Creditor committee extends realization period for Sol Futura's centrotherm photovoltaics AG shares and repayment period for deferred insolvency liabilities
Sol Futura Verwaltungsgesellschaft mbH (Sol Futura), which holds 80 percent of the shares in centrotherm photovoltaics AG (CT AG), has notified us today that the creditor committee of CT AG has today approved its proposal to extend until December 31, 2017, as a matter of principle, the realization period for the shares in CT AG that it holds. As a consequence, the deferral to date until December 31, 2015 of the insolvency receivables of the unsubordinated creditors of CT AG, as well as of the creditors of one of its former subsidiaries pursuant to the respective insolvency plan, is also to be extended until December 31, 2017, as a matter of principle.
In the instance that all of Sol Futura's administration assets, which consist mainly of the shares in CT AG that it holds, are sold before December 31, 2017, the extension of the realization period will terminate, and consequently also the deferral of the insolvency receivables, one month after execution of the agreements concerning the realization or sale of the administration assets, by way of divergence from the aforementioned regulation.
Sol Futura has also notified us today in this connection that it continues to regard a sale of its equity interest in CT AG as still possible before the end of 2015, according to the current status of events.
- End of the quasi ad hoc announcement -
About centrotherm photovoltaics AG
centrotherm has been developing and realizing innovative thermal solutions for over 50 years. As a leading and globally operating technology group, we offer production solutions for the photovoltaic, semiconductor and microelectronic industries.
The continuous further development of our successful solutions in thermal processing and coating, such as for manufacturing crystalline solar cells and power semiconductors, form the basis for our successful partnerships with industry, research and development.
Our customers worldwide appreciate our production systems' process stability, scalability and availability in mass production. Above and beyond this, our work is distinguished by the fact that we create high-end process technology solutions which are specific for our customers and tailored to their requirements, and the fact that we are outstanding in system building.
We jointly confront the daily challenges of setting new trends, maximizing the efficiency of producing, for example, solar cells and semiconductors, and, coupled with our long machine durations, of securing investments.
In this way, we generate valuable competitive advantages for our customers through targeted innovations to processes and production solutions.
Our more than 700 staff worldwide are committed to the further development of high-tech solutions for key markets.
centrotherm photovoltaics AG
German Securities Identification Number (WKN): A1TNMM (bearer shares); A1TNMN (unlisted shares from the non-cash capital increase)
ISIN: DE000A1TNMM9 (bearer shares); DE000A1TNMN7 (unlisted shares from the non-cash capital increase)
Admitted to the Open Market/Entry Standard, Frankfurt Stock Exchange
Corporate domicile: Germany
Manager Public & Investor Relations
Tel: +49 7344 918-6304