SolarWorld AG: Annual General Meeting – Extraordinary adjustments – Notice of losses17-04-13
The Management Board of SolarWorld AG (ISIN DE0005108401) notifies that a loss has occurred in the amount of one half of the nominal share capital (§ 92 sec. 1 of the German Stock Corporations Act - AktG). According to current estimates, the equity capital for the 2012 fiscal year in the individual financial statements prepared according to the German Commercial Code (HGB) will amount to approximately negative EUR 20 million to negative EUR 50 million. According to current estimates, losses after taxes in the amount of negative EUR 520 million to negative EUR 550 million will be realized for the 2012 fiscal year in the individual financial statements prepared according to HGB. One fifth of the losses are due to negative effects on earnings in connection with business developments in 2012 and in the amount of four fifths due to adjusted valuations for shares in affiliated businesses and for subsidiaries / loans (financial assets in terms of § 266 sec. 2 A.III. HGB), which are not cash relevant.
For this reason, the Management Board will at first (instead of the Annual General Meeting of shareholders) convene an extraordinary meeting of shareholders pursuant to § 92 sec. 1 AktG at a new point in time.
It is expressly noted that any balance sheet adjustments in the context of the annual audit may significantly modify the estimates noted above.
Bonn, April 17, 2013
The Management Board