DGAP-Adhoc: Centrosolar Group AG: Shareholders' Meeting approves balance sheet reconstruction - key milestone in restructuring of company reached

Centrosolar Group AG / Key word(s): Corporate Action

22.05.2013 16:59

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement acc. to Section 15 of German Securities Trading Act
(WpHG)

Shareholders' Meeting approves balance sheet reconstruction - key milestone
in restructuring of company reached

Munich, May 22, 2013. Following on from yesterday's approval by the bond
creditors, at today's Shareholders' Meeting the shareholders approved by a
large majority the package of measures drawn up by the Management Board for
the reconstruction of the balance sheet of CENTROSOLAR Group AG.

In essence the following resolutions were passed: the capital stock of the
company will be reduced in a simplified form from EUR 20,351,433 to EUR
814,057, after the retirement of 8 shares. In a first step the number of
shares in the company is thus reduced by a ratio of 25:1. In the next step,
it was resolved to increase the company's capital stock against
contribution in kind of the EUR 50,000,000 7 % bond 2011/2016 ('Bond') and
a subordinated loan by a total of EUR 6,260,000 to EUR 7,074,057. The Bond
with a nominal total of EUR 50 million and the subordinated loan of a
nominal EUR 9.5 million can consequently be converted into equity capital,
and the financial liabilities thus reduced by over 60 %. Finally, as a
third, later step it was resolved to increase the capital stock of the
company for cash, with shareholder subscription rights, for up to 5,000,000
no par value shares in the company. This resolution is intended to inject
fresh financial resources into the company.

The measures are envisaged to be implemented in the second half of the
year. The Bond will remain tradeable on the free market of the Stuttgart
Stock Exchange (BondM trading segment) until a few days before the start of
the acquisition period (likely to be at the end of the third quarter). The
precise dates will be announced by the company in due course.

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Information and Explaination of the Issuer to this News:

About CENTROSOLAR Group AG:

The listed company CENTROSOLAR Group AG, Munich, (stock exchange code WKN
514850) is one of the leading suppliers of photovoltaic (PV) systems for
roofs and key components, with over 700 employees in Europe and North
America and annual revenue of EUR 189 million (2012) for the continuing
operations. Its product range comprises solar integrated systems, modules,
inverters and mounting systems. Over two-thirds of revenue is generated
internationally. There are CENTROSOLAR branches such countries as Italy,
France, Greece, Switzerland, the Netherlands, the UK, Canada and the USA.
CENTROSOLAR manufactures modules at a plant in Wismar (Germany). The module
production plant certified to DIN ISO 9001:2008 is one of the largest and
most efficient such plants in Europe, with an annual capacity of 350 MWp.

For further information, visit: www.centrosolar-group.com.

For more information, please contact: MetaCom GmbH, Georg Biekehör, tel.:
+49 (0)6181 9828030, e-mail: g.biekehoer@go-metacom.de

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Language: English
Company: Centrosolar Group AG
Walter-Gropius-Str. 15
80807 München
Germany
Phone: +49 (0)89 20 1800
Fax: +49 (0)89 20 180 555
E-mail: info@centrosolar.com
Internet: http://www.centrosolar-group.de
ISIN: DE0005148506, DE000A1E85T1,
WKN: 514850, A1E85T,
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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