×

Sky Solar Announces Progress in Investigation of Conduct of Former CEO

HONG KONG, June 28, 2017 (GLOBE NEWSWIRE) -- Sky Solar Holdings, Ltd. (NASDAQ:SKYS) (“Sky Solar” or the “Company”), a global developer, owner and operator of solar parks, today announced that on June 27, 2017, an independent committee of the Company’s Board of Directors engaged Dahui Lawyers to investigate the conduct of its former Chief Executive Officer, Mr. Weili Su. The independent committee was formed on June 15, 2017, and the investigation involves certain transactions and fund transfers which appear to lack proper board and audit committee authorization.

About Sky Solar Holdings, Ltd.

Sky Solar is a global independent power producer (“IPP”) that develops, owns, and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. The Company's broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements. As of December 31, 2016, the Company had developed 307 solar parks with an aggregate capacity of 292.3 MW and owned and operated 159.6 MW of solar parks.

For investor and media inquiries, please contact: Sky Solar: IR@skysolarholdings.com SKYS Investor Relations: The Blueshirt Group US or Mandarin Ralph Fong +1 (415) 489-2195 ralph@blueshirtgroup.com China Gary Dvorchak, CFA +86 (138) 1079-1480 gary@blueshirtgroup.com

Source: Sky Solar Holdings Ltd