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29. October 2019

SCHMOLZ + BICKENBACH receives request from Liwet Holding AG to replace the Board of Directors

Lucerne, October 29, 2019 – SCHMOLZ + BICKENBACH AG (S+B“), a global leader in special long steel, informs that its major shareholder Liwet Holding AG ("Liwet") has requested the convocation of an Extraordinary General Meeting ("EGM"). Liwet intends to propose to the EGM that the Board of Directors ("BoD") will be reappointed. The Board of Directors acknowledged receipt of Liwet's proposal and will inform about the next steps in due course.

 

Yesterday, Liwet requested S+B to convene an Extraordinary General Meeting within sixty days in accordance with S+B's Articles of Association. The only requested agenda item is the replacement of the Board of Directors. As per Liwet’s proposal four acting members of the Board of Directors are to be voted out of office: Jens Alder (Chairman and Chairman of the Compensation Committee), Michael Büchter (member of the Audit Committee), Isabel Corinna Knauf (member of the Compensation Committee) and Adrian Widmer (Chairman of the Audit Committee). Liwet proposes to replace these four members by the election of four new members to the BoD. The proposed new members are Dr Jürgen Geissinger (additionally as Chairman of the BoD and member of the Compensation Committee), Prof Dr Aldo Belloni, Inka Koljonen and Prof Dr Michael Süss (additionally as member of the Compensation Committee).

 

The BoD acknowledged receipt of Liwet's proposal and will inform about the next steps in due course.

 

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