopardized the solvency of S.A.G. Solar Italia s.r.l.. Under the cash pooling process, the Italian subsidiary has claims against the parent company in the mid-single-digit million Euro range. During the procedure, payments from S.A.G. Solar Italia s.r.l. may not be enforced. The company will submit a settlement offer to the creditors within a period to be fixed by the court of maximum 180 days. S.A.G. Solar Italia s.r.l.'s business, which includes the management (Operations & Maintenance) of photovoltaic systems, with a total output of around 60 MWp for third parties in Italy, will be continued within the framework of the proceedings. 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 23.12.2013 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 ---------------------------------------------------------------------------
DGAP-Adhoc: S.A.G. Solarstrom AG: S.A.G. Solar Italia s.r.l. introduces preventative settlement proceedings
| Source: EQS Group AG