Brief: Schmolz & Bickenbach Says Investor Requests Must Be Approved to Ensure Survival

Swiss Steel Holding AG

25/11/2019 06:09

Nov 25 (Reuters) - Schmolz+Bickenbach AG  STLN.S :
    * SAYS HAS RECEIVED SWISS TAKEOVER BOARD NOTICE THAT
REQUESTS OF
MARTIN HAEFNER/BIGPOINT HOLDING AG AND LIWET HOLDING AG,
RESPECTIVELY, REGARDING AN EXEMPTION FROM OBLIGATION TO MAKE AN
OFFER IN CONNECTION WITH PLANNED CAPITAL INCREASE REGARDING
SCHMOLZ + BICKENBACH, HAVE BEEN REJECTED
    * SAYS CONTESTS DECISION AND FILED AN APPEAL AGAINST IT
TODAY WITH
SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA
    * SAYS IS CONVINCED THAT REQUESTS OF MARTIN HAEFNER/BIGPOINT
HOLDING AG AND LIWET HOLDING AG MUST BE APPROVED IN ORDER TO
ENSURE CONTINUED EXISTENCE OF COMPANY
    * SAYS WAS INFORMED ON FRIDAY EVENING OF DECISION OF SWISS
TAKEOVER BOARD NOT TO GRANT ANY EXCEPTIONS TO OBLIGATION TO MAKE
AN OFFER IN CONNECTION WITH PLANNED CAPITAL INCREASE
    * SAYS WITHOUT SUCH EXCEPTIONS, MAJOR SHAREHOLDERS WILL NOT
PARTICIPATE IN CAPITAL INCREASE OR WILL NOT DO SO TO A
SUFFICIENT EXTENT

Source text for Eikon:  ID: 
Further company coverage:  STLN.S 

 (Reporting by John Miller)
 ((J.Miller@thomsonreuters.com;))