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LDK Solar: Additional Information
Der teilinsolvente chinesische Solarkonzern LDK Solar kämpft um den Verbleib an der New Yorker Börse. Derzeit ist die Aktie vom Handel ausgeschlossen und die Börse plant den permanenten Ausschluss. Das Unternehmen mit Hauptsitz auf den Cayman Inseln wehrt sich dagegen. Lesen Sie dazu die Original-Meldung von LDK in englischer Sprache.
Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.
GEORGE TOWN, Cayman Islands and XINYU CITY, China and SUNNYVALE, California - LDK Solar Co., Ltd. in provisional liquidation and its Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, provided additional information on its request for a review of the decision made on March 31, 2014 by the staff of NYSE Regulation, Inc. ("NYSE Regulation") to suspend trading of the Company's American depositary shares ("ADSs") on the New York Stock Exchange (the "NYSE") and to commence delisting proceedings. A date has now been set for June 26, 2014 for a review hearing before a Committee of the Board of Directors of NYSE Regulation (the "Committee"). There is no assurance that the NYSE Regulation decision will be overturned in connection with the review process.
In its hearing request, LDK Solar also disclosed certain financial information to the NYSE relating to its fourth quarter ended December 31, 2013 based on the Company's unaudited management accounts, subject to adjustments and finalization, as follows:
"For the third fiscal quarter ended September 30, 2013 and the fourth fiscal quarter ended December 31, 2013, the Company recorded 36.5% and 74.4%, respectively, in sequential revenue growth on a quarter-by-quarter basis, and a sequential reduction in net losses of 30.2% and 22.0%, respectively, on a quarter-by-quarter basis, primarily due to increased demand for the Company's products from domestic and international solar markets. More specifically, the Company recorded net sales of $273.1 million for the fourth quarter, as compared to $156.6 million and $114.7 million for the third and second quarters of fiscal 2013, respectively, and a net loss of $104.1 million for the fourth quarter, as compared to $127.0 million and $165.3 million in net losses, respectively, for the third and second quarters of fiscal 2013."
As disclosed earlier, the Company's ADSs are currently trading on the OTCQB market under the symbol "LDKSY" while trading is suspended on the NYSE.
About LDK Solar in provisional liquidation
LDK Solar Co., Ltd. in provisional liquidation is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com.
SOURCE: LDK Solar Co., Ltd.
Company in provisional liquidation: Lisa Laukkanen, The Blueshirt Group for LDK Solar, [email protected], +1-415-217-4967; or Jack Lai, Executive VP and CFO, LDK Solar Co., Ltd., [email protected]; or Provisional Liquidators: Tammy Fu, Zolfo Cooper (Cayman) Limited, Cayman Islands, or Eleanor Fisher, Zolfo Cooper (Cayman) Limited, Cayman Islands, [email protected], +1-345-946-0081; or Financial Advisor to Company (in provisional liquidation): Augusto King, Jefferies LLC, [email protected], or Steven Strom, Jefferies LLC, [email protected], or Richard Klein, Jefferies LLC, [email protected]; or Legal Advisors to Company (in provisional liquidation): Thomas Albrecht, Sidley Austin, [email protected], or Timothy Li, Sidley Austin, [email protected]; or Guy Manning, Campbells, [email protected], or Mark Goodman, Campbells, [email protected]; or Financial Advisor to Senior Notes Holders: Brandon Gale, Houlihan Lokey, [email protected]; or Legal Advisor to Senior Notes Holders: Daniel Anderson, Ropes & Gray, [email protected]
Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.
GEORGE TOWN, Cayman Islands and XINYU CITY, China and SUNNYVALE, California - LDK Solar Co., Ltd. in provisional liquidation and its Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, provided additional information on its request for a review of the decision made on March 31, 2014 by the staff of NYSE Regulation, Inc. ("NYSE Regulation") to suspend trading of the Company's American depositary shares ("ADSs") on the New York Stock Exchange (the "NYSE") and to commence delisting proceedings. A date has now been set for June 26, 2014 for a review hearing before a Committee of the Board of Directors of NYSE Regulation (the "Committee"). There is no assurance that the NYSE Regulation decision will be overturned in connection with the review process.
In its hearing request, LDK Solar also disclosed certain financial information to the NYSE relating to its fourth quarter ended December 31, 2013 based on the Company's unaudited management accounts, subject to adjustments and finalization, as follows:
"For the third fiscal quarter ended September 30, 2013 and the fourth fiscal quarter ended December 31, 2013, the Company recorded 36.5% and 74.4%, respectively, in sequential revenue growth on a quarter-by-quarter basis, and a sequential reduction in net losses of 30.2% and 22.0%, respectively, on a quarter-by-quarter basis, primarily due to increased demand for the Company's products from domestic and international solar markets. More specifically, the Company recorded net sales of $273.1 million for the fourth quarter, as compared to $156.6 million and $114.7 million for the third and second quarters of fiscal 2013, respectively, and a net loss of $104.1 million for the fourth quarter, as compared to $127.0 million and $165.3 million in net losses, respectively, for the third and second quarters of fiscal 2013."
As disclosed earlier, the Company's ADSs are currently trading on the OTCQB market under the symbol "LDKSY" while trading is suspended on the NYSE.
About LDK Solar in provisional liquidation
LDK Solar Co., Ltd. in provisional liquidation is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com.
SOURCE: LDK Solar Co., Ltd.
Company in provisional liquidation: Lisa Laukkanen, The Blueshirt Group for LDK Solar, [email protected], +1-415-217-4967; or Jack Lai, Executive VP and CFO, LDK Solar Co., Ltd., [email protected]; or Provisional Liquidators: Tammy Fu, Zolfo Cooper (Cayman) Limited, Cayman Islands, or Eleanor Fisher, Zolfo Cooper (Cayman) Limited, Cayman Islands, [email protected], +1-345-946-0081; or Financial Advisor to Company (in provisional liquidation): Augusto King, Jefferies LLC, [email protected], or Steven Strom, Jefferies LLC, [email protected], or Richard Klein, Jefferies LLC, [email protected]; or Legal Advisors to Company (in provisional liquidation): Thomas Albrecht, Sidley Austin, [email protected], or Timothy Li, Sidley Austin, [email protected]; or Guy Manning, Campbells, [email protected], or Mark Goodman, Campbells, [email protected]; or Financial Advisor to Senior Notes Holders: Brandon Gale, Houlihan Lokey, [email protected]; or Legal Advisor to Senior Notes Holders: Daniel Anderson, Ropes & Gray, [email protected]