DGAP-News: S.A.G. Solarstrom AG initiates search for investors

DGAP-News: S.A.G. Solarstrom AG initiates search for investors 

DGAP-News: S.A.G. Solarstrom AG / Key word(s): Miscellaneous
S.A.G. Solarstrom AG initiates search for investors

13.02.2014 / 15:02

---------------------------------------------------------------------

S.A.G. Solarstrom AG initiates search for investors 

- Order placed with Roland Berger Strategy Consultants
- Development of restructuring plan is on schedule, operative business
continues
- Opening of insolvency proceedings planned for March 1, 2014
- Financial reports to be published later

Freiburg, February 13, 2014. As part of the restructuring process, S.A.G.
Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) has instructed the international strategy consultancy Roland
Berger Strategy Consultants to organize and support an investor process
with regard to a commitment to S.A.G. Solarstrom AG on a national and
international basis. The order was placed in agreement with the temporary
trustee Dr. Jörg Nerlich from the lawyers' offices of Görg, Cologne, as
well as the temporary creditor committee, after several experienced
specialists had been assessed. As part of the self-administered insolvency
proceedings, the company's Executive Board is currently developing a
concept to restructure the Group, in coordination with the temporary
trustee and the temporary creditor committee, to ensure the long-term
future of the company. First results are expected to be presented when the
insolvency proceedings open at the beginning of March this year.
Meanwhile, operative business continues, although new business in plant
construction is restricted. Due to the focus on the development of the
restructuring concept, both the annual financial statement and the
consolidated financial statement for fiscal year 2013, as well as the
subsequent interim financial reports in fiscal year 2014 will not be
published by the specified deadlines.

Together with the temporary trustee, the Executive Board is examining a
variety of options as part of the restructuring plan.

'The course of action so far has been proceeding as planned and is
altogether characterized  by very constructive cooperation between the
Executive Board and the temporary creditor committee', says the temporary
trustee Dr. Jörg Nerlich. 'I thus assume that the restructuring plan can be
established with the agreement of all those involved'.
 
 'Our common goal is the continued operation of the company, if possible
with its present structure', says Dr. Karl Kuhlmann, CEO of S.A.G.
Solarstrom AG. 'Our four pillar business model has basically proven to be
successful. However, plant construction requires substantial funding. For
an investor, S.A.G. Solarstrom AG's business areas offer attractive options
in the long-term'.

A key factor in the placement of the order with Roland Berger Strategy
Consultants was the company's long-term experience in M&A processes,
expertise in the preliminary work on insolvency plans as well as experience
in all relevant photovoltaic growth markets, in particular in Asia.

Further details on the restructuring plan are expected to be communicated
at the beginning of March when the insolvency proceedings open.

Due to its focus on the restructuring process, S.A.G. Solarstrom AG will
not be able to adhere to the required deadlines for publication of the
annual and quarterly results. The annual financial statement and the
consolidated financial statement for fiscal year 2013, as well as the
subsequent interim financial reports in fiscal year 2014, will therefore be
published at a later date.

The operative business of S.A.G. Solarstrom AG, S.A.G.
Vertriebsgesellschaft mbH and Technik GmbH is currently proceeding without
restrictions, apart from the new business in plant construction, under the
self-administered insolvency proceedings.

About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent
provider of photovoltaic plants configured to customers' individual needs.
The Group constructs plants of all sizes both in Germany and abroad. S.A.G.
Solarstrom AG also produces solar energy at its 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 service and 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.

S.A.G. Solarstrom AG was founded in 1998.  Around 190 specialists work at
the four locations in Germany and the foreign subsidiaries.

S.A.G. Solarstrom AG is listed in the Prime 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 

Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com 

Public Relations / Investor Relations 
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr@solarstromag.com / ir@solarstromag.com 


End of Corporate News

---------------------------------------------------------------------

13.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


Language:    English                                              
Company:     S.A.G. Solarstrom AG                                 
             Sasbacher Str. 5                                     
             79111 Freiburg                                       
             Germany                                              
Phone:       + 49 761 4770 0                                      
Fax:         + 49 761 4770 555                                    
E-mail:      mail@solarstromag.com                                
Internet:    www.solarstromag.com                                 
ISIN:        DE0007021008, DE000A1E84A4, DE000A1K0K53,            
WKN:         702100, A1E84A, A1K0K5                               
Listed:      Regulierter Markt in Frankfurt (Prime Standard);     
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München  
             (m:access), Stuttgart                                
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
252546 13.02.2014                                                      
 
Press spacebar to pause and continue. Press esc to stop.