Dynamics Group AG (CH)

  • Land: Schweiz

Nachricht vom 02.12.2019 | 18:13

Liwet Holding AG enables solution to rescue Schmolz+Bickenbach on a fair approach to all shareholders

EQS Group-News: Dynamics Group AG / Key word(s): Miscellaneous
02.12.2019 / 18:13

LIWET HOLDING AG

Press-release


Liwet Holding AG enables solution to rescue Schmolz+Bickenbach on a fair approach to all shareholders

Zurich, 2 December 2019 - Liwet Holding AG (Liwet) is pleased to announce that after discussions with Schmolz+Bickenbach AG, and including another major shareholder of the company- BigPoint Holding AG, about the future of the company, an understanding was reached that the only way to rescue the company is a capital increase on the basis of a fair approach to all shareholders.

Liwet's requirement that Liwet and all other shareholders have equal rights in the capital increase has been fulfilled. The stake of Martin Haefner's BigPoint Holding AG in Schmolz + Bickenbach shall in principle not exceed 37.5%, unless other shareholders would not exercise their subscription rights in full to achieve a minimum of EUR 325 million.

Liwet is ready to participate in the capital increase on this equal treatment basis. Upon the understanding all shareholders are asked to participate and the two largest shareholders will provide their funds to support Schmolz+Bickenbach's liquidity position by injecting the amount necessary to restructure the company.

With this constructive solution in the interest of all stakeholders, hand will be given to carry out a thorough analysis of the company. In particular, it is necessary to examine how operational processes can be optimized, inventory reduced or the sale of non-core activities initiated. Liwet and BigPoint, together with the Board of Directors and the management of Schmolz + Bickenbach, will work out measures to get the company back on track for success.

Alexey Moskov, Chairman of Liwet, said "Liwet believes that its efforts as the biggest shareholder of Schmolz+Bickenbach who once has already participated in the turnaround of the company will also be successful at this time and allow to guarantee the company a better future, keep jobs in Switzerland and around the world and encourage all stockholders to a long-term constructive cooperation with Schmolz+Bickenbach."


Contact:
Liwet Holding AG
Media Office
c/o Dynamics Group AG
Tel +41 43 268 32 32


Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=UVYJWXPYYJ
Document title: Liwet_2.12.2019


End of Corporate News


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