Deutsche Environmental & Renewable Energy Plc: Change of Name to Solarmag Plc
(firmenpresse) - Deutsche Environmental & Renewable Energy Plc: Change of Name to Solarmag Plc
Results of General Meeting
Deutsche Environmental & Renewable Energy Plc is pleased to announce that all resolutions proposed at its General Meeting on 10 August 2010 were duly passed.
The Company has now changed its name to SOLARMAG PLC.
The shares in the Company have been redominated and split, on the basis that every old ordinary share with a nominal value of 10p (Sterling) has effectively become one new ordinary share with a nominal value of one Euro cent.
The acquisition of the entire issued share capital of Rivma Invest BV has been completed and the initial tranche of 15 billion new shares have been issued credited as fully paid to Larmag Energy Group BV.
Rivma Invest B.V. a Dutch company which has the exclusive rights from GS Energy, a Chinese company which supplies production equipment for thin film solar panels, to build two manufacturing plants in Europe for production of thin film solar panels. The consideration of EUR300 million for the acquisition is to be satisfied by the issue of 30 billion new shares in the Company, fully paid.
The new CEO and Chairman, Lars-Erik Magnusson said about the acquisition of Rivma Invest B.V.
“I am pleased that this acquisition is now completed and approved by the shareholders at the General Meeting on Agust 10th. This is a very important and exciting acquisition for Solarmag. Taking this with the acquisition of the two Spanish companies earlier in the year, we have made a significant step towards establishing Solarmag as a substantial company in the European solar market.“
The information in this press release constitutes "forward-looking information". Other han statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
10 August 2010
Contact:
Solarmag
Av. Alexandre Roselló, 9, 2ºA
Palma de Mallorca
Baleares
Spain
Telephone: (+34) 971 714 812
Leseranfragen:
DE/RE Energy PLC
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Datum: 12.08.2010 - 13:40 Uhr
Sprache: Deutsch
News-ID 24698
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
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