G Solarstrom : Bondholders of the 2011/2017 bond and the 2010/2015 bond receive the first payment installment

Freiburg i. Br., May 19, 2015. As announced at the creditors' meeting on May 16, 2014 and in the memo of April 9, 2015 from the two joint representatives of the company's bonds, attorney Markus Kienle and One Square Advisory Services GmbH, creditors of the bond 2011/2017 (ISIN DE000A1K0K53/ WKN A 1K0K5) and creditors of the bond 2010/2015 (ISIN DE000A1E84A4 / WKN A1E84A) of S. A. G. Solarstrom AG (under insolvency proceedings), Freiburg i.Br. will receive the first installment payment in the amount of 15% on their recognized claims.

The partial distribution in the amount of 15% on the recognized claims of the holders of the 2011/2017 bond to the bondholders' custodian banks will be made on May 14, 2015.

The partial distribution in the amount of 15% on the recognized claims of the holders of the 2010/2015 bond to the bondholders' custodian banks will be made on May 26, 2015. The posting of the partial debentures of the 2010/2015 bond to the bondholders' security accounts on May 26, 2015 is the key factor for this first installment payment.

Taking into account the current status of the liquidation and necessary provisions for the estimated legal costs and debts of the insolvency assets as well as disputed claims, the distribution ratio of the first payment installment amounts to 15% on the recognized claims.

This is not a final payment or a severance payment but an initial payment installment. There has been no change in the insolvency dividend anticipated on the part of the insolvency administrator of around 50% on the recognized claims.

Background
S.A.G. Solarstrom AG filed for insolvency in December 2013 due to delayed cash inflows in the amount of more than €20 million. At the time when insolvency was filed, the company had no excessive debts. At the end of October 2014, the manufacturer-independent provider of photovoltaic systems was sold under a legally binding contract by means of a transferring reorganization to SF Suntech Deutschland GmbH, a subsidiary of the Chinese company Shunfeng Photovoltaic International. The purchase price for all operative business operations, including all assets of the S.A.G. Solarstrom Group, was €65 million.