ReneSola Provides Update to Shareholding Information

 
TIDMSOLA 
 
ReneSola Provides Update to Shareholding Information 
 
    JIASHAN, China, July 13 /PRNewswire-Asia/ -- ReneSola Ltd ("ReneSola" or 
the "Company") (NYSE: SOL) (AIM: SOLA), a leading global manufacturer of solar 
wafers and producer of solar power products based in China, today announced 
that it has been notified of the transfer of shares in the Company by Ruixin 
Holdings Ltd ("Ruixin") and Yuncai Holdings Ltd ("Yuncai"). Ruixin and Yuncai 
are wholly owned by Mr. Xianshou Li, the Chief Executive Officer of ReneSola, 
and Mr. Yuncai Wu, a director of ReneSola, respectively. 
    (Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030 ) 
    (Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 ) 
    Ruixin and Yuncai have transferred their entire aggregate holding of 
56,749,909 shares to the following four companies for nil consideration. Each 
of the four companies is incorporated in the British Virgin Islands. 
 
 
 
    Name of company                              No. of shares    % of issued 
                                                                 share capital 
 
    Champion Era Enterprises Limited 
     ("Champion")                                  23,266,229          13.47 
    Assets Train Limited ("Assets")                13,053,614           7.56 
    Dynasty Time Limited ("Dynasty")               10,215,871           5.91 
    Buoyant Wise Limited ("Buoyant")               10,214,195           5.91 
 
    Total                                          56,749,909          32.86 
 
 
    Champion is wholly owned by Xianshou Li, Assets is wholly owned by 
Zhengmin Lian, Dynasty is wholly owned by Xiangjun Dong, and Buoyant is wholly 
owned by Yuncai Wu. Mr. Lian and Mr. Dong are both directors of Zhejiang Yuhui 
Solar Energy Source Co., Ltd, ReneSola's principal operating company. Prior to 
the transfer, Ruixin legally held 13,053,614 shares beneficially owned by Mr. 
Lian pursuant to a trust agreement. Ruixin also legally held 1,135,096 shares 
and Yuncai legally held 9,080,775 shares beneficially owned by Mr. Dong 
pursuant to a trust agreement. 
    In addition, Dynasty has entered into irrevocable voting agreements in 
respect of 1,135,096 shares with Mr. Li and the remainder of its holding of 
9,080,775 shares with Mr. Wu. Assets has also entered into an irrevocable 
voting agreement in respect of its entire holding of 13,053,614 shares with Mr. 
Li. The resultant voting rights of Mr. Li and Mr. Wu remain unchanged from 
before the transfer of shares and therefore are as follows: 
 
 
                                                                Voting rights 
 
    Xianshou Li                                                   37,454,939 
    Yuncai Wu                                                     19,294,970 
 
    Total                                                         56,749,909 
 
 
    Issue of Equity 
    ReneSola also announces that the Company has issued 118,000 shares 
pursuant to the exercise of share options by various employees of ReneSola 
under the terms of the Company's share option scheme. All the options were 
exercised at a price of US$2.565 per share (US$5.13 per American depositary 
share). Admission of the new shares to trading on AIM is expected to occur on 
16 July 2010. 
    Following the issue of the new shares there are 172,742,912 shares in 
issue. 
 
    About ReneSola 
    ReneSola is a leading global manufacturer of solar wafers and producer of 
solar power products based in China. Capitalizing on proprietary technologies, 
economies of scale, low-cost production capabilities and technological 
innovations and know-how, ReneSola leverages its in-house virgin polysilicon 
and solar cell and module production capabilities to provide its customers 
with high-quality, cost-competitive solar wafer products and OEM services. The 
Company possesses a global network of suppliers and customers that includes 
some of the leading global manufacturers of solar cells and modules. 
ReneSola's shares are traded on the New York Stock Exchange (NYSE: SOL) and 
the AIM of the London Stock Exchange (AIM: SOLA). 
 
    For investor and media inquiries, please contact: 
 
    In China: 
 
     Ms. Feng Qi 
     ReneSola Ltd 
     Tel:   [phone] 
     Email: [e-mail] 
 
     Mr. Derek Mitchell 
     Ogilvy Financial, Beijing 
     Tel:   [phone] 
     Email: [e-mail] 
 
    In the United States: 
 
     Ms. Jessica Barist Cohen 
     Ogilvy Financial, New York 
     Tel:   [phone] 
     Email: [e-mail] 
 
    In the United Kingdom: 
 
     Mr. Tim Feather / Mr. Richard Baty 
     Westhouse Securities Limited, London 
     Tel:   [phone] 
     Email: [e-mail] 
            [e-mail] 
 
SOURCE  ReneSola Ltd 
 
 
 
END