euro adhoc: Solar-Fabrik AG
other
Polysilicon Supply Agreement with Hoku is
terminated
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Contracts
04.09.2008
Ad hoc Announcement pursuant to Sec. 15 German Securities Trading Act dated 4 September 2008
On 4 September 2008, Hoku Materials, Inc. ("Hoku") has
terminated the Polysilicon Supply Agreement between Hoku and Global
Expertise Wafer Division Ltd. (GEWD), a 100% subsidiary of
Solar-Fabrik AG, following Hoku and GEWD's inability to agree
upon the terms of an amendment to the Supply Agreement
concerning Hoku's financing requirements. Under this Supply Agreement
Hoku had agreed to deliver polysilicon to GEWD starting at the
end of 2009. As a consequence of the termination, Hoku is
obligated to refund a prepayment in the amount of USD 2 million as
well as to return a letter of credit in the amount of USD 25
million to GEWD. In addition, there are no further rights
or obligations of the parties under the Supply Agreement.end of announcement euro adhoc
Further inquiry note:
Martin Schlenk
Tel. +49(0)761 4000 207
E-Mail: m.schlenk@solar-fabrik.de
Branche: Alternative energy
ISIN: DE0006614712
WKN: 661471
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse München / free trade