Article: United Kingdom: centrotherm photovoltaics plans capital increase via sister company integration.

Byline: sander03

In a move approved by the company s Supervisory Board, centrotherm photovoltaics AG has taken steps to increase its share capital by 8 million to 24 million. The company has passed a resolution to integrate sister company centrotherm Thermal Solutions via a payment-in-kind agreement with its major shareholder Hartung Beteiligungs GmbH, which company will use its shares in the Thermal Solutions company to subscribe for 4,224,293 new shares in centrotherm at a significant discount of around 62 million compared with the valuation of 199 million.

The combined cash and non-cash capital increase will involve the offering of a two to one ...

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