Suntech Announces Progress in Cayman Islands Proceedings
WUXI, China, Nov. 9, 2013
WUXI, China, Nov. 9, 2013 /PRNewswire/ --Suntech Power Holdings Co., Ltd.
(NYSE: STP) ("Suntech" or the "Company"), one of the world's largest solar
companies, today announced that the Grand Court of the Cayman Islands, the
jurisdiction of its incorporation, has granted the Company's application for a
provisional liquidation. Restructuring professionals selected by the Company
from PricewaterhouseCoopers have been appointed to work with the Company's
Board of Directors to continue progressing a restructuring of the Company. The
restructuring professionals will be appointed with the consent and support of
the Company and the Board of Directors with the ultimate goal of achieving the
Company's restructuring in the best interest of all stakeholders.
The restructuring professionals will commence working with the Company
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements,
and includes the ability of to progress a restructuring of the Company.
Further information regarding these and other risks is included in Suntech's
filings with the U.S. Securities and Exchange Commission, including its annual
report on Form 20-F. Suntech does not undertake any obligation to update any
forward-looking statement as a result of new information, future events or
otherwise, except as required under applicable law.
For media enquiries, please contact:
Ryan Scott Ulrich Public Relations and Investor Relations Ph: +86 510 8531
8654 Email: email@example.com
SOURCE Suntech Power Holdings Co., Ltd.
Press spacebar to pause and continue. Press esc to stop.