Shareholders approve proposal for voluntary delisting of Swiss Steel Holding AG shares
|
Swiss Steel Holding AG
/ Key word(s): AGMEGM
Emmenbrücke, February 17, 2025 – Swiss Steel Holding AG, a leading supplier of special long steel, announces that its shareholders have approved the proposal of the Board of Directors to voluntarily delist the shares from the SIX Swiss Exchange at today's Extraordinary General Meeting. The shareholders approved the proposal with a majority of 98.83 % of the votes represented. Swiss Steel Group is thus following its strategic direction, which focuses on operational efficiency, structural simplification and long-term competitiveness. The voluntary delisting takes place against the backdrop of a changed shareholder structure with a very low free float of 11.29 % and, as a result, an extremely low trading volume of Swiss Steel Holding AG shares. At the same time, the administrative costs and regulatory requirements of a stock exchange listing are disproportionate to the benefits for shareholders. Swiss Steel Group has already submitted the voluntary delisting application to the SIX Regulatory Board. SIX Swiss Exchange will decide on the approval and the last trading day. The last trading day is usually between three and twelve months after approval by the exchange. To continue to offer shareholders the opportunity to trade their shares, Swiss Steel Group plans to enable trading on an over-the-counter trading platform. For more information: About Swiss Steel Group Swiss Steel Group with headquarters in Lucerne (Switzerland) is one of the world’s leading producers of special steel long products. Thanks to the exclusive use of steel scrap in electric arc furnaces, the Group is one of the most relevant companies in Europe in the circular economy and is among the market leaders in the field of sustainably produced steel - Green Steel. Swiss Steel Group has its own production and distribution entities in over 30 countries and, through its strong local presence, offers a wide range of individual solutions in the fields of engineering steel, stainless steel, and tool steel. Swiss Steel Group is listed on the SIX Swiss Exchange and generated a revenue of around EUR 3.2 billion in 2023 with approximately 8,800 employees. Forward-looking statements This media release contains forward-looking statements, including presentations of developments, plans, intentions, assumptions, expectations, beliefs and potential impacts, as well as descriptions of future events, income, results, situations or outlooks. These are based on the Company's current expectations, beliefs and assumptions, which may differ materially from future results, performance or achievements. The information contained herein is provided with the publication of this document. The forward-looking statements contained herein are not updated as a result of new information, future events or for any other reason.
End of Media Release |
| Language: | English |
| Company: | Swiss Steel Holding AG |
| Werkstrasse 7 | |
| 6020 Emmenbrücke | |
| Switzerland | |
| Phone: | +41 41 581 41 23 |
| E-mail: | a.beeler@swisssteelgroup.com |
| Internet: | www.swisssteel-group.com |
| ISIN: | CH1351577726 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2087493 |
| End of News | EQS News Service |
|
|
2087493 17.02.2025 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.