Fribourg, Switzerland, 31 January 2020 – LEM (SIX: LEHN)
The Swiss Takeover Board re-confirmed in a new decision that the “opting out” clause in Article 8 of LEM’s Articles of Association remains valid. This means that any shareholder or group of shareholders who exceeds the threshold of 33 ⅓% of the voting rights of LEM Holding SA, is not obliged to make a public takeover bid for the remaining shares. The new decision is appealable and not yet final and binding.
The Takeover Board's decision reaffirms its prior decisions on the matter of 25 October 2019 and of 22 September 2011.
In this new decision, the Takeover Board has rejected the objection of LEM’s shareholder 7-Industries Holding B.V. against its decision of 25 October 2019.
Attached below is the relevant publication required to be made under Swiss takeover law by the Board of Directors of LEM Holding SA, available in French, German and English.
The full text of the Takeover Board decision can be accessed in French at www.takeover.ch
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