DGAP-News: SolarWorld AG / Key word(s): Capital
Reorganisation/Miscellaneous
SolarWorld AG: Result of exercising of acquisition rights by bond
creditors released

06.03.2014 / 09:00

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Corporate News SolarWorld AG 
(Securities Code No. Shares: WKN A1YCMM and WKN A1YDED)
(International Securities Identification Numbers New bonds: 
DE000A1YDDX6 und DE000A1YCN14)

After the successful completion of its financial restructuring on February
24, 2014, SolarWorld AG is announcing the result of the exercising of
acquisition rights by the creditors of both its previous bonds (Bond
2011/2016 and Bond 2010/2017).

Within the acquisition period from 3 to 21 February 2014, the creditors of
Bond 2011/2016 and Bond 2010/2017 made use of their acquisition rights to
new shares and notes of the newly secured bonds in each case at a level of
more than 80 percent.

Those new shares and notes of the new secured bonds for which the bond
creditors did not exercise their acquisition rights were offered to the
previous bond creditors and eligible previous shareholders of SolarWorld AG
for additional purchase. The net proceeds from the realization of these
oversubscription shares and oversubscription notes will be paid as a
pro-rata cash settlement to the previous bond creditors who have not
exercised their acquisition rights.

The demand for oversubscription shares and oversubscription notes was so
high that the remaining amount of just under 20 percent of the new shares
and notes of the new secured bonds was already able to be allocated within
the acquisition period. The remaining new shares were oversubscribed
several times by eligible bond creditors and shareholders, so that orders
for the additional purchase of new shares could only be satisfied with 50
shares in each case and an amount of well above 10 percent of the order
volume exceeding this. The allocation price stood at EUR 12.50 per share
(WKN: A1YDED). Orders for the additional purchase of notes of the new
secured bonds were allocated in full for the relevant order. The allocation
price totaled EUR 265.00 per new secured bond of the SolarWorld Bond FRN
IS. 2014/2019 Series 1116 (WKN: A1YDDX) and EUR 316.73 per new secured bond
of the SolarWorld Bond FRN IS. 2014/2019 Series 1017 (WKN: A1YCN1).

After deduction of the realization costs, net proceeds of EUR 7,665,774.75
arise from the realization of the oversubscription shares and
oversubscription notes for the acquisition rights not exercised for Bond
2011/2016 and net proceeds of EUR 27,207,646.69 for the acquisition rights
not exercised for Bond 2010/2017.

The net realization proceeds will now be distributed as planned as a cash
settlement to the bond creditors who have not exercised their acquisition
rights. Creditors of the previous Bond 2011/2016 will receive EUR 82.23 per
not exercised acquisition right to 7.31 new shares and EUR 238.50 to a new
secured bond of the SolarWorld Bond FRN IS. 2014/2019 Series 1116.
Creditors of the previous Bond 2010/2017 will receive EUR 76.16 per not
exercised acquisition right to 6.77 new shares and EUR 320.82 per not
exercised acquisition right to a new secured bond of SolarWorld Bond FRN
IS. 2014/2019 Series 1017. EUR (including the first partial redemption
payment of EUR 35.77). The payment of the cash settlement is expected to
have taken place by March 14, 2014.

Both the Management Board of SolarWorld AG and the joint representatives of
the bond creditors expressed their satisfaction about the conclusion of the
transaction. "It is pleasing for all sides that the necessary restructuring
measures have now been successfully implemented. I would like to thank the
settlement agent WGZ BANK for their smooth implementation. In addition, I
would like to thank all other participants as well as creditors and their
representatives for their reliable cooperation", stated Phillipp Koecke,
Chief Financial Officer of SolarWorld AG.

"By the successful restructuring, losses of bond creditors could be
limited, and the new shares give them a chance to gain an increase in value
again," said Alexander Elsmann (attorney-at-law), joint representative of
the previous Bond 2011/2016.

"The closing of the financial restructuring of SolarWorld AG is a big
success for all parties involved. The financial basis for a successful
future of SolarWorld AG has been laid. The restructuring of the two bonds
will serve as an example for other restructuring processes," said Frank
Günther, G&P GmbH & Co. KG, joint representative of the previous Bond
2010/2017.

About SolarWorld AG: SolarWorld AG manufactures solar power systems and in
doing so contributes to a cleaner energy supply worldwide. The company,
located in Bonn, employs approximately 2,400 people and carries out
production in Freiberg, Germany, and Hillsboro, USA. From raw material
silicon to the solar module, SolarWorld manages all stages of production ‒
including its own research and development. Through an international
distribution network, SolarWorld supplies customers all over the world with
solar modules and complete systems. The company maintains high social
standards at all locations across the globe, and has committed itself to
resource- and energy-efficient production. SolarWorld has been publically
traded on the stock market since 1999. More information at
www.solarworld.de/en

Contact:
SolarWorld AG Investor Relations 
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: placement@solarworld.de; Internet:
www.solarworld.de/en/investor-relations


End of Corporate News

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06.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                                 
Company:     SolarWorld AG                                           
             Martin-Luther-King-Straße 24                            
             53175 Bonn                                              
             Germany                                                 
Phone:       +49 (0)228 - 559 20 470                                 
Fax:         +49 (0)228 - 559 20 9470                                
E-mail:      placement@solarworld.de                                 
Internet:    www.solarworld.de                                       
ISIN:        DE000A1YCMM2, DE000A1YDED6, DE000A1YDDX6, DE000A1YCN14  
WKN:         A1YCMM, A1YDED, A1YDDX, A1YCN1                          
Listed:      Regulierter Markt in Düsseldorf, Frankfurt (Prime       
             Standard); Freiverkehr in Berlin, Hamburg, München,     
             Stuttgart                                               
 
 
End of News    DGAP News-Service  
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