centrotherm photovoltaics starts second share repurchase
- Share repurchase of up to 128,014 shares
- Purpose: Payment for the acquisition of the remaining shares in SolMic GmbH
- Share repurchase shall be concluded by December 31, 2008
As announced on October 14, 2008 the Management Board of centrotherm photovoltaics AG has passed a resolution concerning the execution of a share repurchase of up to 128,014 shares. This corresponds to 0.6 percent of the current issued share capital of the provider of technology and services for the manufacturing of solar cells and solar silicon. The purchase price per share (excluding ancillary purchase costs) maybe neither 10 percent higher nor 10 percent lower than the price calculated for the company's share on the relevant stock market trading date by the opening auction in Deutsche Börse AG's Xetra trading.
Pursuant to safe harbor regulations, the intention is that a mandated bank shall perform the repurchase independently and uninfluenced by the company.
The share repurchase can be commenced immediately on the basis of the resolution of the Shareholders' General Meeting of June 11, 2008. The repurchased shares will be used as part-payment for the acquisition of the remaining 50 percent of the shares in SolMic GmbH, which occurred in August 2008, and will be transferred to Dr. Albrecht Mozer. SolMic is a specialist for technology and engineering services revolving around design and process-optimization for the production of polysilicon, ingot and wafers.
It is intended that the share repurchase will be concluded by December 31, 2008.
About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, is one of the world's leading technology and service-providers for the manufacturing of solar cells and solar silicon. The broad product spectrum comprises key equipment and turnkey production lines for crystalline and thin-film solar cells. The product range is supplemented by reactors and converters for the manufacturing of solar silicon. centrotherm photovoltaics guarantees its customers important performance parameters such as production capacity, degree of efficacy, and completion deadlines for turnkey lines. Including the recent acquisition of centrotherm Thermal solutions, centrotherm photovoltaics currently employs about 900 staff members at its locations in Blaubeuren, Burghausen, Constance and Dresden. The company operates globally in Europe, Asia and the USA. In the financial year 2007 centrotherm photovoltaics achieved revenue of EUR 166.2 million, EBIT of EUR 21.1 million, and is listed in the TecDax of the Frankfurt Stock Exchange.
centrotherm photovoltaics AG
Listing: Regulated Market/Prime Standard, Frankfurt Securities Exchange
Registered Office: Germany
Senior Manager Investor Relations
T +49 7344 918-8890