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29.06.2006 00:00

Annual General Meeting approves all items on the agenda by a large majority

Option bonds and convertible bonds may now be issued in an amount of up to EUR 1.5 billion


Thalheim, June 29, 2006 - The Annual General Meeting of Q-Cells AG (QCE; WKN 555866) today approved all items on the agenda up for voting. Along with full reinvestment of the net income for 2005 in order to strengthen the Company's equity base and finance additional growth, the possibility of issuing option bonds or convertible bonds at a total face value of up to EUR 1.5 billion was approved. This type of financing, which enables repayment in  the form of shares, will give Q-Cells AG considerable room to maneuver with respect to borrowings as well as targeted acquisitions of other companies. There are no current plans to take advantage of this option for acquisitions, however. In addition, the Meeting resolved to issue bonus shares at a ratio of 1:1. Furthermore, Q-Cells AG was authorized to issue Company shares at a value of up to 10% of the share capital. The Annual General Meeting finally approved the actions of the Executive and Supervisory Boards in fiscal 2005.