Meier Tobler launches subscription offer until end of August

news-single-imgcaption" style="width:240px">No capital dilution is expected, insofar as the number of shares will remain the same, at 12 million. (Keystone)

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From May 25 until August 31, 2020, Meier Tobler shareholders will be able to exercise their subscription rights for the acquisition of new shares in the company. For each Meier Tobler share in their possession, they can acquire a new one at a price of 8.90 francs per share, the company said on Wednesday.

The trading of subscription rights comes at a time when Silvan Meier, chairman of the board of directors, bought through his holding company Meier Capital, a large share package from former shareholder Ferguson. The latter sold his 28.8% stake in the company for a price of 8.75 per share. Following the transaction, Mr. Meier holds a 72.7% stake in Meier Tobler.

In the process, Mr. Meier announced that all the public shareholders holding shares on May 22 will receive subscription rights to acquire additional shares. The difference of 0.15 francs is explained by a tax.

This decision was motivated by the desire “to grant its co-shareholders a subscription right so that they have the possibility of increasing their participation in Meier Tobler on comparable conditions”, according to the press release of May 7, 2020.

No capital dilution is expected, insofar as the number of shares will remain the same, at 12 million. (awp)

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