Conergy AG announces results of the subscribed capital increase

Hamburg, 13 July 2011 – After the expiry of the subscription period, the results of the cash capital increase by Conergy AG passed at the extraordinary shareholders' meeting on 25 February 2011 have now been determined. During the two-week subscription period that ended on 12 July, shareholders exercised their subscription right for a total of 13,226,962 new shares with a proportionate amount in share capital in the amount of a total of € 13,226,962 at the subscription price of € 1.05 per new share. Conergy will use the net issue proceeds from the subscribed capital increase, as passed at the shareholders' meeting, to reduce loan claims from its creditors.

In a now following second step creditors of the company will subscribe to further shares against contribution of loan receivables in the context of a capital increase by contribution in kind, so that the total refinancing measure will amount to € 188 million.