Key Developments: REC Silicon ASA (REC.OL)

REC.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Rec Silicon chairman buys 2 mln shares at nok 1.79/shr
Monday, 22 Dec 2014 02:19am EST 

Rec Silicon ASA:Says Kagra Gruppen, a company controlled by chairman of the board Jens Ulltveit-Moe, has on Dec. 19 bought 2 mln shares in the firm at NOK 1.7905 per share.After the transaction Jens Ulltveit-Moe and associated companies have a total holding of 536.201.902 shares (including 35.329.541 shares on forward contracts) - equivalent to 23.17% - in REC Silicon.  Full Article

Rec Silicon ASA maintains Q4 2014 financial outlook
Wednesday, 17 Dec 2014 01:00am EST 

Rec Silicon ASA:Q4 2014 operations are anticipated to be broadly in line with previous guidance.Expects Q4 2014 EBITDA will be about $35 million- 40 million.says earnings from FBR Polysilicon will be negatively affected in short term.  Full Article

Rec Silicon launches new high-performance solar panels
Thursday, 25 Sep 2014 06:37am EDT 

Rec Silicon ASA:Says launches high-performance TwinPeak Series solar panels for major rooftop markets worldwide.Says production expected to begin in Q1 2015.Says new panels to be rated up to 275 watt peak (Wp), resulting in 17 percent panel efficiency.Says targets rooftops in the growing residential, commercial, and industrial markets.  Full Article

Rec Silicon targets polysilicon production of about 4,350 MT in Q2
Friday, 9 May 2014 01:02am EDT 

Rec Silicon ASA:Targets Q2 polysilicon production of about 4,350 MT.Says the increase compared to Q1 (3,979 MT) is primarily due to the extended outage in Q1 (Silane IV).During Q2 maintenance has been scheduled for Silane III.Based on conditions identified in Silane IV the Silane III outage has been extended to compensate.  Full Article

Rec Silicon proposes no dividend for FY 2013
Friday, 11 Apr 2014 12:07pm EDT 

Rec Silicon ASA:Proposes that no dividend be paid for FY 2013.Paid no dividend for FY 2012.  Full Article

Rec Silicon's subsidiaries enter joint venture partnership in China
Wednesday, 26 Feb 2014 03:14am EST 

Rec Silicon ASA:Says REC Silicon AS and REC Silicon Inc, have entered into agreements with Shaanxi Non-Ferrous Tian Hong New Energy Co. governing a joint venture partnership that will expand operations into China.REC Silicon Inc and the Chinese partner have entered into joint venture agreements for the formation of a production joint venture and a sales joint venture.REC Silicon Inc and the Chinese partner have entered into a technology transfer agreement, governing the terms under which REC Silicon Inc will transfer the exclusive, non-transferrable right to use its technology in China and Taiwan to the production joint venture.The production joint venture will construct and operate a new plant for the production of silane gas, solar and electronic grade polysilicon.The plant will be located in Yulin, the Shaanxi Province, and is expected to have capacity of 18,000 metric tons of granular polysilicon, an additional 1,000 metric tons of Siemens polysilicon, and 500 metric tons of silane gas loading.REC Silicon expects to receive upfront payments from the Chinese partner, totaling $198 million (net of taxes) in March and August.REC Silicon will contribute $244 million to acquire a 49 pct equity interest in the production joint venture.The sales joint venture will be established close to the start up of the production joint venture.The term of the sales joint venture is six years, and each party will own a 50 pct equity interest.  Full Article

REC Silicon ASA extends sales contract
Tuesday, 3 Dec 2013 02:40am EST 

REC Silicon ASA:Says it has entered into an amendment to extend a sales contract for delivery of high purity electronic grade polysilicon from the Butte facility.Delivery under the extended two year contract will start in the beginning of 2014, and has an estimated value of $70 mln.  Full Article

REC Silicon ASA has Jens Ulltveit-Moe as Chairman
Friday, 29 Nov 2013 07:39am EST 

REC Silicon ASA:Says Jens Ulltveit-Moe was appointed to the company's Board of Directors.He replaces Mimi Berdal as Chairman.  Full Article

Umoe AS Increases Stake in REC Silicon ASA
Wednesday, 30 Oct 2013 08:15am EDT 

REC Silicon ASA (REC) announced that Umoe AS has acquired 80 million shares in the Company at a price of NOK 3.00 per share. As a result of the transaction, Umoe holds directly a total of 438,105,052 shares in REC and controls 37,869,280 shares in the Company through forward contracts, in total corresponding to 20.58% of REC's share capital.  Full Article

Renewable Energy Corp ASA Announces Name Change To REC Silicon ASA
Thursday, 24 Oct 2013 05:24am EDT 

Renewable Energy Corporation ASA announced that at the general meeting held on September 23, 2013 the Company resolved to change the Company's name to REC Silicon ASA. The new company name is registered in the Norwegian Register of Business Enterprises.  Full Article

REC Silicon Q4 core earnings in line in forecasts, sees soft Q1 demand

OSLO, Feb 13 - Norwegian solar firm REC Silicon said global demand in the solar industry is expected to continue to grow in 2015 but warned of soft demand in first quarter as it reported fourth-quarter core earnings broadly in line with forecast on Friday.

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