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SCHMOLZ + BICKENBACH Shareholders Approve Capital Increase

Steel News - Published on Wed, 04 Dec 2019

Image Source: Schmolz + Bickenbach
SCHMOLZ + BICKENBACH announced that the shareholders at traordinary shareholders' meeting approved the capital reduction and simultaneous capital increase by at least CHF 325 million proposed by the Board of Directors. In view of the successful execution of the upcoming capital increase of S+B, Martin Haefner is waiving one of the conditions of his commitment to support the capital increase with up to CHF 325 million. Martin Haefner's commitment is no longer dependent on Liwet being excluded from the allocation of unexercised subscription rights as part of the planned capital increase. At the same time, Liwet has signaled that it will participate in the capital increase with a substantial sum.

The capital reduction proposed by the Board of Directors for the purpose of the financial restructuring of the company and the simultaneous ordinary capital increase to at least the previous amount was accepted by the shareholders with 79.3% of the votes represented.

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Posted By : Arun Huidrom on Wed, 04 Dec 2019
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