At the centre of the plan is a proposal to convert a €50m ($67m) bond placed in early 2011 with a 7% coupon into shares in the Munich-listed company, while “significantly streamlining” several business areas, including sales and administration.
Senior management will also be “deferring” a significant portion of their remuneration to help the company reach solid ground. Alexander Kirsch has been chief executive and chief financial officer of Centrosolar since 2005.
The
