The installation will cover a roof surface area measuring circa 11,000 sq. meters and annually produce circa 1,155,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the course of 20 years. Over this same period, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 6.9 MSEK (ca. 0.69 MEUR), and it is expected to be completely installed during January 2019.
CEO Stefan Ölander comments:
” The business situation in China continues to be favorable. And, above and apart from the prospect of good income over a very long period of time, I take pride in the contribution we are making toward the environment. This solar installation alone reduces the charge of 1,155 tons of carbon dioxide into the atmosphere every year (at the rate of 1 kg per kWh). Or considered from another perspective: In effect, this installation is equivalent to planting 110,000 trees (10 trees per m2). ”
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 8 October 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
According to Benders, the roofs of about 30,000 homes are replaced every year and, in addition to roof replacements, there is also the construction of approximately 12,000 new modest single-family houses. SolTechRoof is perfectly suited to customers who wish to have a solar-energy solution that is, at the same time, an esthetically pleasing roof. Moreover, when compared with a roof supporting an unattractive, add-on solar energy unit, SolTechRoof is not only competitively priced, but also raises the value of the house.
Today, the private market for solar energy is dominated by silicon solar cells mounted on top of an existing roof. These installations fall a long way short of esthetically pleasing and many homeowners shy away from compromising the appearance of their home by having them mounted. Sol Tech Energy has – since its very inception – applied itself to the goal of creating esthetic and building-integrated solar energy solutions. Two years ago, SolTech ShingEl was launched – and now comes the launch of its successor, SolTechRoof, which is larger and has an attractive price per installed kvm/watt.
SolTech RooF is environmentally smart and designed from an eco-design perspective. This means, beginning as early as the concept phase, we have consciously worked on ensuring that, when the time comes to replace it, the product will be fully recyclable, which is both climate smart and economical from start to goal. SolTech RooF is constructed to be fully integrated with the roof, with a sub-frame identical that used for common roof tiles. The concept makes production easy and cost-effective to install.
CEO Stefan Ölander comments:
– I am proud and very pleased that we are now launching an optimized successor to SolTech ShingEl, which is built on the same concept, though smaller. Traditional, outside-mounted solar cell units are clearly still selling the most, true. But everyone within the solar energy field, both in Sweden and internationally, agree that esthetic and building-integrated solar cells will very soon be taking large markets shares. We at SolTech Energy stand ready to meet that demand.
For more information please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070 -739 80 00, email: stefan.olander@soltechenergy.com
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
The installations will cover a surface measuring circa 17,000 sq. meters (roughly equivalent to 2.5 football fields) and produce circa 2,000,000 kWh annually. The customer is contractually committed to buying all the electricity the respective installations produce over the course of 20 years. During the same period, ASRE receives subsidies from the Chinese authorities, based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installations, which continue to be owned by ASRE, amounts to approximately 10.7 MSEK (ca. 1.07 MEUR). Both installations are expected to be completed during January 2019.
CEO Stefan Ölander comments:
”These orders come under the our previously released annoucement of a five-year cooperation agreement (general agreement) with the local government in the city of JinCheng concerning the installation of 50 MW of solar energy capacity. JinCheng is located southeast of Peking in the ShanXi region, which is one of China’s coal districts. Helping them obtain a more sustainable energy mix is something we are extra proud of.”
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 4 October 2018, 08:00 CET..
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The installation will cover a roof surface measuring circa 35,000 sq. meters (about the surface area of five football fields) and produce circa 3,675,000 kWh annually. The customer is contractually committed to buying all the electricity the installation produces over 20 years. Over that same period of time, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 22 MSEK (ca. 2.2 MSEK (0.2 MEUR). It is expected to be completed during December 2018
CEO Stefan Ölander comments:
”Our new customer is a textile factory in Zgangjiagang, which – by Cinese standards – is a small city with about 1.5 million citizens. The city lies 160 kilometers north of Shanghai and we are very pleased about getting more and more customers in this vast region.”
