aleo sells assets and trademark
At a recent extraordinary general meeting of aleo solar, the meeting approved the agreement on the sale of the aleo solar Group's key business operation including the Prenzlau production site and the "aleo" trademark to SCP Solar GmbH, Hamburg, by a large majority.
In a press release dated 5 February 2014 aleo solar AG already reported on the background to this company purchase agreement and its consequences. In connection with the sale of the business operations, the shareholder Robert Bosch GmbH has undertaken to make a transaction compensation payment of at least EUR 31.0 million to aleo solar AG.
The general meeting also resolved on 15 April 2014 to wind up (liquidate) aleo solar AG with effect as of the end of 30 April 2014. As already reported Robert Bosch GmbH has undertaken to provide aleo solar AG with additional financial means up to EUR 50 mio. during its liquidation to enable it to be duly wound up without insolvency, should liquidity be required. The aleo solar AG management board's current assessment is that no or, at best, an economically negligible surplus will remain upon completion of liquidation.
One of the current management board member of aleo solar AG, Mr. York zu Putlitz, and in addition Messrs. Dr. Randolf Mueller, Matthias Beck und Volker Voss have been appointed as liquidators; the liquidators will substitute the management board during the liquidation process.
PricewaterhouseCoopers Aktiengesellschaft Wirtschaftspruefungsgesellschaft has been elected as auditor for the rump fiscal year ending 30 April 2014 and for the winding-up opening balance.
The general meeting also resolved that aleo solar AG will trade as "AS Abwicklung und Solar-Service AG" in the future and will relocate its registered seat to Oldenburg.
A number of motions regarding performance of a special audit were rejected by a large majority.
