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1. November 2019

SCHMOLZ + BICKENBACH informs on resolutions of the Board of Directors

Lucerne, November 1, 2019 – SCHMOLZ + BICKENBACH AG ("S+B"), a world leader in special long steel, informs today about Martin Haefner's waiver of one of the conditions of his undertaking to participate in the planned capital increase and about the further treatment of Liwet Holding AG's request regarding elections.

 

As already announced, the Board of Directors decided at its meeting on October 22, 2019 to convene an Extraordinary General Meeting (“EGM”) on December 2, 2019. It took note yesterday that Martin Haefner, in his commitment of CHF 325 million, waived the condition of having two candidates elected as new members of the Board of Directors on the occasion of this EGM.

 

The Board of Directors also took note of the request submitted by Liwet Holding AG on October 28, 2019 to convene an EGM and to add items to the agenda. The Board of Directors instructs the Compensation Committee to assess the candidates proposed by Liwet Holding AG.

 

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