LDK Solar signs share purchase agreement with Fulai Investment

CHINA & USA: LDK Solar Co. Ltd has entered into a share purchase agreement dated January 21, 2013 with Fulai Investments Ltd, which has agreed to purchase 17,000,000 newly issued ordinary shares of LDK Solar, at a purchase price of $1.83 per share with an aggregate purchase price of $31,110,000, subject to the terms and conditions of the share purchase agreement, including a lock-up for 180 days from the closing date of the contemplated transactions.

Pursuant to the share purchase agreement, the parties will endeavor to fulfill the closing conditions to consummate the transactions prior to February 28, 2013.

Fulai Investments also has the right to designate two non-executive directors to the LDK Solar board upon consummation of the transactions. The net proceeds will be used for general corporate purposes in LDK Solar's operations.