Züblin: AGM clears the way for restructuring
The Extraordinary General Meeting of Züblin Immobilien Holding AG on October 29, 2015 approved all proposals of the Board of Directors. The way is now clear for the restructuring of the ailing company.
In particular, Tresag AG was elected as independent proxy for the remainder of the 2015/2016 financial year. The replacement election had become necessary because Andreas Schenker, who had only been elected as independent proxy on June 30, 2015, resigned from the office.
In addition, the shareholders again approved the restructuring measures already approved at the Annual General Meeting in June in the form of a capital reduction combined with a simultaneous ordinary capital increase.
Lamesa, the main shareholder of Züblin, has confirmed to fully acquire unsubscribed shares in the capital increase after the Swiss Takeover Board exempted it from the obligation to make a public tender offer under a reorganization exemption.
Shareholders also approved the creation of authorized share capital in the amount of approximately CHF 37 million and the corresponding amendment to the Articles of Association. (ah)
