Ad-hoc | 1 June 2016 23:21
SINGULUS TECHNOLOGIES AG / Key word(s): Change in Forecast
01.06.2016 23:21
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement pursuant to § 15 WpHG
SINGULUS TECHNOLOGIES Withdraws Forecasts for the Business Years 2016 and
2017
Kahl am Main, June 01, 2016 - The SINGULUS TECHNOLOGIES AG (SINGULUS
TECHNOLOGIES) withdraws the currently prevailing forecasts for the business
years 2016 and 2017 with immediate effect.
The reason is the order with a subsidiary of the Chinese state-owned
enterprise China National Building Materials (CNBM) in excess of EUR 110
million for the delivery of production machines for CIGS solar modules,
which was received a couple of days ago.
Generally, SINGULUS TECHNOLOGIES realizes sales in the Solar division
according to the progress of project work. Accordingly, the amount of
expected sales in the current business year strongly depends on the
schedule of implementation on the announced order. From today's point of
view andcontrary to previous expectations, major parts of the sales and
earnings realization will be delayed to after the turn of the year 2016 and
into the business year 2017, because the contract has been signed later
than it had been expected during preparing the forecast.
Therefore, the prevailing forecasts for the two business years 2016 and
2017 are thus most likely not attainable in their current form as of
today's perspective and is withdrawn with immediate effect by the company.
The company will publish new forecasts for the business years 2016 and
2017, if applicable, when they are sufficiently certain.
The company will inform the public about the receipt of the prepayment for
this major project. The contracts are thus still subject to the approval by
the relevant boards of SINGULUS TECHNOLOGIES.
The further implementation of the ongoing restructuring measures will be
realized as planned. The company will implement the planned capital
reduction as approved by the extraordinary general meeting with a ratio of
160 : 1 for the shares of the SINGULUS TECHNOLOGIES Aktiengesellschaft
(ISIN DE 0007238909/ WKN 723 890). The transition of the quotation of the
shares will come into effect as of June 6, 2016.
As expected in the next week the implementation of the exchange in
acquiring rights for new shares and a new bond will take place as part of a
capital increase decided by the Bondholders Meeting of the SINGULUS bond.
This means that the current shareholders after the capital increase will
hold around 5% of the increased share capital.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main, ISIN:
DE0007238909, WKN: 723890
Contact:
Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279
Bernhard Krause, Corporate Communications, Tel.: + 49 (0) 1709202924
01.06.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap.de
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Language: English
Company: SINGULUS TECHNOLOGIES AG
Hanauer Landstrasse 103
63796 Kahl am Main
Germany
Phone: +49 (0)1709202924
Fax: +49 (0)6188 440-110
E-mail: bernhard.krause@singulus.de
Internet: www.singulus.de
ISIN: DE0007238909, DE000A1MASJ4
WKN: 723890, A1MASJ
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of Announcement DGAP News-Service
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