Brief: MCH Group Says Basel-Stadt Supports Plans For A Capital Increase For MCH Group Ltd

MCH AG

24/06/2020 18:09

June 24 (Reuters) - MCH Group AG  MCHN.S :
    * MEDIA RELEASE | MCH GROUP | DECISION OF THE PARLIAMENT OF
THE
CANTON OF BASEL-STADT
    * BASEL-STADT SUPPORTS PLANS FOR A CAPITAL INCREASE FOR MCH
GROUP
LTD
    * CANTON OF BASEL-STADT WILL WAIVE EXERCISE OF ITS
SUBSCRIPTION
RIGHT
    * GOVERNMENT IS AUTHORISED TO CONVERT A LOAN OF CHF 30
MILLION
INTO SHARE CAPITAL
    * MCH GROUP - CANTON OF BASEL-STADT THUS MAKING IT POSSIBLE
FOR A
NEW INVESTOR TO ACQUIRE SIGNIFICANT MINORITY HOLDING IN EVENT OF
A CAPITAL INCREASE
    * CANTON IS ENSURING THAT PUBLIC SECTOR MAINTAINS A STAKE OF
MORE
THAN 33.3%, ENABLING IT TO PREVENT CHANGES TO STATUTES
    * OUTCOME OF NEGOTIATIONS STILL REMAINS OPEN AT PRESENT

Source text for Eikon:  ID:nGNE9ZHwGy 
Further company coverage:  MCHN.S 

 ((Reuters.Briefs@thomsonreuters.com;))