·All objections and actions for annulment by opponents of the decision by the annual general meeting to increase the capital stock now averted through settlement
·Bridge loan extended until the end of 2008
·Capital increase resolution entered in commercial register
Conergy AG has quickly reached settlements with all 25 shareholders who raised objections to the increase in the capital stock presented by the AGM on 28 August 2008. As part of the settlement agreements, Conergy is providing its shareholders with additional information on the ongoing restructuring and the capital increase in the Internet. Furthermore, all shareholders will be conditionally granted excess subscription rights and the planned capital increase will only go ahead when issue proceeds pass the 250-million-euro mark.
Once the settlement agreements were in place, the Hamburg-based solar energy company finalised an extension to its bridge loan worth 240 million euros until 31 December 2008 with Dresdner Bank and Commerzbank. The loan was made available to the company in February 2008. Dieter Ammer, CEO of Conergy AG: “With the extension of the credit line the banks have underlined their confidence in Conergy AG and the successful implementation of our restructuring programme to date. In light of the current turbulence on the stock exchanges this now also gives us the necessary flexibility to wait for the right time until year-end to execute the capital increase at the perfect moment.”
In a further move, Conergy AG entered the capital increase approved by the AGM on 24 September 2008 in the Hamburg commercial register, putting in place all technical requirements for its implementation.
Dieter Ammer: “In the planned capital increase we will of course take into account the interests of the company, its current shareholders and possible future new investors when taking this step.”
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DISCLAIMER
This communication is neither a prospectus nor does it constitute an offer to sell or the solicitation of an offer to purchase the shares or other securities of Conergy AG and it does not substitute the prospectus. Subject to the approval by the German Financial Supervisory Authority a securities prospectus will be published prior to the offer period and made available free of charge by Conergy AG and the coordinators. The shares will be offered exclusively on the basis of the prospectus required to be approved by the German Financial Supervisory Authority.
This communication is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”).Any public offering of securities to be made in the United States of America will be made by means of a prospectus that may be obtained from Conergy AG and that will contain detailed information about the company and management, as well as financial statements. Conergy AG does not intend to register any part of the offering in the United States.
The information contained in this communication is not for publication or distribution in or into the United States of America, Canada, Australia or Japan and does not constitute an offer of securities for sale in the United States of America, Canada, Australia or Japan.