Information about the approved Capital Increase
FOR RELEASE IN SWITZERLAND - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Luzern, 7 January 2021 - As announced on 22 December 2020, Liwet Holding AG obtained a block on the registration of the capital increase with the commercial registry of the Canton of Lucerne in relation to the capital increase, which had been approved with an overwhelming majority at the extraordinary shareholders meeting held on the same date.
As expected, subsequently on 30 December 2020 Liwet Holding AG has filed a written application with the district court of the city of Lucerne seeking a provisional measure for the purpose of continuation of the block on the registration. On 5 January 2021, Swiss Steel Holding AG has filed its response with the court und explained in detail that the application of Liwet Holding AG lacks any ground and is contrary to the interests of Swiss Steel Holding AG and its shareholders and employees. Furthermore, the allegation spread by Liwet Holding AG according to which the capital increase has been rejected by the small shareholders is simply wrong. Of the 145,288,611 shares represented by public shareholders (i.e. other than Liwet Holding AG and BigPoint Holding AG) more than 101.9 million shares (i.e. more than 70%) voted in favor of the capital increase. Accordingly, with its irresponsible and disruptive maneuvres against the capital increase Liwet Holding AG is pursuing entirely selfish goals and thereby knowingly accepts that the interests of the company and all other shareholders are violated.
Swiss Steel Holding AG expects to receive the court's decision regarding the provisional measures shortly and will thereupon inform the public about the timetable for completion of the capital increase.
About Swiss Steel Group
The Swiss Steel Group is currently one of the world's leading providers of customized solutions in the field of special long steel products. The Group is also one of the leading manufacturers in the global market for both tool steel and stainless long steel and is one of the two largest companies in Europe for alloyed and high-alloy engineering steel. With more than 10,000 employees at its own production and distribution companies in over 30 countries across five continents, the Company supports and supplies its customers around the globe and offers them a full worldwide portfolio from Production and Sales & Services. They benefit from the Company's technological expertise, consistently high product excellence across the globe, and in-depth knowledge of local markets.
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