EANS-Adhoc: SOLON SE
SOLON´s investment Blue Chip Energy GmbH will file for
insolvency
20.07.2011 – 18:02
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 20.07.2011 Berlin, July 20, 2011. Today, the management of Blue Chip Energy GmbH took the decision to file for insolvency proceedings for the company. SOLON had acquired a participation in the Austrian cell manufacturer in 2006 in order to ensure the supply of solar cells which was critical at that time and currently still holds 18.28% of the shares in the company. Following the insolvency of Blue Chip Energy, SOLON will have to make a valuation allowance in the aggregate amount of EUR 18 million, which primarily results from a shareholder loan granted in the past. Due to the difficult market situation and the persistent slack demand, the financial situation of Blue Chip Energy became increasingly tense. Despite intensive talks with the financing banks, it was not possible to the very last to find a solution. Consequently, there is no longer a basis for the continued existence of the company. SOLON SE Therese Raatz Investor Relations Telephone: 030 / 818 79 - 9305 Fax: 030 / 818 79 - 9300 E-mail: investor@solon.com Further inquiry note: Therese Raatz Head of Corporate Communications Tel.: +49 30 818 79-9305 E-Mail: therese.raatz@solon.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: SOLON SE Am Studio 16 D-12489 Berlin phone: +49 30 818 79-9305 FAX: +49 30 818 79-9300 mail: investor@solon.com WWW: www.solon.com sector: Energy ISIN: DE0007471195 indexes: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX, ÖkoDAX stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English