19 August 2009 – Solar Integrated Technologies, Inc. (“SIT” or the “Company”) (AIM:SIT.LN), a leading provider of building integrated photovoltaic (BIPV) roofing systems, announced today that stockholders approved the Company’s proposed merger with Energy Conversion Devices, Inc. (“ECD”) (NASDAQ: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets.
At the Company’s special meeting of stockholders held in London today, stockholders holding 63.1% of the Company’s outstanding shares of common stock voted in favor of the merger.
The Company announced, on 22 July 2009, that, under the terms of a definitive merger agreement, ECD will pay 6.75 pence in cash (or approximately $0.11) for each share of the Company (the “Merger Consideration”).
The merger transaction is expected to become effective as early as later today. On the effective date of the merger transaction, the Company’s common shares will be cancelled and automatically converted into a non-tradable right to receive the Merger Consideration and the Company will become a subsidiary of ECD.
As announced on 22 July 2009, the admission of the Company’s shares of common stock to trading on the AIM market of the London Stock Exchange will be cancelled at 07.00 a.m. (London time) on 20 August 2009.
About Solar Integrated
Solar Integrated Technologies, Inc. (SIT: AIM.LN) is a Los Angeles-based company that manufactures, designs and installs building integrated photovoltaic (BIPV) roofing systems for commercial rooftops. Our BIPV roofing systems enable our customers to transform a rooftop into a value-generating asset. Our customers include Audi, Carrefour, Coca-Cola Enterprises, Frito-Lay, Honeywell, IKEA, Johnson Controls, Metro, Portland General Electric, ProLogis, San Diego Unified School District, Tesco, Toyota, Unibail-Rodamco, U.S. Air Force, U.S. GSA, U.S. Navy and Westfield. For more information, please visit www.solarintegrated.com.
Investor Contacts
R. Randall MacEwen, President & Chief Executive Officer
Solar Integrated Technologies, Inc.
+1 562 299 0136
Juliet Thompson or Chris Golden
Nomura Code Securities Limited
Nominated Adviser and Joint-Broker
+44 20 7776 1200
Peter Krens
Mirabaud Securities
Limited Joint-Broker
+44 20 7878 3362