FOR MORE INFORMATION, PLEASE CONTACT: Stefan Ölander, CEO SolTech Energy
Telephone: 070–739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 24 September 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The installation will cover a roof surface measuring circa 5,000 m2 and annually produce ca. 500,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the 20-year term. Over the same period, ASRE receives subsidies from Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 3 MSEK (0.29 MEUR). The installation is estimated to be completed during the month of December 2018.
CEO Sefan Ölander comments:
– Shaoxing is a city with 4 million citizens, located in the northeastern section of ASRE’s home-province, Zhejiang. To lend some perspective on the extensive business possibilities in Shaoxing, a Chinese city that most Swedes are totally unaware of, it is four times the size of Stockholm. We continue to expand in China according to plan, with a definitive feeling of strong support from the authorities.
For more information, please contact: Stefan Ölander, CEO SolTech Energy. Tel: 070 739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 6 September 2018, 08:30 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 95 MEUR).
Proposals and Decisions
The extraordinary general meeting decided to approve the board of director’s proposals as presented in the notice of the meeting with respect to:
- The decision to appoint a new chairman of the board of directors, Frederic Telander
- The decision concerning a changed subscription period with respect to an earlier decided options program.
The extraordinary general meeting’s protocol, with complete decisions, will be accessible on the company’s website: www.soltechenergy.com
__________________________________________________________________________________________
FOR MORE INFORMATION, PLEASE CONTACT:
Stefan Ölander, CEO SolTech Energy Sweden AB (publ.). Telephone: 070–739 80 00, email: stefan.olander@soltechenergy.com For more information see: www.soltechenergy.com.
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 31 August 2018, 11:00 CET.
SolTech Energy Sweden AB (publ) in brief SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Background
ASAB’s owners, SolTech and Advanced Solar Power Hangzhou Inc. (ASP), find that, in today’s situation, alternative financing solutions for the Chinese operation are more favorable than an issue of shares with attendent listing. A wait and see policy has also provided time for the building of an even more solid platform to base the introduction on, with both sales as well as profits having risen notably higher. ASAB’s introduction on the stock exchange will aim to facilitate the further financing of growth in China, partially by the separate, ongoing development of SolTech and ASP’s respective operations, and partially by creating better transparency and comprehension of the Chinese business operation.
Follow up of the financing strategy from October 2017
The result of SolTech’s financing strategy that was released in October 2017 is as follows:
Over the period 9 January–18 July 2018, SolTech’s Chinese business operation, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE), has coupled solar installations with a sum total capacity equivalent to 15.5 megawatts (MW) to the central electric network, and has also taken over a 12.7 MW installation from SolTech’s Chinese partner ASP. As of this writing, ASRE now has a total capacity of 52.21 MW coupled to the electrical network in China. On a cumulative, 12-month rolling basis, this capacity generates income amounting to approximately 70 MSEK (7 MEUR) annually. In addition, ASRE has 2.73 MW under construction, a backorder log totaling 25.24 MW, and a 95 MW pipeline project that is continuously being worked on.
To date, the above capacity has been financed as outlined below
The jointly owned (51% SolTech and 49% ASP) Swedish subsidiary ASAB carried out, during the spring of 2018, its first new bond issue with proceeds amounting to 65.5 MSEK, whereof 6.1 MEUR (ca. 58.5 MSEK) were loaned out to ASRE
- In the identically proportioned, jointly held Chinese company, ASRE, SolTech and ASP have thus far, and in proportion to their ownership, invested 19 MEUR (ca. 180 MSEK) of their own capital that was provided to ASRE.
- During the first quarter of 2018, ASAB carried out a new green bond issue directed to the general public amounting to 128 MSEK. These funds have been loaned out to ASRE.
- Instead of the above-discussed introduction of ASAB on the stock exchange during the second quarter of 2018, an additional green bond, amounting to 148 MSEK, was issued to the general public. The major portion of the liquidity afforded by this issue was furnished to ASRE. A smaller, remaining portion is under registration in China and will soon be provided without restriction.
- In addition, ASRE has obtained loans totaling 34 MSEK from the Bank of China and negotiations with a further number of Chinese bankers and credit institutions are ongoing.
The financing strategy in place up to the late fall of 2019
ASRE intends to finance the remaining part of 2018’s capacity goal, as well as 2019’s, by:
- Continuing the issue of green bonds in ASAB, as they have proven to be very successful.
