Burkhalter Holding Ltd secures 175 jobs

Media release

Burkhalter Holding Ltd secures 175 jobs

The judge in the insolvency proceedings has accepted the offer of Burkhalter Holding Ltd to secure the jobs of the employees of Elektrizitäts AG EAGB.

Zurich, 4 December 2020

Welcoming the plan put forward by Burkhalter Holding Ltd, the judge in the proceedings has approved it today. Under the plan, Burkhalter Holding Ltd is transferring 175 employees (37 of whom are apprentices) and a large portion of the orders held by Elektrizitäts AG EAGB - the company subject to the insolvency proceedings - into the receiving company Elektrotechnik AG EAGB, which was set up for this purpose. The jobs are secured and the company's current business activities will continue.

Elektrizitäts AG EAGB's business premises in Basel will be retained and, as of 4 December 2020, will be managed under the name Elektrotechnik AG EAGB as a company within the Burkhalter Group. Norbert Höferlin, customer services manager at Elektrizitäts AG EAGB since 2018, has been appointed managing director of Elektrotechnik AG EAGB.

Further information:

Burkhalter Holding Ltd

Elisabeth Dorigatti, Head of Communications and Investor Relations

[phone]

[e-mail]

Information about the Burkhalter Group: www.burkhalter.ch

The Burkhalter Group is the leading provider of electrical engineering services to the construction sector and, with almost 50 Group companies, is represented at more than 100 locations in Switzerland. As at 31 December 2019, it achieved an operating result (EBIT) of CHF 27.3 million, a Group profit of CHF 22.3 million and sales of CHF 505.9 million and employed 2,990 employees (FTE, of whom 645 apprentices). The Group is headquartered in Zurich. Burkhalter Holding Ltd is listed on the SIX Swiss Exchange (ticker symbol BRKN, security number 21225580, ISIN CH0212255803).

Electrical engineering begins at the power utility company and includes all the processes that culminate in the management of electrical machines and installations for the end user. As a leading provider of electrical engineering services to the construction sector in Switzerland, we provide a full range of high-quality, precision services: installations, switchboards, servicing and maintenance, telematics, automation and security. In short: we offer 360° Swiss electrotechnics.

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https://www.burkhalter.ch/en/about-us/investor-relations/publications

Disclaimer

This media release contains forward-looking statements such as projections, forecasts and estimates. These forward-looking statements are subject to certain risks and uncertainties that could mean that actual results, performance or events differ significantly from those anticipated in this media release. The forward-looking statements in this media release are based on Burkhalter Holding AG's current opinions and assumptions. Also, Burkhalter Holding AG assumes no obligation to update or supplement this media release. This media release does not constitute an advertisement, quotation, recommendation or invitation to purchase shares in any jurisdiction. It is neither an (issue) prospectus in accordance with Art. 35 of the Federal Act on Financial Services or Art. 652a (repealed as of 1 January 2020) of the Swiss Civil Code nor a listing prospectus in accordance with Art. 27 of the listing rules of SIX Swiss Exchange.

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