SolarWorld losses prompt extraordinary shareholder meeting

Struggling PV manufacturer SolarWorld will hold an extraordinary shareholders’ meeting on 11 July 2013 in Bonn, Germany, after the company revealed a 50% loss in capital stocks.

On 30 April, SolarWorld published its financial results for its 2012 fiscal year. The unaudited results revealed losses totalling €38.3 million (US$49.5 million) for the year which will not be covered by the company’s equity. As a result, the company has incurred a loss of 50% of its capital stock.

During the extraordinary shareholders' meeting, the management board will discuss the financial results and report on the status of the company’s restructuring process.