Sunways AG: Banks terminate credit facilities

Konstanz (pta019/23.04.2013/11:35 UTC+2) Konstanz, 23 April 2013 - In the second quarter of 2012, the Sunways Group agreed on credit facilities in the total amount of Eur 6.6 million with its current account lenders for the period up until September 2013. Against the background of the current economic situation of the photovoltaics industry and of the company, the lending banks have now exercised their extraordinary termination rights and initiated the enforcement of the collateral provided by Sunways. Notwithstanding the foregoing, the Management Board of Sunways AG keeps up negotiations on the repayment of the loan amounts drawn down at the time of such termination to secure the company's continued existence.

Due to the negotiations with banks and creditors affecting the future funding of the Sunways Group the publication of the 2012 financial statements and consolidated financial statements as well as the other documents relating to the annual financial report due April 30, 2013 has been postponed. The publication of the Group's interim management statement in the first half of the business year 2013 will also be postponed. New dates for the release of the mentioned financial reports as well as a date for the annual general meeting will be announced as soon as possible.

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Emitter:	Sunways AG Max-Stromeyer-Str. 160 78467 Konstanz Germany
Contact Person:	Dr. Harald F. Schäfer
Phone:	+49 (0)7531 996 77-415
E-Mail:	communications@sunways.de
Website:	www.sunways.eu/en
ISIN(s):	DE0007332207 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart