sunways AG

euro adhoc: Disclosure announcement after § 15 WpHG
sunways AG / Financing, Stock Offerings
Sunways AG has successfully issued convertible bonds with subscription rights

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

The convertible bond issue 2004/2009 of Sunways AG in a nominal amount of 10 million Euros was successfully placed with private and institutional investors in Germany and abroad. A total of 100,000 bonds in a nominal amount of 100 Euros each were issued at an issue price of 100 percent.

The convertible bonds are expected to be traded in the OTC market segment of the Frankfurt Stock Exchange from 15 October 2004. Bonds not subscribed for were allotted to institutional investors and existing shareholders within the framework of a binding offer for the acquisition of additional new bonds ("additional acquisition"). The demand substantially exceeded the supply. The allotment of bonds resulting from additional acquisitions was executed at 100 percent.

The convertible bond issue resulted in proceeds of 10 million Euros which will be used to fund the new solar cell production line in Arnstadt / Thuringia. The bonds will be convertible into a maximum of 2,061,856 new shares from the Company's conditional capital after the annual general meeting 2006, at the earliest, at a conversion price of EUR 4.85. The bonds have a 5-year maturity, the interest rate is 7.00 percent per annum.

equinet Securities AG was in charge of the structuring and placement of the convertible bond issue.

end of announcement                                euro adhoc 13.10.2004 17:27:33

Further inquiry note: Astrid Forst Tel.: +49 (0)7531 99677 480 E-Mail:

Branche: Alternative energy
ISIN:      DE0007332207
WKN:        733220
Index:    Prime Standard, CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade

Weitere Meldungen: sunways AG

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