Brief: Liwet Publishes Open Letter To Martin Haefner On Schmolz+Bickenbach

Swiss Steel Holding AG

02/12/2019 06:33

Dec 2(Reuters) - LIWET HOLDING AG:
    * SAID ON SUNDAY IT PUBLISHED AN OPEN LETTER TO MARTIN
HAEFNER 
    * THE COMPANY SAYS IT SHARES HAEFNER'S CONCERNS ABOT THE
FUTURE OF
SCHMOLZ+BICKENBACH (S+B)
    * SAYS IT IS READY TO RESCUE S+B AND THE 10,000 JOBS
    * SAYS IT IS READY TO INJECT AS MUCH MONEY AS NECESSARY FOR
S+B TO
SURVIVE
    * SAYS IT HAS SO FAR NOT RECEIVED A TRANSPARENT EXPLANATION
FROM
S+B ITSELF, NEITHER FROM THE MANAGEMENT NOR FROM THE BOARD OF
DIRECTORS OF S+B, AS TO HOW LARGE THE LIQUIDITY REQUIREMENT
REALLY IS
    * SAYS IT CALLS FOR SOLUTION WHICH MUST BE FAIR TO EVERYONE
AND
THAT CANNOT RESULT IN A CHANGE OF CONTROL
    * SAYS CAPITAL INCREASE MUST BE REALIZED, AVOIDING A CHANGE
OF
CONTROL AND GIVING AN OPPORTUNITY FOR ALL SHAREHOLDERS TO
PARTICIPATE PRO-RATA
    * SAYS IT IS READY TO DISCUSS THE COMPOSITION OF THE BOARD
OF
DIRECTORS FOR WORKING OUT A PLAN TO SAVE S+B

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEQfbD41a
    
   


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