S.A.G. Solarstrom AG / Key word(s): Insolvency
13.02.2014 21:30
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.
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S.A.G. Solarstrom AG: Opening of general insolvency proceedings as per
March 1, 2014
Freiburg i. Br., 13th February 2014. The Executive Board of S.A.G.
Solarstrom AG (WKN: 702 100, ISIN: DE0007021008) decided today to lead the
insolvency proceeding which had so far been managed in self-administration,
into general insolvency proceedings on the date of the proceedings being
opened, which is expected on March 1, 2014. This decision was made in
agreement with the provisional trustee Dr. Jörg Nerlich.
The proceedings, which S.A.G. Solarstrom AG initiated by filing the
application for insolvency on December 13, 2013, and which is running
according to its objective of continuing operation of the company with its
present structure, will continue to be managed in self-administration until
they are opened. The opening proceedings have shown that both investors and
creditors have only limited experience with the comparably new process of
self-administered insolvency. The parties involved agree that the company
can be restructured and reorganized more simply and more quickly using the
means of insolvency proceedings through the better-known general insolvency
proceedings.
The objective of the insolvency proceedings remains unchanged:
restructuring and reorganizing the company and all its business units, a
process which will continue to be co-determined by the company's Executive
Board.
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
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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 190 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
13.02.2014 DGAP's 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: 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
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DGAP-Adhoc: S.A.G. Solarstrom AG: Opening of general insolvency proceedings as per March 1, 2014
| Source: EQS Group AG