DGAP-News: Solar Millennium increases share in its sales subsidiary Solar Millennium Invest AG to 100 percent
(firmenpresse) - DGAP-News: Solar Millennium AG / Key word(s): Strategic Company
Decision
Solar Millennium increases share in its sales subsidiary Solar
Millennium Invest AG to 100 percent
29.08.2011 / 08:24
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* Sales subsidiary Millennium Invest AG now fully owned by Solar Millennium
AG
* Solar Millennium streamlines and simplifies group structures, thereby
providing more transparency
* Prof. Dr. Wolfgang Gerke, expert in the fields of banking and stock
exchanges and President of the Bayerisches Finanz Zentrum (Bavarian
Financial Center), to stay on as member of Solar Millennium Invest AG's
supervisory board
Erlangen, 29 August 2011 Solar Millennium AG (ISIN DE0007218406) has
increased its share in the sales subsidiary Solar Millennium Invest AG to
100 percent by indirectly acquiring the 45 percent share from Prof. Dr.
Wolfgang Gerke at nominal value.
Solar Millennium is thus streamlining and simplifying group structures as
well as providing for more transparency. Prof. Dr. Wolfgang Gerke, a
renowned expert in the fields of banking and stock exchanges and the
President of the Bayerisches Finanz Zentrum (Bavarian Financial Center),
will stay on as a member of Solar Millennium Invest AG's supervisory board.
Dr. Christoph Wolff, CEO of Solar Millennium and chairman of Solar
Millennium Invest AG's supervisory board states, 'I am pleased that Prof.
Gerke will continue to apply his financial expertise to the supervisory
board of Solar Millennium Invest AG, thereby supporting the Solar
Millennium Group in its capital market activities.'
Prof. Dr. Wolfgang Gerke, continues, 'The involvement in the supervisory
board of this financial services company is important to me personally, as
I am more than willing to support the combination of environmentally
friendly technology, the future prospects of a booming market and an
interesting investment and financial concept.'
Solar Millennium Invest AG was founded in November 2009. Solar Millennium
AG's sales subsidiary sells capital market products like corporate bonds
associated with solar power plant projects. By founding this licensed
financial services company, Solar Millennium consciously left the grey
market, subjecting its sales activities to the supervision of the German
Federal Financial Supervisory Authority (BaFin). As a financial services
institute, Solar Millennium Invest is further subject to the regulations of
the German Banking Act (KWG) and the Securities Trading Act (WpHG) and must
meet strict transparency and audit standards. Moreover, the company is a
compulsory member of the Compensatory Fund of Securities Trading Companies
(EdW), which seeks to provide small investors in particular with minimum
protection from a potential loss of their claims resulting from securities
transactions.?About Solar Millennium AG:
Solar Millennium AG, Erlangen, (ISIN DE0007218406) is a company that
operates globally in the renewable energy sector, with its main focus on
solar power plants. Together with its subsidiaries and associates, the
Company specializes in solar-thermal power plants, particularly parabolic
trough plants, and has taken a global leadership position in this field.
Solar Millennium is striving to further extend its expertise in this area
with the aim of achieving and securing sustainable technology leadership.
The Company covers all important business sectors along the value chain for
solar power plants: from project development and financing to technology
and the turnkey construction and operation of power plants. Solar
Millennium realized Europe's first parabolic trough power plants in Spain
as well as the first modern parabolic trough solar field in Egypt. In
Blythe (California), Solar Millennium is presently developing the largest
solar power plant in the world. Additional projects are planned around the
world with a total capacity of several thousand megawatts. The current
regional focus is on Spain, the U.S., the Middle East and North Africa.
About solar-thermal power plant technology:
Solar-thermal power plants generate electricity by converting solar
radiation into heat energy. In a parabolic trough power plant,
trough-shaped mirrors concentrate the incidental radiation onto a pipe in
the focal line of the collector. Its absorption heats a fluid heat medium
in the pipe, generating steam in the power block through a heat exchanger.
As in conventional power plants, the steam powers a turbine to generate
electricity. By integrating thermal storage, electricity can be supplied on
demand, even after sunset.
For further Information:
Solar Millennium AG
Corporate Communications presse(at)SolarMillennium.de
Investor Relations investor(at)SolarMillennium.de
Tel.: +49 (0)9131 9409-0
Web: www.SolarMillennium.de
End of Corporate News
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137222 29.08.2011
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Datum: 29.08.2011 - 08:24 Uhr
Sprache: Deutsch
News-ID 59856
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