Züblin: BoD plans share consolidation
The Board of Directors of Züblin Immobilien Holding will propose a so-called reverse stock split at an Extraordinary General Meeting on February 29, 2016. The plan is to combine 450 existing shares into one new share.
The low par value of CHF 0.05 per registered share resulting from last year's capital restructuring has an aggravating effect on normal trading and makes the stock less attractive for investors, Züblin writes in a media release. The reverse stock split is intended to counteract this. After the consolidation of the shares in a ratio of 450:1, one registered share will have a par value of CHF 22.50.
The major shareholder Lamesa Holding S.A. has undertaken vis-à-vis the Board of Directors to make available free of charge the number of shares required for the settlement so that each existing shareholder receives at least one share and in any case a round number of shares. (ah)
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