All motions approved by extraordinary general meeting

In mid September 2016, Looser Holding AG signed a transaction agreement with Arbonia-Forster-Holding AG (AFG) on a business combination to implemented by way of a public purchase and exchange offer for all shares of Looser Holding AG held by members of the general public. The public purchase and exchange offer was submitted to the general-public shareholders by AFG on 29 September 2016. The implementation of this purchase and exchange offer is subject to the satisfaction of certain conditions which have been approved by the shareholders at the extraordinary general meeting held today.

The shareholders approved the motion for an amendment of the articles of incorporation to cancel the percentage limitation on share transfers (restriction of transferability). In addition, the motion to dispose of the Coatings segment has also been approved.

Alexander von Witzleben, Executive Chairman and delegate of the Board of Directors of AFG, Felix Bodmer, CFO and member of the Group Executive Board of AFG, as well as Christoph Fierz, CFO of Looser Holding AG, were appointed to the Board of Directors for a tenure ending at the next ordinary general meeting subject to and with effect as of the date of the acquisition of more than 50 percent of the shares in Looser Holding AG by AFG. Furthermore, Alexander von Witzleben was appointed as new Chairman of the Board Directors with effect as of the date of completion of the acquisition of more than 50 percent of the shares in Looser Holding AG by AFG. The former members of the Board of Directors, Rudolf Huber (Chairman), Marcella Looser-Paardekooper, Rudolf Hadorn, Thomas Lozser, Christian Wenger and Paul Zumbühl, have announced their resignation as of the date of completion of the acquisition of more than 50 percent of the shares in Looser Holding AG by AFG.