GiraSolar Secures Contract Estimated at $65m and Approves Forward Stock Split

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Legend Investment Corp. (LVCP.PK) announced that it has secured a four-year supply contract for critical components allowing the company to sell an additional $16.5 million of GiraSolar branded modules based on current pricing in each of the next four years. This contract with a major European cell manufacturer represents an anticipated total revenue value of approximately $65 million for the company over the contract period which extends from Q4 2006 into Q4 2010 and should enable the group to market almost 4MWp per year extra of its own GiraSolar brand of modules. The total revenue of $65M represents yearly revenue of approximately 16.5M$ per year for a period of 4 consecutive years starting in October 2006. [ more ] The board also announced a reverse 5 for 2 stock split that will be implemented as soon as possible.