Kahl am Main, 21.09. 2017 – SINGULUS TECHNOLOGIES Aktiengesellschaft gives notice of a loss pursuant to Section 92 (1) of the German Stock Corporation Act. The HGB Interim Financial Statements of SINGULUS TECHNOLOGIES Aktiengesellschaft at 31 August 2017 showed a loss for the financial year in progress of EUR 16.7 million, as a result of which more than half the capital stock was used up. HGB equity at 31 August 2017 amounts to EUR 3.7 million, compared with EUR 20.4 million at 31 December 2016. The loss results principally from the delayed recognition of revenue under HGB. According to the principles of HGB, revenue is only to be realized after the final acceptance of the supplied systems. For the most part acceptance of the systems supplied for the new plant for CIGS thin-film solar cells in China will not take place until the start of the next financial year, when according to HGB rules it will then make a substantial positive contribution to the corporate result.
The Management Board of SINGULUS TECHNOLOGIES Aktiengesellschaft will immediately call an Extraordinary General Meeting. At this meeting, the Management Board will give notice of the loss amounting to half the capital stock and present the situation of the company. The invitation to the Extraordinary General Meeting including the agenda will be communicated in accordance with the time limits and formal requirements.
Once the General Meeting has been announced the invitation can equally be accessed on the website of SINGULUS TECHNOLOGIES Aktiengesellschaft at www.singulus.de, in the “Investor Relations” section, under the “General Meeting” link (http://www.singulus.de/de/investor-relations/hauptversammlung.html).
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
63796 Kahl am Main, Germany,
New shares: WKN A1681X / ISIN DE000A1681X5
Contact:
Maren Schuster, Investor Relations, Tel.: + 49 (0)160 9609 0279
Bernhard Krause, Corporate Communications, Tel.: + 49 (0)170 9202924
E-mail: bernhard.krause@singulus.de