S.A.G. Solarstrom AG: 91% of the convertible bond extended to July 2012
Freiburg, July 27, 2010. Around 91% (€9,091,506.40) of S.A.G. Solarstrom AG’s (WKN: 702100, ISIN: DE0007021008) convertible bond issued in 2007 has been extended to July 29, 2012. 6% (€586,198.40) used this year’s conversion period and converted the bond into shares. €295,338.40 will be paid back to holders of the convertible bond at the end of July.
The Executive and Supervisory Boards of S.A.G. Solarstrom AG have decided to offer the subscribers of the 6.85% convertible bond issued in 2007 an extension of two years, until July 29, 2012, on the term limited to July 29, 2010. The term of the convertible bond includes conversion periods in each year. When the bond is extended, the interest rate will be 6.25% from July 30, 2010 (compared with 6.85% up to July 29, 2009).
After the offer of an extension, the holders of the convertible bond could either have the convertible bond paid out at the original due date, use this year’s conversion period for complete conversion, or extend the term of the convertible bond. Of the still outstanding total nominal amount of €9,973,043.20, a total of € 9,091,506.40 was extended. Of the remaining €881,536.80, a total of €586,198.40 was converted into S.A.G. Solarstrom AG shares in this year’s conversion period up to and including July 14, 2010. S.A.G. Solarstrom AG will increase capital by this amount and issue €228,605 new no-par bearer shares. The remaining amount of €295,338.40 will be returned to the creditors.
You can find detailed information on the convertible bond on S.A.G. Solarstrom AG’s website under Investor Relations / Convertible Bond.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg i.Br., Germany, are a manufacturer-independent provider of high-quality photovoltaic plants configured to customers’ individual needs. The group constructs efficient plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produce solar energy at their 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 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.
Founded in 1998, S.A.G. Solarstrom AG are considered pioneers in the solar industry. Around 165 specialists work at the four locations in Germany and subsidiaries in Italy, Spain, Austria, and Switzerland.
S.A.G. Solarstrom AG are listed in the General 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
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Public Relations / Investor Relations
Armin Baltzer
Tel.: +49-(0)761-4770-368
E-Mail: pr@solarstromag.com / ir@solarstromag.com