Swiss Steel Swiss Steel shareholders approve delisting
The shareholders of the Swiss Steel Group approved the proposals of the Board of Directors at the Extraordinary General Meeting held on Monday. They approved the application for voluntary delisting from the Swiss stock exchange.
17.02.2025, 20:28
SDA
According to a statement issued in the evening, the shareholders approved the proposal with a majority of 98.83 percent of the votes represented. Swiss Steel intends to save costs in particular with the delisting. The company will continue to pursue its strategic orientation, it said.
Swiss Steel had already submitted a delisting application to the SIX Regulatory Board. The stock exchange will now decide on the approval and the last trading day, it said. This is usually between three and twelve months after approval by SIX. According to the plans, the shares will be able to be traded on an OTC trading platform in future.
In the run-up to the shareholders' meeting, employee representatives, the trade unions Syna and Unia as well as the Swiss Commercial Association and Employees Switzerland, had called for a long-term perspective for the steelworks in Emmenbrücke and its employees.
Above all, Swiss Steel must apply for the financial support for electricity grid costs approved by parliament to save jobs, they said.
A site guarantee and a strategy for the continuation of steel production in Emmenbrücke were also demanded.
