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
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2014
Commission File Number: 001-33464
LDK SOLAR
CO., LTD.
(Translation of registrants name into English)
Hi-Tech Industrial Park
Xinyu City
Jiangxi
Province 338032
Peoples 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
¨
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):
¨
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):
¨
Indicate by check mark whether by furnishing the
information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If Yes is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
LDK Solar Requests Review of NYSE Regulations Decision to Suspend Trading and Commence
Delisting Procedures
We, LDK Solar Co., Ltd.,
in provisional liquidation
, and our Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher,
both of Zolfo Cooper (Cayman) Limited, announced that we have requested a review of the decision made on March 31, 2014 by the staff of NYSE Regulation, Inc. (NYSE Regulation) to suspend trading of the our American depositary shares
(ADSs) on the New York Stock Exchange (the NYSE) and to commence delisting proceedings. A date has now been set for June 26, 2014 for a hearing before a Committee of the Board of Directors of NYSE Regulation (the
Committee). There is no assurance that the NYSE Regulation decision will be overturned in connection with the review process.
In our hearing
request, we made several arguments why we should remain listed, including that a listing decision should not be made until we complete our on-going restructuring efforts. We also disclosed certain financial information to the NYSE relating to our
fourth quarter ended December 31, 2013 based on our unaudited management accounts, subject to adjustments and finalization, as follows:
For the third fiscal quarter ended September 30, 2013 and the fourth fiscal quarter ended December 31, 2013, we recorded 36.5%
and 74.4%, respectively, in sequential revenue growth on a quarter-by-quarter basis, and a sequential reduction in net losses of 30.2% and 22.0%, respectively, on a quarter-by-quarter basis, primarily due to increased demand for our products from
domestic and international solar markets. More specifically, we recorded net sales of $273.1 million for the fourth quarter, as compared to $156.6 million and $114.7 million for the third and second quarters of fiscal 2013, respectively, and a net
loss of $104.1 million for the fourth quarter, as compared to $127.0 million and $165.3 million in net losses, respectively, for the third and second quarters of fiscal 2013.
Our ADSs are currently trading on the OTCQB market under the symbol LDKSY while trading is suspended on the NYSE. No action will be taken by NYSE
Regulation to delist our securities from the NYSE pending the outcome of the hearing, while trading on the NYSE will remain suspended until the Committee issues its decision.
Our press releases issued on April 16 and April 17, 2014 are attached hereto as Exhibit 99.3 and Exhibit 99.4, respectively.
2
SIGNATURE
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.
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LDK SOLAR CO., LTD
.,
in provisional liquidation
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By:
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/s/ Jack Lai
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Name:
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Jack K.S. Lai
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Title:
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Company Secretary
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Date: April 17, 2014
3
Exhibit 99.3
LDK Solar Requests Review of NYSE Regulations Decision
to Suspend Trading and Commence Delisting Procedures
GEORGE TOWN, Cayman Islands, XINYU CITY, China and SUNNYVALE, Calif., April 16, 2014 - LDK Solar Co., Ltd.
in provisional liquidation
(LDK
Solar or the Company) and its Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, today announced that LDK Solar has requested a review of the decision made on March 31, 2014 by
the staff of NYSE Regulation, Inc. (NYSE Regulation) to suspend trading of the Companys American depositary shares (ADSs) on the New York Stock Exchange (the NYSE) and to commence delisting proceedings. A
date will now be set for a hearing before a Committee of the Board of Directors of NYSE Regulation (the Committee).
In its hearing request,
LDK Solar made several arguments why LDK Solar should remain listed, including that a listing decision should not be made until LDK Solar completes its on-going restructuring efforts.
LDK Solar will provide a further update following receipt of the Committees final decision, which is expected within the next 60-120 days.
The Companys ADSs are currently trading on the OTCQB market under the symbol LDKSY while trading is suspended on the NYSE. No action will be
taken by NYSE Regulation to delist the Companys securities from the NYSE pending the outcome of the hearing, while trading on the NYSE will remain suspended until the Committee issues its decision.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the projected financial information provided herein, LDK Solars ability to raise additional
capital to finance its operating activities, its ability to achieve a consensual solution to its onshore and offshore liabilities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability
of LDK Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and
conditions, the volatility of LDK Solars operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its
ongoing projects, and other risks and uncertainties disclosed in LDK Solars filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information
available to LDK Solars management as of the date such information was prepared and on its expectations, assumptions, estimates and projections about LDK Solar and the PV industry as of such date. Actual results may differ materially from the
anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and
projections except as may be required by law.
About LDK Solar
in provisional liquidation
LDK Solar Co., Ltd.
in provisional liquidation
is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its
operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solars principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu
City, Jiangxi Province in the Peoples Republic of China. LDK Solars subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit
www.ldksolar.com.
4
For more information contact:
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Company
in provisional liquidation
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Lisa Laukkanen
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Jack Lai
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The Blueshirt Group for LDK Solar
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Executive VP and CFO
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lisa@blueshirtgroup.com
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LDK Solar Co., Ltd.
