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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Schmolz + Bickenbach AG    STLN   CH0005795668

SCHMOLZ + BICKENBACH AG

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SCHMOLZ + BICKENBACH : shareholders approve capital increase

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12/02/2019 | 12:15pm EST

2. December 2019

In view of the successful execution of the upcoming capital increase of S+B, Martin Haefner is waiving one of the conditions of his commitment to support the capital increase with up to CHF 325 million. Martin Haefner's commitment is no longer dependent on Liwet being excluded from the allocation of unexercised subscription rights as part of the planned capital increase. At the same time, Liwet has signaled that it will participate in the capital increase with a substantial sum.

The capital reduction proposed by the Board of Directors for the purpose of the financial restructuring of the company and the simultaneous ordinary capital increase to at least the previous amount was accepted by the shareholders with 79.3% of the votes represented.

Jens Alder, Chairman: 'I am delighted that the vast majority of our shareholders have voted for the capital increase. Based on this positive outcome, we are confident that we will bring the refinancing process to a successful conclusion in the next few weeks.'

Prior to today's extraordinary shareholders' meeting (ESM), the Board of Directors removed from the proposed possible issue prices of CHF 0.30, CHF 0.25, CHF 0.20 or CHF 0.15 per share those below CHF 0.30 which were more than CHF 0.05 below the current market price (based on the closing price of SCHMOLZ + BICKENBACH shares of CHF 0.2175 on November 29, 2019). The removal of the issue price of CHF 0.15 was announced this ahead of the ESM in the form of a media release. Accordingly, only issue prices of CHF 0.30, CHF 0.25 and CHF 0.20 per share were proposed to and approved by the ESM.

SCHMOLZ + BICKENBACH will provide further information on the envisaged capital increase once FINMA has published its decision regarding appeals submitted by Martin Haefner/BigPoint Holding AG and Liwet Holding AG against the Swiss Takeover Board's rejection of a restructuring exemption from the duty to make a tender offer in connection with the planned capital increase. FINMA is expected to publish its decision by Monday, December 9, 2019, before the start of trading.

- END -

Disclaimer

Schmolz+Bickenbach AG published this content on 02 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2019 17:14:06 UTC

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Financials (EUR)
Sales 2019 3 015 M
EBIT 2019 -162 M
Net income 2019 -486 M
Debt 2019 690 M
Yield 2019 -
P/E ratio 2019 -0,94x
P/E ratio 2020 -3,32x
EV / Sales2019 0,37x
EV / Sales2020 0,38x
Capitalization 431 M
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Technical analysis trends SCHMOLZ + BICKENBACH AG
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Mean consensus HOLD
Number of Analysts 3
Average target price 0,19  €
Last Close Price 0,21  €
Spread / Highest target 12,9%
Spread / Average Target -11,5%
Spread / Lowest Target -36,0%
EPS Revisions
Managers
NameTitle
Clemens Iller Chief Executive Officer
Jens Alder Chairman
Matthias Wellhausen Chief Financial Officer
Michael Büchter Independent Non-Executive Director
Oliver Thum Non-Executive Director
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