- Additional bank loans.
- Selling selected parts of the installation portfolio in accord with previously announced strategy.
- Direct injections of capital in ASRE, which are primarily expected to come from the above-discussed stock exchange listing of ASAB.
It is the Board of Directors’ judgment that, with implementation of the above financing measures, the stock market value of SolTech should develop in a positive direction, more specifically; in pace with the increased sales and profit of the Chinese business operation – but also: As the commercialization of SolTech ShingEl and other SolTech products starts to speed up, so too should the company’s stock market value.
For more information, please contact: Frederic Telander, CEO SolTech Energy och Advanced SolTech Sweden. Tel: 08-441 88 46, email; frederic.telander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 15 August 2018, 10:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
Advanced SolTech Sweden AB (publ) – ASAB For the express purpose of financing investment in China, the SolTech concern’s parent company and its partner in China, Advanced Solar Power Hangzhou Inc., have formed ASAB. ASAB’s business operation is centered on financing the construction of solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned subsidiaries. As security for said loaned out funds, ASAB holds contractual claim to underlying assets (solar energy installations and customer receivable accounts). The company’s Certified Advisor is Mangold Fondkommission AB. Tel: +46 8 5030 1550. For more info, see: www.advancedsoltech.com.
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 95 MEUR).
Growth in SolTech’s business operation in China in 2017 was approximately 600 percent. Frederic Telander has gradually, in pace with the growth of the concern’s business operation in China, devoted more and more of his time to this important part of SolTech. Particularly notable in this regard has been the task of financing ASRE, SolTech’s jointly owned Chinese subsidiary, via SolTech’s jointly held Swedish subsidiary, Advanced SolTech Sweden AB (ASAB), which has required nothing less than full-focused attention. Hence, parallel with becoming chairman of the board as of August 31, Frederic will continue on as CEO of ASAB. The intent here is to further develop ASAB to the point of becoming the parent company of the SolTech concern’s business operation in China, in accord with previously published plans.
Stefan has been a SolTech Energy investor and board member since 2011, and chairman of the board since 2013. For the past two years, Stefan has worked fulltime as chairman of the board of directors, with responsibility for brand-name/trademark issues, business development and communication. Stefan’s special focus areas are marketing, as well as brand-name/trademark and company building. He has a background as director of communications within both SEB and Kinnevik. In addition, he has grounded and been the CEO of Rewir up until 2010. Rewir became Sweden’s foremost trademark/brand-name bureau – and in 2006, he sold the company to the exchange-listed Intellecta-concern. Since June of 2011, Stefan has been a board member and owner in Zacco, a leading consulting firm within IP (Internet protocol) in Europe, with approximately 700 MSEK (70 MEUR) in sales. Including both private and company held stock, Stefan owns 1,178,952 shares in SolTech Energy AB (publ.).
Frederic Telander comments:
– Stefan and I have worked closely with each other ever since he entered SolTech as an investor, a productive relationship that we will also continue to hold after this change of roles. With a view to gaining market shares in other parts of the world by introducing our ShingEl and other products, as we now do in Sweden and Europe, Stefan’s taking over the roll of CEO, with his uniquely apt areas of top competence, is clearly logical. As chairman of the board of directors, and with strong personal relationships in China, I am going to be focusing even more attention on the building of a long term, robust Chinese power company based on solar energy.
Stefan Ölander comments:
– I’m looking forward to centering attention, together with my colleagues, on all SolTech’s strengths and building a successful and profitable Company. Making a definitive difference, both for the environment and for our shareholders, is my foremost goal.
For more information, please contact: Stefan Ölander, Chairman of the Board SolTech Energy. Tel: 070-739 80 00, email; stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 8 August 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
Participation
Shareholders who wish to participate in the extraordinary general meeting shall:
- Be entered in the Euroclear Sweden AB shareholder book no later than Thursday, August 23, 2018 (for nominee registered shares, also see ”Nominee shares” below), and
- notify the Company no later than Monday, August 27, 2018, by ordinary post addressed to: SolTech Energy Sweden AB (publ) / Extraordinary general meeting / Upplagsvägen 1 / 117 43 Stockholm; or via email to: info@soltechenergy.com. In the notification the shareholder shall provide name and personal identification number, or the firm and organization number. In addition, the relevant address, telephone number, total shares owned, and the total probable number of assistants (highest two) are also required.
