Swiss Steel Holding AG Proposes Board Changes and Reverse Stock Split

Swiss Steel Holding AG, specializing in special long steel, has announced upcoming changes to its Board of Directors and a reverse stock split. The company revealed plans to nominate Alexander Gut, Karl Haider, and Martin Lindqvist as new board members during the Annual General Meeting on May 23, 2024. Additionally, Jens Alder will serve as Chairman temporarily until Lindqvist assumes the role.

The proposed reverse stock split, set at a ratio of 200:1, aims to increase the par value per share from CHF 0.08 to CHF 16.00. This move is designed to enhance the attractiveness of the company's shares to a broader investor base. The split will not affect the company's value or the aggregate value of shares held by investors, except for adjustments for fractional shares.

This transition accommodates the departure of Emese Weissenbacher, who will not seek re-election. The new nominations and procedural changes underscore Swiss Steel's strategic adjustments in leadership and financial structuring to bolster market performance and shareholder value.