Ascent Solar (ASTI) Appoints Victor Lee as CEO
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Ascent Solar Technologies, Inc. (Nasdaq: ASTI), announced today that Victor Lee, Executive Director of TFG Radiant Group Ltd. and its affiliates, Ascent’s largest shareholder, has been appointed President and CEO.
TFG Radiant currently owns approximately 20% of the outstanding shares of Ascent, which were acquired in August 2011. In December, 2011, TFG Radiant agreed to purchase an additional 21% of the outstanding stock in a private transaction, through the acquisition of stock owned by Norsk Hydro Produksjon AS. (See Ascent Press Release from January 3, 2012). Upon closing of that transaction, TFG Radiant will own approximately 41 percent of Ascent’s outstanding stock.
TFG Radiant currently owns approximately 20% of the outstanding shares of Ascent, which were acquired in August 2011. In December, 2011, TFG Radiant agreed to purchase an additional 21% of the outstanding stock in a private transaction, through the acquisition of stock owned by Norsk Hydro Produksjon AS. (See Ascent Press Release from January 3, 2012). Upon closing of that transaction, TFG Radiant will own approximately 41 percent of Ascent’s outstanding stock.
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