EANS-Adhoc: Draft insolvency plan:

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Company Information

24.10.2012

Restructuring through 5:1 share consolidation (capital write-down)
and subsequent capital increase to original level (debt-for-equity
swap) while retaining stock market listing - turnaround expected for
2014

Blaubeuren, October 24, 2012 - The Management Board has today passed
a resolution to embark together with the significant creditor groups
on the fine-tuning of the insolvency plan which has been submitted to
the Ulm Insolvency Court. The insolvency plan requires the approval
of the creditors, and confirmation by the insolvency court.

The draft of the insolvency plan makes provision whereby the company
is to be continued along with its stock market listing, and the
company's capital structure is to be reorganized so that unsecured
creditors' receivables are transferred to the company in exchange for
stock. This is intended to create a settlement of interests between
the shareholders and the company in the company's continued existence
and capital market access, and of the creditors' interest in the best
possible satisfaction of their receivables.

The company's share capital, which currently amounts to EUR
21,162,382, and is divided into an equal number of ordinary bearer
shares, is to be reduced - following the withdrawal of two shares
provided free of charge - by EUR 16,929,904 to EUR 4,232,476 (capital
write-down) by consolidating the remaining 21,162,382 shares in a
five to one ratio. In a directly subsequent step, the share capital
is to be increased again by EUR 16,929,904 to EUR 21,162,380 by way
of a capital increase against non-cash capital contributions
(debt-for-equity swap).

To this end, the company's unsecured creditors are to assign 70 % of
their unconditional and unrestricted receivables to an administration
company, which will subscribe for the total of 16,929,904 new shares
as part of the debt-for-equity swap. Payment of the remaining 30 % of
the receivables will be deferred until the end of 2015 on a
non-interest-bearing basis.

This administration company will hold 80 % of the company's share
capital and shares after the implementation of the restructuring. The
creditors will not participate directly as shareholders in the
company, but can participate indirectly in the company's
profitability and value enhancement, in other words, in the proceeds
which are generated in a later disposal of the new shares.

According to current planning, a turnaround is anticipated for 2014
given the successful implementation of the planned restructuring of
the company, and the significant growth in the market for production
technology for the photovoltaic industry which is expected for 2014.
On the basis of the positive market trend which is assumed for 2014,
the company is budgeting negative EBITDA of almost EUR 18 million for
2013, and a net loss for the year of EUR 24 million. For 2014 and
2015, the company is planning positive EBITDA of EUR 37 million in
each year, and net income of EUR 22 million and EUR 23 million
respectively.

--- End of the ad hoc announcement ---

About centrotherm photovoltaics AG centrotherm photovoltaics AG,
which is based at Blaubeuren, Germany, is a globally leading
technology and equipment provider for the photovoltaics sector. The
company equips well-known solar companies and new sector entrants
with turnkey production lines and single equipment to manufacture
silicon, and crystalline solar cells and modules. As a consequence,
the Group possesses a broad and well-founded technological basis, as
well as key equipment at practically all steps of the photovoltaics
value chain. centrotherm photovoltaics guarantees its customers
important performance parameters such as production capacity,
efficiencies, and completion deadlines. The Group employed around
1,300 staff as of August 31, 2012, and operates globally in Europe,
Asia and the USA. centrotherm photovoltaics achieved revenue in the
2011 financial year of around EUR 700 million. The company is listed
in the Prime Standard on the Frankfurt Stock Exchange.

Further inquiry note:
Kontakt:
Saskia Feil
Senior Manager Investor & Public Relations
Tel: +49 7344 918-8890
E-Mail: saskia.feil@centrotherm.de

Nathalie Albrecht
Manager Public Relations
Tel: +49 7344 918-6304
E-Mail: nathalie.albrecht@centrotherm.de

end of announcement euro adhoc
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issuer: centrotherm photovoltaics AG
Johannes-Schmid-Str. 8
D-89143 Blaubeuren
phone: +49 (0) 7344 91880
mail: info@centrotherm.de
WWW: http://www.centrotherm.de
sector: Energy
ISIN: DE000A0JMMN2
indexes: Prime All Share, GEX, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English