The shareholders approved the proposal with a majority of 98.83 % of the votes represented. Swiss Steel Group is thus following its strategic direction, which focuses on operational efficiency, structural simplification and long-term competitiveness.
The voluntary delisting takes place against the backdrop of a changed shareholder structure with a very low free float of 11.29 % and, as a result, an extremely low trading volume of Swiss Steel Holding AG shares. At the same time, the administrative costs and regulatory requirements of a stock exchange listing are disproportionate to the benefits for shareholders.
Swiss Steel Group has already submitted the voluntary delisting application to the SIX Regulatory Board. SIX Swiss Exchange will decide on the approval and the last trading day. The last trading day is usually between three and twelve months after approval by the exchange.
To continue to offer shareholders the opportunity to trade their shares, Swiss Steel Group plans to enable trading on an over-the-counter trading platform.