DGAP-News: SolarWorld AG: Result of exercising of

DGAP-News: SolarWorld AG / Key word(s): Capital Reorganisation/Miscellaneous SolarWorld AG: Result of exercising of acquisition rights by bond creditors released 06.03.2014 / 09:00 --------------------------------------------------------------------- Corporate News SolarWorld AG (Securities Code No. Shares: WKN A1YCMM and WKN A1YDED) (International Securities Identification Numbers New bonds: DE000A1YDDX6 und DE000A1YCN14) After the successful completion of its financial restructuring on February 24, 2014, SolarWorld AG is announcing the result of the exercising of acquisition rights by the creditors of both its previous bonds (Bond 2011/2016 and Bond 2010/2017). Within the acquisition period from 3 to 21 February 2014, the creditors of Bond 2011/2016 and Bond 2010/2017 made use of their acquisition rights to new shares and notes of the newly secured bonds in each case at a level of more than 80 percent. Those new shares and notes of the new secured bonds for which the bond creditors did not exercise their acquisition rights were offered to the previous bond creditors and eligible previous shareholders of SolarWorld AG for additional purchase. The net proceeds from the realization of these oversubscription shares and oversubscription notes will be paid as a pro-rata cash settlement to the previous bond creditors who have not exercised their acquisition rights. The demand for oversubscription shares and oversubscription notes was so high that the remaining amount of just under 20 percent of the new shares and notes of the new secured bonds was already able to be allocated within the acquisition period. The remaining new shares were oversubscribed several times by eligible bond creditors and shareholders, so that orders for the additional purchase of new shares could only be satisfied with 50 shares in each case and an amount of well above 10 percent of the order volume exceeding this. The allocation price stood at EUR 12.50 per share (WKN: A1YDED). Orders for the additional purchase of notes of the new secured bonds were allocated in full for the relevant order. The allocation price totaled EUR 265.00 per new secured bond of the SolarWorld Bond FRN IS. 2014/2019 Series 1116 (WKN: A1YDDX) and EUR 316.73 per new secured bond of the SolarWorld Bond FRN IS. 2014/2019 Series 1017 (WKN: A1YCN1). After deduction of the realization costs, net proceeds of EUR 7,665,774.75 arise from the realization of the oversubscription shares and oversubscription notes for the acquisition rights not exercised for Bond 2011/2016 and net proceeds of EUR 27,207,646.69 for the acquisition rights not exercised for Bond 2010/2017. The net realization proceeds will now be distributed as planned as a cash settlement to the bond creditors who have not exercised their acquisition rights. Creditors of the previous Bond 2011/2016 will receive EUR 82.23 per not exercised acquisition right to 7.31 new shares and EUR 238.50 to a new secured bond of the SolarWorld Bond FRN IS. 2014/2019 Series 1116. Creditors of the previous Bond 2010/2017 will receive EUR 76.16 per not exercised acquisition right to 6.77 new shares and EUR 320.82 per not exercised acquisition right to a new secured bond of SolarWorld Bond FRN IS. 2014/2019 Series 1017. EUR (including the first partial redemption payment of EUR 35.77). The payment of the cash settlement is expected to have taken place by March 14, 2014. Both the Management Board of SolarWorld AG and the joint representatives of the bond creditors expressed their satisfaction about the conclusion of the transaction. "It is pleasing for all sides that the necessary restructuring measures have now been successfully implemented. I would like to thank the settlement agent WGZ BANK for their smooth implementation. In addition, I would like to thank all other participants as well as creditors and their representatives for their reliable cooperation", stated Phillipp Koecke, Chief Financial Officer of SolarWorld AG. "By the successful restructuring, losses of bond creditors could be limited, and the new shares give them a chance to gain an increase in value again," said Alexander Elsmann (attorney-at-law), joint representative of the previous Bond 2011/2016. "The closing of the financial restructuring of SolarWorld AG is a big success for all parties involved. The financial basis for a successful future of SolarWorld AG has been laid. The restructuring of the two bonds will serve as an example for other restructuring processes," said Frank Günther, G&P GmbH & Co. KG, joint representative of the previous Bond 2010/2017. About SolarWorld AG: SolarWorld AG manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs approximately 2,400 people and carries out production in Freiberg, Germany, and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production â?? including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production. SolarWorld has been publically traded on the stock market since 1999. More information at www.solarworld.de/en Contact: SolarWorld AG Investor Relations Phone: +49 228 55920-470; Fax: +49 228 55920-9470, Email: placement@solarworld.de; Internet: www.solarworld.de/en/investor-relations End of Corporate News --------------------------------------------------------------------- 06.03.2014 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: SolarWorld AG Martin-Luther-King-StraÃ?e 24 53175 Bonn Germany Phone: +49 (0)228 - 559 20 470 Fax: +49 (0)228 - 559 20 9470 E-mail: placement@solarworld.de Internet: www.solarworld.de ISIN: DE000A1YCMM2, DE000A1YDED6, DE000A1YDDX6, DE000A1YCN14 WKN: A1YCMM, A1YDED, A1YDDX, A1YCN1 Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 256034 06.03.2014