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Sep 15, 2016 - Emmen

Ad hoc release: Change in shareholder structure of ALSO Holding AG

ALSO Holding AG (SIX: ALSN) reports a change in its ownership structure. Due to the ongoing exchange of ALSO shares relating to the Exchangeable Bond issued by Schindler Holding AG, Schindler announced that Schindler Holding AG’s investment holding of ALSO shares has fallen below 10 percent. Consequently the shareholders’ agreement between a subsidiary of Droege International Group AG and Schindler Holding AG, which hold the shares of ALSO, will be terminated.

During the merger of ALSO and Actebis in January 2011, Droege Group and Schindler Group signed a shareholders’ agreement to manage their holdings, which at that time comprised more than 81% in the new company, ALSO-Actebis Holding AG (now ALSO Holding AG). Because Schindler’s ownership share has now fallen below 10 percent, the shareholders’ agreement between Special Distribution Holding GmbH (a subsidiary of Droege International Group AG, majority shareholder of ALSO Holding AG) and Schindler Holding AG will be terminated as planned. Consequently, the contractually provided minority and representation rights of Schindler Holding AG will cease.

Special Distribution Holding GmbH remains the majority shareholder of ALSO Holding AG with a shareholding of 51.3 percent.

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