In this context, the publication date for the 2012 1st quarter financial report of Sunways AG (Q1 report 2012) will also be postponed. The new publication date is expected to be 31 May 2012. Accordingly, the annual general meeting of Sunways AG will be postponed to late July/early August 2012. This decision was made today upon intensive consultations between the Management Board and the Supervisory Board. Sunways AG expects to announce the precise publication dates at short notice.
The postponement is based on the fact that, in connection with LDK Solar Germany Holding GmbHs recent acquisition of a majority stake in Sunways AG, various matters affecting the preparation of the financial statements and consolidated financial statements have arisen that still need to be clarified. These include the result of ongoing negotiations with a major supplier about the terms of a supply contract entered into with the latter and the resulting consequences concerning the consideration of this contract in the financial statements as well as the outcome of talks on the future funding structure with the new majority shareholder and relationship banks of Sunways AG.
