FINAL VERSION Press release to be released Wednesday April 21th 2010 Announcement for EGM DE/RE Plc April 23rd 2010. As indicated in the earlier announcement DE/RE Plc, in an Extraordinary Shareholders Meeting (EGM) to be held in London on April 23rd 2010, will change its name in SOLARMAG Plc and will transfer its remaining activities into a new legal entity to be named DERE Group Plc. SOLARMAG has obtained a right of first refusal on the various solar projects developed by DE/RE Plc. New management of Solarmag (ex DERE) has extensive experience and knowledge of the Solar energy market in Southern Europe especially of the Spanish market. The new management will capitalise on that market knowledge in the interest of the shareholders and will present a business plan for the acquisitions of electricity producing solar plants in Spain. Further information will be available to the shareholders of Solarmag Plc in the near future. After resignation from DE/RE, the current management of DE/RE will concentrate on the transfer of non-solar projects to the new entity DERE Group Plc. DERE Group Plc will be listed on the open market in Frankfurt with full trading on Xetra. After successful completion of the transaction, to be announced after the EGM of DE/RE Plc., current shareholders of DE/RE Plc will receive a distribution of one share in DERE Group Plc (new) per each share currently held in the company. Management expects that current shareholders of DE/RE Plc will experience both an increase in net asset value on the outstanding shares compared with this value as reported per 31 December 2008 as well as a profit contribution from the new solar activities over the current bookyear. Financials on the book year of SOLARMAG Plc (ex-DE/RE Plc) will be available in the course of May 2010. New activities and projects of DERE Group Plc will be announced in a separate business update. For more information: www.dere-group.com Contact: info@dere-group.com London, April 20th 2010 |
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