Liwet Holding AG has obtained a block on the registration of the capital increase
by Hans Diederichs
Swiss Steel Holding is exercising the appropriate legal remedies
As already announced, at yesterday's Extraordinary General Meeting the shareholders of Swiss Steel Holding AG approved the proposal of the Board of Directors with 66.85% of the votes represented to increase the share capital from currently CHF 304,249,999.95 by CHF 154,578,620.70 to CHF 458,828,620.65 through the issuance of 1,030,524,138 new registered shares with a nominal value of CHF 0.15 each. The capital increase is expected to be completed in the second half of January 2021.
Following today's Extraordinary General Meeting, Swiss Steel Holding was informed that Liwet Holding AG has obtained a block on the registration of the capital increase from the Commercial Register Office of the Canton of Lucerne. The blocking of the Commercial Register is granted upon unilateral application. The application does not have to be substantiated and there is no substantive examination by the Commercial Register. Liwet Holding AG now has a period of 10 days to apply to the competent court for a justified precautionary measure. Liwet Holding AG's action lacks any basis and is contrary to the interests of Swiss Steel Holding AG and its other shareholders and employees. Swiss Steel Holding AG stands by the capital increase and will defend itself with all appropriate legal remedies against the irresponsible actions of Liwet Holding AG and its representatives.
For further information on the capital increase by way of a rights offering, please refer to the press release from 22 December 2020 ahead of the Extraordinary General Meeting.
Source and graphic: Swiss Steel Group