REC - Results from Bondholder meeting
Sandvika, October 24, 2011: Reference is made to the Stock Exchange Notice of October 10, 2011 regarding request for bondholder meeting with respect to Bond Agreement 2009/2014 (ISIN 001 053650.1) (the "Agreement").
The meeting with the bondholders was arranged today at the offices of Norsk Tillitsmann ASA (the "Trustee").
The bondholders approved the proposal. REC ScanCell AS will resign as guarantor under the Agreement with effect from the date the lenders under the NOK 10 billion Revolving Loan Facility Agreement dated November 16, 2010 between the Issuer and the Borrower (the "RCF") give their consent to resign REC ScanCell AS as guarantor under the RCF.
The decision will be published by the Trustee at www.stamdata.no
REC is a leading vertically integrated player in the solar energy industry. Ranked among the world's largest producers of polysilicon and wafers for solar applications and a rapidly growing manufacturer of solar cells and modules, REC also engages in project development activities in selected PV segments. Founded in Norway in 1996, REC is an international solar company, employing more than 3,900 people worldwide with revenues close to NOK 14 billion in 2010. Please visit www.recgroup.com to learn more about REC.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)