December 2, 2019 / 6:36 AM / 11 days ago

BRIEF-Liwet Publishes Open Letter To Martin Haefner On Schmolz+Bickenbach

Dec 2(Reuters) - LIWET HOLDING AG:

* SAID ON SUNDAY IT PUBLISHED AN OPEN LETTER TO MARTIN HAEFNER

* THE COMPANY SAYS IT SHARES HAEFNER’S CONCERNS ABOT THE FUTURE OF SCHMOLZ+BICKENBACH (S+B)

* SAYS IT IS READY TO RESCUE S+B AND THE 10,000 JOBS

* SAYS IT IS READY TO INJECT AS MUCH MONEY AS NECESSARY FOR S+B TO SURVIVE

* SAYS IT HAS SO FAR NOT RECEIVED A TRANSPARENT EXPLANATION FROM S+B ITSELF, NEITHER FROM THE MANAGEMENT NOR FROM THE BOARD OF DIRECTORS OF S+B, AS TO HOW LARGE THE LIQUIDITY REQUIREMENT REALLY IS

* SAYS IT CALLS FOR SOLUTION WHICH MUST BE FAIR TO EVERYONE AND THAT CANNOT RESULT IN A CHANGE OF CONTROL

* SAYS CAPITAL INCREASE MUST BE REALIZED, AVOIDING A CHANGE OF CONTROL AND GIVING AN OPPORTUNITY FOR ALL SHAREHOLDERS TO PARTICIPATE PRO-RATA

* SAYS IT IS READY TO DISCUSS THE COMPOSITION OF THE BOARD OF DIRECTORS FOR WORKING OUT A PLAN TO SAVE S+B

Source text for Eikon:

Gdansk Newsroom

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