Solarstrom holders convert €1.54 million of 6.25% convertibles

By Angela McDaniels

Tacoma, Wash., April 18 - S.A.G. Solarstrom AG said holders elected to convert €1,542,000 of its 6.25% convertible bonds due 2012 during a special conversion period that ran from April 4 through April 15.

Specifically, the conversion option was exercised for 3,084 partial convertibles with a nominal amount of €500 each.

The partial convertibles will be exchanged for 601,380 shares with a prorated amount of €2.56 of the share capital, according to a company news release. The company's shares closed at €4.70 (Xetra: SAG) on Friday.

Solarstrom is a Freiburg, Germany-based company that constructs and operates solar power plants and installations.

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