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13.09.2011
Solarmag proposes to broaden its business activities and change strategy
Solarmag proposes to broaden its business activities and change strategy

The present management of Solarmag proposes to utilize its broad network and experience to include areas additional to the renewable energy sector to create a company which will spread its risks and opportunities to improve shareholders value. The activities of CEO Lars-Erik Magnusson and the Larmag Group additional to the renewable energy business has for the last 26 years been real estate investments, oil exploration and investments in minerals including commodity trading.

As a result of this the Larmag Group is on a regular basis offered interesting business opportunities in real estate, oil and mineral investments which present a great upside potential. To take advantage of these additional business opportunities the management propose to broaden the business activities of Solarmag PLC to also include real estate, oil and mineral investments and change the name of the company to MagnInvest PLC.

MagnInvest will be an investment holding company with four main business activities: renewable energy in Solarmag B.V, real estate investments in Larmag Real Estate B.V, oil and gas investments in Larmag Oil & Gas B.V. and mineral investments with focus on gold in Larmag Minerals B.V.

The management is confident that the above mentioned business plan will work better for a public listed company as it will offer the investors to invest in a company which have investments in four different business areas which are inflation secured. The oil and gas and minerals business can show very fast value increases on short term combined with the more secure and predictable long term growth in the renewable energy and the real estate business. It is also expected that the new strategy with more business activities in the company will give opportunities to substantial additional capital gains. The new broader strategy will also allow MagnInvest to provide funding mechanisms for the subsidiaries and help them to grow faster. It will also allow for cost savings and synergies on overhead costs. The above mentioned proposed changes are on the agenda for the Annual General Meeting on September 27. The agenda for the AGM is available on the company website.

Chairman and CEO Lars-Erik Magnusson said: To change the company into an investment company and broaden the activities will give us the benefit to take advantage of the great opportunities we see in the real estate, oil and mineral business at this moment which should create a lot of additional shareholders value on both short and long term. We expect to announce acquisitions in real estate, renewable energy and mineral investments in the near future and later also in the oil business.

For further information contact:
SOLARMAG PLC
Thomas R. Malthusstraat 3b
1066 JR Amsterdam
The Netherlands
Tel: +31 20 388 0060
Fax: +31 20 669 6508
Email: info@solarmag-plc.com
Website: www.solarmag-plc.com

Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.



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