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Schmolz + Bickenbach announces Details for capital increase

The financially troubled steel manufacturer Schmolz + Bickenbach has released the Details for the capital increase, which was approved by the extraordinary General meeting of shareholders. Are provided a rights issue and international offering of shares.

In a first step, the existing shareholders in the rights offering, the of 12. to 18. December is supposed to last, non-tradable subscription rights to subscribe for new shares, as the company announced on Tuesday. In a second step, new shares were not subscribed by the existing shareholders would be offered in an international offering in the market. This should be on 20. December ends.

The General Assembly had approved a capital increase of up to 2'953'125'000 new shares with the three possible output rates of 20, 25 and 30 cents. The final issue price will be determined by the company on the last day of the international offering, it was called more. The new shares are to on 9. January will be listed.

The financial market Supervisory authority Finma had made on Monday the way for the capital increase in the planned Form. Specifically, it has S+B-major shareholder Martin Haefner an exception to the duty to make an Offer when you Exceed the One-third share of grants.

The rehabilitation plan provides that Haefner will inject in the framework of the capital increase, up to 325 million francs, his share to 37.5 per cent. He would replace to the of Viktor Vekselberg-controlled investment company Liwet as the largest shareholder. The proportion of Liwet is expected to fall to 25, currently at 26.9 per cent. (Dec/sda)

Created: 10.12.2019, 09:55 PM

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