Arbonia has initiated a squeeze-out procedure; Looser Holding AG intends to delist its shares

Arbonia AG, Arbon (Arbonia), has informed Looser Holding AG that it currently holds a total of more than 98 percent of the Looser Holding share capital due to the acquisition of additional Looser shares, and yesterday filed a lawsuit with the competent court in the canton of Thurgau regarding the invalidation of the remaining Looser shares pursuant to Article 137 of the Swiss Federal Act on Financial Market Infrastructures.

This means that the remaining Looser shares held by public shareholders will be declared legally invalid and the shareholders will receive compensation equivalent to the offer price paid per Looser share as part of the public purchase and exchange offer as soon as the court decision becomes final. The offer price per Looser share amounted to five and a half registered Arbonia shares with a par value of CHF 4.20 each (exchange component) plus CHF 23.00 cash (cash component).

Looser intends to submit a request to the SIX Swiss Exchange for the delisting of all shares. The delisting is to take place after the invalidation decision becomes legally binding. For the period up to the point when effective delisting takes place, a request has been submitted to the SIX Swiss Exchange to grant exemptions from certain conditions on maintaining the listing pursuant to the listing rules.