Widespread approval at S.A.G. Solarstrom AG's Annual General Meeting 2010
- Resolution on dividends to shareholders of €0.10 per share qualifying for dividends
- New share buyback program up to December 27, 2011 approved
Freiburg, June 28, 2010. S.A.G. Solarstrom AG (German security identification number WKN: 702 100, ISIN: DE0007021008), Freiburg, is distributing a dividend of €0.10 to their shareholders for the first time. This was resolved today at the Annual General Meeting in Freiburg. The aim is to establish a sustainable dividend policy and increase the share’s attraction. At the same time, a new share buyback program was agreed.
The dividend proposal by the Executive Board and the Supervisory Board of S.A.G.
Solarstrom AG was adopted by a large majority of 99.83% of the capital carrying voting rights present at the Annual General Meeting. In the preceding discussion, S.A.G. Solarstrom AG’s Executive Board emphasized that today’s resolution would be the starting point of a sustainable dividend policy. The moderate amount of the dividend was owing to the continued strong growth of the group and the associated investment requirement.
In addition, the company was once again authorized to acquire own shares up to 10% of the capital stock, with 99.89% of the capital carrying voting rights. This authorization is valid up until the end of 2011.
From the last authorization for the acquisition of own shares, a total of 1,142,593 no-par shares were acquired at an average rate of €3.68 up to June 25, 2010. S.A.G. Solarstrom thus has a total of 1,134,858 own shares in their own portfolio. The buyback program is giving the company the chance to be able to fall back on their own shares in the event of strategic requirements. The shares can also be used to exercise conversion or option rights. S.A.G. Solarstrom AG would like to continue the share buyback program in 2010 and 2011, in order to establish freedom of action.
All items on the agenda were resolved with a clear majority at S.A.G. Solarstrom AG’s Annual General Meeting, which was well attended by around 200 shareholders. Apart from the profit transfer contracts and control agreements of the subsidiaries meteocontrol, S.A.G. Technik GmbH and S.A.G. Solarkraftwerke GmbH, these included the resolution on amendments to the Articles of Association to implement the Act regarding the Directive on shareholders’ rights. “The Annual General Meeting’s resolutions are setting the trends and support our further corporate development. Structurally, we’re very well prepared for the challenges we will face in the future“, says Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG.
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 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
Armin Baltzer
Tel.: +49-(0)761-4770-368
E-mail: pr@solarstromag.com/ ir@solarstromag.com