S.A.G. Solarstrom AG extends period for share buyback and increases buyback volume
- Buyback now planned to run until June 25, 2010
- Decision encompasses volume of up to 420,221 own shares
- CloseBrothers Seydler Bank AG authorized with independent implementation
Freiburg, April 19, 2010. S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008), Freiburg, today decided to extend the buyback program currently in progress in accordance with the empowerment granted at the annual shareholders’ meeting of July 13, 2009, both with regard to the time period and the volume of shares, and to buy back a further maximum of 420,221 own shares between now and June 25, 2010.
Including the 15,378 S.A.G. shares acquired between July 2 and July 10, 2009, the company acquired a total of 815,378 own shares between July 17, 2009 and March 30, 2010. As 7,735 shares were used to exercise conversion privileges in August 2009, S.A.G. Solarstrom AG thus have 807,643 own shares in their portfolio as of today. The CloseBrothers Seydler Bank of Frankfurt/Main has once again been commissioned to independently implement this extended share buyback program. Under the terms of the program, the bank may not exceed 25% of the average trading volume on all German stock exchanges on the twenty trading days prior to each day of repurchase. The purchase price must not exceed or fall below the arithmetic mean of the opening prices in XETRA trading on the Frankfurt am Main Stock Exchange on the five trading days prior to the repurchasing commitment of own shares by more than 10%.
According to the authorization granted at the shareholders’ meeting on July 13, 2009, shares thus acquired may be used for any legal purpose, particularly as payment for services in kind and particularly in connection with company mergers and the acquisition of companies, company components and company holdings. In addition, these repurchased own shares may – taking the purchase rights of all shareholders into account – be sold in a different manner than through the Stock Exchange or via a rights offer at a price not significantly lower than the stock market price of company shares at equal terms at the time of sale (pursuant to § 186 paragraph 3 sentence 4 of the German Stock Corporation Act (AktG)). The company can also use own shares that are repurchased based on the aforementioned authorization to exercise conversion and option rights, as well as in stock option plans. Shareholders’ purchase rights may be precluded in these example cases.
The buyback transactions carried out will be announced every Monday on the S.A.G. Solarstrom AG website at www.solarstromag.com.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg, 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 energy- and weather-data management, 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 160 specialists work at the four locations in Germany and subsidiaries in Italy, Spain, Austria, and Switzerland.
S.A.G. Solarstrom AG are listed on the open market, Entry 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
Jutta Lorberg
Tel.: +49-(0)761-4770-311
E-mail: pr@solarstromag.com / ir@solarstromag.com