Ralos New Energies AG
Capital increase through conversion of liabilities

BGI EcoTech AG / Miscellaneous

02.12.2009 

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Corporate News from 2 December 2009

BGI EcoTech AG: Capital increase through conversion of liabilities

  - EUR 9.45 million liabilities converted into equity - a further EUR
    2.595 million in acquisition and other liabilities refinanced by
    issuing shares

  - Issue price for all these shares is EUR 10 per share

  - Extraordinary general meeting scheduled for 14 January 2010 - change 
    of company name to Ralos New Energies AG proposed

  - Interim announcement published

  - Stefan Kuhl (CFO) has resigned for personal reasons

Kassel/Griesheim, 2 December 2009: BGI EcoTech AG today announced a series
of equity-strengthening measures.

Firstly, BGI EcoTech has made full use of its option to convert the
liability due to ING Bewaar Maatschappij VII B.V into equity. As stated in
the Corporate News from 21 September 2009, loan financing for the Ralos
acquisition of approximately EUR 9.65 million (bridge loan including
interest) was converted into equity by issuing 964,909 shares (at an issue
price of EUR 10 per share). ING's stake in BGI has thus risen to 27.6%. The
number of shares now amounts to 5,257,159.

Secondly, the company has entered into agreements to settle in full further
liabilities mainly from the acquisition of the Ralos Group amounting to
approximately EUR 2.595 million, by issuing shares from future authorised
capital. The issue price for these shares has likewise been fixed at EUR 10
per share.

After these liabilities have been converted into equity, the number of
shares will amount to 5,516,679.

The company also announced that an extraordinary general meeting will be
convened for the 14th of January 2010 in Frankfurt. As well as the approval
of further capital and some updates to the Articles of Association, the
agenda includes agreement to the change of the company name to 'Ralos New
Energies AG'. The Board of Directors believes that the new name expresses
the company's focus on the world-wide renewable energy market by using the
well-established 'Ralos' brand.

BGI EcoTech AG has published an interim announcement ('Zwischenmitteilung')
in the context of further strengthening communication with investors. This
again highlights that the company aims to meet the requirements of the
regulated market now. It still plans to list its shares on this market
segment in the coming year.

Stefan Kuhl has stepped down from his position as Chief Financial Officer
for personal reasons, with immediate effect. Albert Klein (CEO) will assume
his responsibilities until a new CFO is appointed. Until then, Stefan Kuhl
will support the company in an advisory capacity. The Supervisory Board and
Board of Directors thank Stefan Kuhl for his contribution.

 

Board of Directors and Supervisory Board 



About BGI EcoTech AG: 

BGI EcoTech AG is a company specialising in the renewable energies growth
market, with a particular focus on photovoltaic systems. BGI EcoTech AG,
which was founded in 1990, operates as a holding company. With subsidiaries
and distribution companies in Germany, Austria, Spain, Italy, Canada, Czech
Republic and Dubai, BGI is represented in the most important and
potentially fastest growing markets worldwide. The company's largest
holding is Ralos Group, one of Europe's leading premium system solutions
providers in the photovoltaic field.

The company develops, plans, constructs and operates innovative
photovoltaic plants, the capacity of which ranges from private solar power
systems to powerful large-scale power plants of all sizes.



Contact:
Company contact:
 
BGI EcoTech AG
Kuhbergstraße 28
34131 Kassel      
Tel.: +49 (0) 561 93 87 70 
Fax: +49 (0) 561 31 24 51 
info@bgi-ecotech.de
www.bgi-ecotech.de



Investor relations contact:

GFEI Aktiengesellschaft
Hamburger Allee 26-28 
60486 Frankfurt am Main
Tel.: +49 (0) 69 74 30 37 00
Fax: +49 (0) 69 74 30 37 22
bgi-ecotech@gfei.de
www.gfei.de





02.12.2009  Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      BGI EcoTech AG
              Kuhbergstr. 28
              34131 Kassel
              Deutschland
Phone:        +49 (0)561-93 87 70
Fax:          +49 (0)561-93 87 744
E-mail:       info@bgi-ecotech.de
Internet:     www.bgi-ecotech.de
ISIN:         DE0005203004
WKN:          520300
Listed:       Freiverkehr in Berlin, Stuttgart; Entry Standard in Frankfurt
 
End of News                                     DGAP News-Service
 
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