Meyer Burger Shareholders Back CHF 200 Million Rights Issue to Fuel U.S. Expansion

During an Extraordinary General Meeting held on March 18, 2024, in Thun, shareholders of Meyer Burger Technology AG voiced robust support for the company's strategic move to bolster its production and distribution framework in the United States. With about 38.1% of the share capital represented, stakeholders overwhelmingly approved a rights issue aimed at raising approximately CHF 200 million. A staggering 95.99% of votes were in favor of the ordinary capital increase coupled with a reduction in the par value of shares.

The capital increase is structured as a rights offering to present shareholders, scheduled to commence post-closing on March 19, 2024. The subscription rights are set for trading on the SIX Swiss Exchange from March 20 through March 26, 2024, providing existing shareholders a window from March 20 to April 2, 2024, to exercise their rights. Expectedly, the newly issued shares will commence trading on April 5, 2024, although the Board of Directors reserves the right to adjust this timeline as deemed necessary.