Total renewal of Board of Directors is approved
Emmenbrücke, 26 September 2013 – The Extraordinary General Meeting of SCHMOLZ+BICKENBACH AG (listed on the Swiss Stock Exchange, SIX: STLN) has followed the Board of Directors’ proposal and approved by a large majority an ordinary capital increase that should raise a gross sum of CHF 438,243,750 for SCHMOLZ+BICKENBACH AG. Before this, the EGM revoked the resolution passed by the General Meeting of 28 June 2013 to increase capital by just CHF 330 million. The company intends to use the new funds to strengthen its equity base and to pay back some of its financial liabilities. The capital increase approved by the EGM can be implemented as planned.
The subscription period runs from 1 October 2013 to 8 October 2013, 12 noon (CEST). The first trading day for the new registered shares on the SIX Swiss Exchange is scheduled for 9 October 2013.
The General Meeting also elected a new Board of Directors, which now has the following members: Michael Büchter, Edwin Eichler, Vladimir V. Kuznetsov, Marco Musetti, Dr. Heinz Schumacher, Dr. Oliver Thum and Hans Ziegler. At the subsequent constituent meeting of the Board of Directors, Edwin Eichler was elected as Chairman of the Board; his deputy is Vladimir V. Kuznetsov.
About SCHMOLZ+BICKENBACH
SCHMOLZ+BICKENBACH was established in 1919 in Dusseldorf by Arthur Schmolz and Oswald Bickenbach. Since 1937 the company bearing their names has been a synonym for tradition in steel. Since the acquisition of the former Swiss Steel AG in 2003, SCHMOLZ+BICKENBACH has been listed on the SIX Swiss Exchange (STLN). Today, the SCHMOLZ+BICKENBACH Group is one of the world’s largest manufacturers, processors and distributors of special-steel long products. The Group has a total of approximately 10 000 employees. SCHMOLZ+BICKENBACH is one of the leading producers of stainless long steels as well as tool steels, and is one of the ten largest companies for alloy and high-alloy special and engineering steels.