Centrosolar Group AG
Centrosolar Group AG: Insolvency plan withdrawn
Centrosolar Group AG / Key word(s): Insolvency 12.09.2014 17:39 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Insolvency plan withdrawn Munich, September 12, 2014. After extensive discussions, the Creditors' Committee and Management Board of Centrosolar Group AG have today decided to withdraw the proposed insolvency plan. This decision was taken because following the creditors' meeting on September 9, 2014, at which the vote on the insolvency plan was postponed, it emerged that it has become unlikely the insolvency plan can be implemented in the short term due to conflicts of interest among the creditors. Hence, the management of Centrosolar Group AG and its main participation Centrosolar America, Inc. have declared their opposition to pursuing the plan any further. It is anticipated that the non-subordinated creditors will receive a cash payment from the liquidation of all assets, and no shares. The shares of Centrosolar Group AG will be withdrawn from the market as soon as possible. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About CENTROSOLAR Group AG: CENTROSOLAR Group AG, Munich, (WKN A1TNS1) listed stock corporation in administration. Its principal participation - not in administration - is Centrosolar America, Inc., a supplier of photovoltaic (PV) systems for roofs in North America. Its product range comprises solar integrated systems, modules, inverters and mounting systems as well as financing solutions for system operators. More information is available at www.centrosolar-group.com. For further information, please contact: MetaCom GmbH Georg Biekehör Tel.: +49 (0)6181 982 8030 e-mail: g.biekehoer(at)go-metacom.de 12.09.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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: DE000A1TNS13, DE000A1E85T1, WKN: A1TNS1, A1E85T, Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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