Solarvalue pulls a Secondary
Neutral event for almost all shareholders
Gartmore Investment Limited,
What does this mean for investors and the Solarvalue Balance Sheet? A secondary offering is stock sold by an existing shareholder (or shareholders) not by the company itself. Given that Solarvalue’s total capital stock is 840,000 shares, ten percent (10%) of those shares is 84,000, and if the going rate is about €40 per share, the approximate value of the transaction is at least €3,360,000. The proceeds of the transaction benefit the shareholder, who I presume is Dr. Karoly Horvath, and are a wash for Solarvalue.
Since Gartmore will look at this as a long term investment, shareholders are not impacted, although the investment will be viewed as a validation of Solarvalue’s prospects. Solarvalue continues to demonstrate the ability to monetize their equity story even before delivering their first sample of Solar Grade Silicon.
I missed the recent press release, Solarvalue Business Report 2006 now available, along with English translations from the Annual General Meeting:
Speech by CEO Claudia Boehringer at the Annual General Meeting on 27 April 2007 in Berlin and Summary of the Results of the Ordinary Shareholders' Meeting of Solarvalue AG on 27th April 2007 in Berlin.
I just got out of the Solar Promotion PV Industry Forum 2007 here in Freiburg im Breisgau. Anything and everything Solar is hopping in