EANS-News: Sunways AG Statement: Management Board and Supervisory Board of
Sunways AG recommend accepting the offer submitted by LDK Solar
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Mergers - Acquisitions - Takeovers
Subtitle: - Offer price of 1.90 per Sunways share is deemed adequate by the
Management Board and the Supervisory Board
- The takeover will involve competitive advantages and promising international
prospects for Sunways
Konstanz (euro adhoc) - Today, the Management Board and Supervisory Board of
Sunways AG (SWW:GR, SWWG.DE, ISIN DE0007332207) published their joint statement
pursuant to § 27 of the Securities Acquisition and Takeover Act (WpÜG) with
respect to the voluntary public takeover offer submitted by LDK Solar Germany
Holding GmbH on 13 February 2012. Taking into account all circumstances relating
to the offer, the offered price of EUR 1.90 per share is unanimously considered
adequate within the meaning of § 31 subparagraph 1 WpÜG by both boards.
The Management Board and the Supervisory Board are of the opinion that the offer
will serve the interests of Sunways AG and therefore recommend that Sunways
shareholders accept the offer.
LDK Solar Co., Ltd. (LDK:US, LDK.N, ISIN US50183L1070), the parent group of LDK
Solar Germany Holding GmbH, is one the world´s ten largest photovoltaics
companies in terms of sales. As the world´s largest fully integrated
manufacturer of silicon, wafers, solar cells and solar modules, LDK Solar has
supplied raw materials to Sunways AG for many years and has been cooperating
with the company in the production of Sunways Solar Modules since 2010.
The acceptance period for the offer started upon publication of the offer
document on 13 February 2012 and, subject to a potential extension of the
acceptance period, will end on 26 March 2012, 24:00 hours (Frankfurt am Main
local time). The so-called additional acceptance period pursuant to § 16
subparagraph 2 WpÜG will end two weeks after publication of the results of the
offer by the bidder in accordance with § 23 subparagraph 1 sentence 1 no. 2
WpÜG. In the offer document, the bidder declared the additional acceptance
period was expected to begin on 30 March 2012 and to end on 12 April 2012, 24:00
hours (Frankfurt am Main local time) - subject to an extension of the acceptance
period.
The Management Board and Supervisory Board would jointly like to point out that
each Sunways shareholder must decide for himself/herself whether or not to
accept the offer - and, if applicable, for how many shares - in the light of all
circumstances, his/her individual situation (including his/her personal tax
situation) and personal assessment of the future development of the value and
price of the Sunways shares. Subject to any applicable legal provisions, the
Management Board and Supervisory Board do not assume liability for any adverse
financial effects that may subsequently be suffered by a Sunways shareholder as
a result of the acceptance or non-acceptance of the offer.
This statement and any additional statements or changes to this statement will
be published in accordance with §§ 27 subparagraph 3 sentence 1, 14 subparagraph
3 sentence 1 WpÜG on the internet at www.sunways.eu/en in the "Investor
Relations" section under "Takeover Offer" as well as via an announcement in the
electronic Federal Gazette and will be made available free of charge at the
company´s reception desk at 78467 Konstanz, Macairestr. 3-5.
This press release is also available on http://www.sunways.eu/en and
http://www.presseportal.de/pm/57666/sunways_ag.
Forward-looking statements
This press release contains statements relating to the future business
development of Sunways AG that are based on management assumptions and estimates
made at the time of publication. Should the assumptions underlying the prognoses
fail to be fulfilled, actual events may vary substantially from forward-looking
statements. Uncertainties include changes in the political, legal, economic and
business environment, exchange and interest rate fluctuations as well as the
behaviour of competitors and other market participants. Sunways does not intend
and is not under any obligation to update forward-looking statements on an
ongoing basis as these are exclusively based on the circumstances prevailing as
of the date of publication.
About Sunways
Sunways AG, Konstanz/Germany, stands for consistent use of solar energy to
secure long-term energy supply of man in an efficient and sustainable manner.
Sunways offers technological competence, performance and highest quality - from
single components to complete solar systems.
Since its foundation in 1993, Sunways AG evolved into a technology leader in the
photovoltaics industry serving international markets. With silicon-based solar
cells, inverters, solar modules and solar systems, the company offers all
components required for high-yield photovoltaic power generation. With
photovoltaic solutions tailored to customers´ needs (transparent and coloured
solar cells, building- integrated photovoltaic installations), Sunways turns
exceptional ideas into reality.
Sunways Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in
addition, the group has own branch offices in Barcelone/Spain and Bologna/Italy.
In 2011, Sunways AG with about 330 employees realised sales of around EUR 115
million. The shares of Sunways AG are listed at the Frankfurt Stock Exchange
(SWW:GR, SWWG.DE, ISIN DE0007332207).
For further information, please visit www.sunways.eu/en.
Further inquiry note:
Dr. Harald F. Schaefer
Head Corporate Communications and Investor Relations
Tel.: +49 (0)7531 996 77-415
E-Mail: communications@sunways.de
end of announcement euro adhoc
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company: Sunways AG
Macairestr. 3 - 5
D-78467 Konstanz
phone: +49 (0)7531 99677 0
FAX: +49 (0)7531 99677 10
mail: info@sunways.de
WWW: http://www.sunways.de
sector: Alternative energy
ISIN: DE0007332207
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English