EANS-Adhoc: SOLON SE SOLON´s investment Blue Chip Energy GmbH will file for
insolvency
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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.
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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
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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