SolarWorld AG: Opening of insolvency proceedings; Resignation of Management Board
August 01, 2017 at 03:39 pm IST
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DGAP-Ad-hoc: SolarWorld AG / Key word(s): Insolvency/Change of Personnel
SolarWorld AG: Opening of insolvency proceedings; Resignation of Management Board
01-Aug-2017 / 12:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Bonn, August 1, 2017 - The local court of Bonn has just opened insolvency proceedings on the assets of SolarWorld AG (99 IN 79/17) as well as its subsidiaries SolarWorld Industries Sachsen GmbH, SolarWorld Industries Thüringen GmbH, SolarWorld Innovations GmbH and SolarWorld Industries Deutschland GmbH. Attorney at law, Horst Piepenburg, Düsseldorf, has been appointed as insolvency administrator.
In this context, the insolvency administrator points out that the ongoing search for an investor, typical in insolvency cases, and the accompanying investor process, especially concerning the manufacturing sites of SolarWorld Industries Sachsen GmbH and SolarWorld Industries Thüringen GmbH have no substantial impact on the assets, financial and earning situation of SolarWorld AG. According to the information currently available, it is not possible for shareholders of SolarWorld AG to receive distributions from any proceeds from the sale.
In wake of the opening of the insolvency proceedings on the assets of SolarWorld AG, Mr. Philipp Koecke has just stated to the Supervisory Board that he immediately and without notice resigns his Management Board mandate; furthermore Mr. Frank Henn, Mrs. Colette Rückert-Hennen and Mr. Jürgen Stein have just stated to the Supervisory Board that they resign their respective Management Board mandates subject to the registration of the resignation in the commercial register.
Contact:
SolarWorld AG
Investor Relations
Tel.-Nr.: 0228/55920-470;
E-Mail: placement@solarworld.com
01-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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.com
Internet:
www.solarworld.de
ISIN:
DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN:
A1YCMM, A1YDDX, A1YCN1
Listed:
Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
SolarWorld AG is a Germany-based manufacturer and supplier of solar power solutions. The company develops and produces solar technologies. The Company operates through three segments: Production Germany, Production U.S. and Trade. The Production Germany and Production U.S. segments include integrated manufacturing activities in Germany and in the United States. The Trade segment comprises the worldwide distribution of solar systems and solar modules, the sale of wafers and cell and the operations of Solarparc GmbH. The Company's product portfolio comprises sunmodules, customized and standardized kits, rack systems for pitched roofs, flat roofs and for in-roof solutions, inverters, planning software, battery systems and monitoring systems, among others.