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+1-415-217-4967
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IR@ldksolar.com
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Provisional Liquidators
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Tammy Fu
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Eleanor Fisher
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Zolfo Cooper (Cayman) Limited
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Zolfo Cooper (Cayman) Limited
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Cayman Islands
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Cayman Islands
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LDKenquiries@zolfocooper.ky
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+1-345-946-00811
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Financial Advisor to Company
(
in provisional liquidation
)
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Augusto King
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Steven Strom
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Richard Klein
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Jefferies LLC
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Jefferies LLC
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Jefferies LLC
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aking@Jefferies.com
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sstrom@Jefferies.com
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rklein@Jefferies.com
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Legal Advisors to Company
(
in provisional liquidation
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Thomas Albrecht
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Timothy Li
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Guy Manning
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Mark Goodman
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Sidley Austin
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Sidley Austin
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Campbells
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Campbells
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talbrecht@sidley.com
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htli@sidley.com
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gmanning@campbells.com.ky
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mgoodman@campbells.com.ky
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Financial Advisor to Senior Notes Holders
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Legal Advisor to Senior Notes Holders
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Brandon Gale
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Daniel Anderson
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Houlihan Lokey
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Ropes & Gray
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bgale@hl.com
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daniel.anderson@ropesgray.com
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5
Exhibit 99.4
LDK Solar Provides Additional Information on its Request for Review of NYSE Regulations Decision
to Suspend Trading and Commence Delisting Procedures
GEORGE TOWN, Cayman Islands, XINYU CITY, China and SUNNYVALE, Calif., April 17, 2014 - LDK Solar Co., Ltd.
in provisional liquidation
(LDK
Solar or the Company) and its Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, today provided additional information on its request for a review of the decision made on March 31,
2014 by the staff of NYSE Regulation, Inc. (NYSE Regulation) to suspend trading of the Companys American depositary shares (ADSs) on the New York Stock Exchange (the NYSE) and to commence delisting
proceedings. A date has now been set for June 26, 2014 for a review hearing before a Committee of the Board of Directors of NYSE Regulation (the Committee). There is no assurance that the NYSE Regulation decision will be overturned in
connection with the review process.
In its hearing request, LDK Solar also disclosed certain financial information to the NYSE relating to its fourth
quarter ended December 31, 2013 based on the Companys unaudited management accounts, subject to adjustments and finalization, as follows:
For the third fiscal quarter ended September 30, 2013 and the fourth fiscal quarter ended December 31, 2013, the Company
recorded 36.5% and 74.4%, respectively, in sequential revenue growth on a quarter-by-quarter basis, and a sequential reduction in net losses of 30.2% and 22.0%, respectively, on a quarter-by-quarter basis, primarily due to increased demand for the
Companys products from domestic and international solar markets. More specifically, the Company recorded net sales of $273.1 million for the fourth quarter, as compared to $156.6 million and $114.7 million for the third and second quarters of
fiscal 2013, respectively, and a net loss of $104.1 million for the fourth quarter, as compared to $127.0 million and $165.3 million in net losses, respectively, for the third and second quarters of fiscal 2013.
As disclosed earlier, the Companys ADSs are currently trading on the OTCQB market under the symbol LDKSY while trading is suspended on the
NYSE.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, uncertainties relating to the ability of Company to successfully appeal the decision of NYSE Regulation
regarding the Companys continued listing status and the timing of any such final decision by the Committee, and other risks and uncertainties disclosed in LDK Solars filings with the Securities and Exchange Commission. These
forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solars management as of the date such information was prepared and on its expectations, assumptions, estimates and
projections as of such date. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or
circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
About LDK Solar
in
provisional liquidation
LDK Solar Co., Ltd.
in provisional liquidation
is a leading vertically integrated manufacturer of photovoltaic
(PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solars principal manufacturing facilities are located
in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the Peoples Republic of China. LDK Solars subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products,
please visit
www.ldksolar.com.
6
For more information contact:
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Company
in provisional liquidation
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Lisa Laukkanen
|
|
Jack Lai
|
The Blueshirt Group for LDK Solar
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Executive VP and CFO
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lisa@blueshirtgroup.com
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LDK Solar Co., Ltd.
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+1-415-217-4967
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IR@ldksolar.com
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Provisional Liquidators
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Tammy Fu
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Eleanor Fisher
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Zolfo Cooper (Cayman) Limited
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Zolfo Cooper (Cayman) Limited
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Cayman Islands
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Cayman Islands
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LDKenquiries@zolfocooper.ky
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+1-345-946-00811
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Financial Advisor to Company
(
in provisional liquidation
)
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Augusto King
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Steven Strom
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Richard Klein
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Jefferies LLC
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Jefferies LLC
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Jefferies LLC
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aking@Jefferies.com
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sstrom@Jefferies.com
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rklein@Jefferies.com
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Legal Advisors to Company
(
in provisional liquidation
)
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Thomas Albrecht
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Timothy Li
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Guy Manning
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Mark Goodman
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Sidley Austin
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Sidley Austin
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Campbells
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Campbells
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talbrecht@sidley.com
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htli@sidley.com
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gmanning@campbells.com.ky
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mgoodman@campbells.com.ky
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Financial Advisor to Senior Notes Holders
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Legal Advisor to Senior Notes Holders
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Brandon Gale
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Daniel Anderson
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Houlihan Lokey
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Ropes & Gray
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bgale@hl.com
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daniel.anderson@ropesgray.com
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7