UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM 6-K

 


 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

 

For the Month of February, 2019

 

Commission File Number: 001-36703

 

Sky Solar Holdings, Ltd.

(Registrant’s Name)

 

Unit 402, 4th Floor, Fairmont House
No.8 Cotton Tree Drive, Admiralty
Hong Kong Special Administrative Region
People’s Republic of China

 (Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F x

 

Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (7): o

 

 

 


 

EXHIBIT INDEX

 

Number

 

Description of Document

99.1

 

Press release

 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Sky Solar Holdings, Ltd.

 

 

 

 

By:

/s/ Hao Wu

 

Name:

Hao Wu

 

Title:

Chairman and principal executive officer

Date: February 26, 2019

 

 

3


Exhibit 99.1

 

 

Former CEO Repays Settlement Amount; Hudson Withdraws BVI Statutory Demand

 

HONG KONG, Feb. 26, 2019 (GLOBE NEWSWIRE) — Sky Solar Holdings, Ltd. (“Sky Solar” or the “Company”) (NASDAQ: SKYS), a global developer, owner and operator of solar parks, today announced that on February 18, 2019, the Company received the full settlement amount of approximately US$15 million from its former CEO Mr. Weili Su, pursuant to the previously announced settlement agreement between the Company and Mr. Su dated September 19, 2017.

 

In addition, on February 22, 2019, Hudson withdrew the Statutory Demand it previously served on a certain subsidiary of the Company in the British Virgin Islands.

 

The Company intends to vigorously defend against Hudson’s other enforcement actions and proceedings in order to minimize interruptions to its business and operations. At the same time, the Company is open to discussing proposals that preserve and maximize shareholder value.

 

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, and North America. 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 June 30, 2018, the Company owned and operated 203.5 MW of solar parks.

 

Safe-Harbor Statement

 

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to the following: the reduction, modification or elimination of government subsidies and economic incentives; global and local risks related to economic, regulatory, social and political uncertainties; resources we may need to familiarize ourselves with the regulatory regimes, business practices, governmental requirements and industry conditions as we enter into new markets; our ability to successfully implement our on-going strategic review to unlock shareholder value; global liquidity and the availability of additional funding options; the delay between making significant upfront investments in the Company’s solar parks and receiving revenue; expansion of the Company’s business in the U.S. and into China; risk associated with the Company’s limited operating history, especially with large-scale IPP solar parks; risk associated with development or acquisition of additional attractive IPP solar parks to grow the Company’s project portfolio; and competition. Further information regarding these and other risks is included in Sky Solar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

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