Brief: MCH Group To Propose Capital Increase Totalling CHF 104.5 Mln

MCH AG

10/07/2020 06:08

July 10 (Reuters) - MCH GROUP AG  MCHN.S :
    * MEDIA RELEASE | MCH GROUP | CAPITAL INCREASE AND NEW
SHAREHOLDER
    * WILL PROPOSE TO SHAREHOLDERS COMPREHENSIVE SET OF MEASURES
INCLUDING A CAPITAL INCREASE TOTALLING CHF 104.5 MILLION
    * ALSO TO PROPOSE ENTRY OF LUPA SYSTEMS AS NEW ANCHOR
SHAREHOLDER
AND RESTRUCTURING OF GROUP’S DEBT CAPITAL AT EXTRAORDINARY
GENERAL MEETING ON 3 AUGUST 2020
    * IN LINE WITH THE PUBLIC SECTOR SHAREHOLDERS, LUPA SYSTEMS
IS
EXPECTED TO HOLD AROUND ONE THIRD OF THE SHARES
    * ISSUE PRICE FOR THE NEW SHARES HAS BEEN SET AT CHF 10.50
    * IN ORDER TO REFINANCE THE CHF 100 MILLION BOND ISSUE DUE
IN 2023
FOLLOWING THE CAPITAL INCREASE, A PUBLIC BOND EXCHANGE OFFER IS
ALSO PLANNED
    * REDUCTION OF BOARD OF DIRECTORS TO MAXIMUM OF NINE MEMBERS
AND
ITS PARTIAL REPLACEMENT WILL BE COMPLETED UNTIL ANNUAL GENERAL
MEETING 2021
    * ULRICH VISCHER WILL SERVE AS CHAIRMAN UNTIL THE ANNUAL
GENERAL
MEETING 2021

Source text for Eikon:  ID:nGNE9ts6m4 
Further company coverage:  MCHN.S 

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