Siegfried with new shareholders

09-Mar-2010 - Switzerland

Siegfried Holding AG announced changes in its shareholding structure: Camellia plc, Siegfried Holding AG’s largest shareholder, informed the company that it sold its entire holding of 903,680 shares in Siegfried Holding AG to several independent investors. The investors include Rainer-Marc Frey; SE Swiss Equities AG, a Zurich-based asset management company; and BIH SA, which is owned by Swiss industrialist Thomas Schmidheiny. Moreover, Sigamed AG, a Siegfried Holding AG subsidiary, to a small degree took advantage of its right of first refusal in terms of a shareholders’ agreement with Camellia in order to establish a management participation program. Execution of the purchasing agreements is subject to various conditions, especially the approval of the general meeting of shareholders concerning the capital increase and abolishment of restrictions on transferability, as well as conditions of a regulatory nature. Execution will most probably be carried out following the 2010 annual general meeting scheduled for 14 April 2010.

Siegfried will , issue a mandatory convertible note with marketable advance subscription rights to facilitate the rapid implementation of its growth strategy. Rainer-Marc Frey, BIH SA and a further investor committed themselves to acquire advance subscription rights that have not been subscribed for by means of a so-called “backstop underwriting”. Within the parameters of the transaction, the board of directors and the management board plan to introduce a management participation program to be developed in the coming weeks.

The board of directors welcomes the new investors and their support of the strategy. Chairman Markus Altwegg: “Thanks to the investors’ personal commitment, the newly acquired financial means and Siegfried’s sound balance sheet, the new strategic course can now be implemented rapidly and with full force.”

https://www.bionity.com/en/news/114549/siegfried-with-new-shareholders.html