aleo solar Annual General Meeting endorses Management Board's strategy

17.06.2010 - Press release
aleo solar AG today announced that its shareholders on Thursday very clearly endorsed the Management Board's strategy at the Company's fourth Annual General Meeting (AGM). The actions of both the Management Board and the Supervisory Board were formally approved by a large majority. All other proposed resolutions were also adopted by a large majority of at least 99 percent. It was resolved to retain aleo solar AG's accumulated profits within the company to broaden the basis for its further growth. The shareholders also adopted the existing anticipatory resolution to increase the Company's share capital if necessary. This can take place with the approval of the Supervisory Board once or repeatedly by up to EUR 6,515,200.00 by issuing up to 6,515,200 new no-par value shares with a pro-rata interest in the share capital of EUR 1.00 each in return for contributions in cash or in kind. As there are no concrete plans to utilise the authorised capital, the measure is intended to enhance the Company's flexibility.

"We have experienced a very strong first quarter in 2010, and this strong revenue trend has continued through April and May”, informed York zu Putlitz, aleo solar AG's Chief Executive Officer, shareholders about the strong business performance in 2010. He claims for a clear course by the German government regarding the feed-in tariff. "However, to avoid a slump in orders this summer, the German government must do its part and at last make a decision that will give us confidence to plan ahead."

The announced cuts effected order predrawings which had a positive influence on the Company’s business in the german market added Chief Sales Officer Norbert Schlesiger. He stressed the importance of internationalisation for the Company's business: "In the second half of the year, we will be increasing our focus on our international markets, including our southern European core markets such as Italy, France and Greece. But we have also entered the UK market, where an attractive feed-in tariff was introduced in April 2010.”

York zu Putlitz, CEO of aleo solar AG, summed up as follows: "The AGM endorsed our strategy: strength in sales, internationalisation, high quality and a strong brand will continue to ensure our future success."