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SOLON's convertible bonds successfully placed with investors

(PresseBox) (Berlin, ) SOLON AG has placed all of its convertible bonds as part of a rights issue to existing shareholders and qualified investors both inside and outside Germany. It issued 200,000 convertible bearer bonds, each with a par value of EUR 1,000. The issue will provide SOLON AG with total funds of EUR 200 million (excluding transaction costs). The company plans to use this capital to fund its growth strategy and for potential strategic investments.

The convertible bonds have a maturity of five years. Their conversion price is EUR 94.65, which equates to a conversion premium of 27.5 percent. The bonds carry a coupon of 1.375 percent p.a., and the yield on the issue at maturity is 3 percent p.a. The maturity date is December 6, 2012. Each convertible bond with a par value of EUR 1,000 can be converted into 10.5652 common bearer shares of SOLON AG für Solartechnik. The earliest possible conversion date is January 6, 2008.

The bonds (ISIN DE000A0S9JG3 // WKN A0S9JG) were admitted to trading in the Open Market of the Frankfurt Stock Exchange on December 5, 2007. They were credited to subscribers' accounts with value date December 6, 2007.