Nominee Shares
In order to participate in this extraordinary general meeting, shareholders, who have their shares nominee-registered through a bank or other nominee, must request that their shares be temporarily registered in their own name with Euroclear Sweden AB. Shareholders wishing to obtain such temporary registrations must inform their nominee administrator of this in a timely manner before August 23, 2018, on which date – at the latest – such registrations must be carried out.
Proxy agents, and more
Shareholders may choose one or several agents. Shareholders who are represented by an agent/s must draw up a written and dated power of attorney for said agent/s. The power of attorney is in effect no longer than one year from the date it was issued, unless the power of attorney particularly specified a longer expiration date; this extended expiration date, however, cannot exceed five years from the day the power of attorney was issued. A power of attorney made out by a certified legal representative requires the attachment of authorization documentation (registration proof or the equivalent). The original power of attorney, along with possible authorization documentation, should be sent in a timely manner prior to the shareholders general meeting to: SolTech Energy Sweden AB (publ) / Extraordinary general meeting / Upplagsvägen 1 / 117 43 Stockholm. The power of attorney/proxy form is accessible on the Company’s website: www.soltechenergy.com.
Proposed agenda
- The meeting’s opening
2. Selection of the meeting’s Chairman
3. Establishment and approval of the electoral roll
4. Approval of the agenda
5. Selection of one or two recorders of the minutes
6. Review of whether the meeting has been duly convened
7. Decision on the appointment of a new Chairman of the Board of Directors
8. Decision on the changed subscription period with respect to previously decided options programs
9. The meeting’s close
Decision proposals
Point 2 – Selection of the meeting’s Chairman
Shareholders representing 7.55 percent of the votes propose that Göran Starkebo be elected Chairman of the meeting.
Point 7 – Decision on appointing a new Chairman of the Board of Directors
Shareholders representing 7.55 percent of the votes propose that Frederic Telander be elected Chairman of the Board.
Point 8 – Decision on the changed subscription period with respect to previously decided options programs
Shareholders representing 7.55 percent of the votes propose that the subscription period of the previously decided options programs be changed. The previous period, February 1- 10, is moved to June 1-10 in order to avoid a situation where such a subscription period collides with a quiet period, which has previously been the case.
Provision of documents
Documents to this meeting, including the Board’s complete proposals as cited above, will be accessible at the Company’s office for a period of at least three weeks before the general meeting and will be shipped – cost-free – to shareholders who give notification they wish to obtain such information from the Company. Over the same period, all documents will also be accessible on the Company’s website, www.soltechenergy.com.
Information concerning total number of shares and votes, as well as holding of own shares
The total number of shares and votes in the Company, at the time point this call for an extraordinary general meeting was made, was 42,418,697: All issued shares have equal vote value. The Company holds none of its own shares.
Majority requirement
The decisions given in points 7-8 above are only in effect if they have been ratified by the shareholders with two thirds of both the decided votes, as well as those represented by the shares at the general meeting.
The shareholders’ right to request information
The Board of Directors and the Executive Director shall – if one or another of the shareholders request it, and the Board considers that it can be done without causing fundamental harm to the Company – at the general meeting, provide information about conditions that can affect the evaluation of an item on the meeting’s agenda and/or conditions that can affect an assessment of the Company’s economic situation. The obligation to disclose information also applies to the Company’s relationship to other affiliated companies and the concern’s consolidated financial statements, as well as the disclosure of such above-cited conditions as they affect subsidiaries.
For more information, please contact: Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46. email; frederic.telander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 8 August 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) (ASAB) in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
CEO Frederic Telander comments:
– As we released on June 1, 2018, the coupling of our additional completed installations to the electrical network in China was near at hand. Here are two of them.
For more information, please contact: Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 2 July 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with ca. 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China (below is more info on ASRE). The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installation, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (100 MEUR).