Siegfried Holding AG announces changes in its shareholding structure:
Camellia plc, Siegfried Holding AG’s largest shareholder, informed the company that it sold its entire holding of 903,680 shares in Siegfried Holding AG to several independent investors. The investors include Rainer-Marc Frey; SE Swiss Equities AG, a Zurich-based asset management company; and BIH SA, which is owned by Swiss industrialist Thomas Schmidheiny. Moreover, Sigamed AG, a Siegfried Holding AG subsidiary, to a small degree took advantage of its right of first refusal in terms of a shareholders’ agreement with Camellia in order to establish a management participation program. Execution of the purchasing agreements is subject to various conditions, especially the approval of the general meeting of shareholders concerning the capital increase and abolishment of restrictions on transferability, as well as conditions of a regulatory nature. Execution will most probably be carried out following the 2010 annual general meeting scheduled for 14 April 2010.
Siegfried will, as announced earlier, issue a mandatory convertible note with marketable advance subscription rights to facilitate the rapid implementation of its growth strategy. Rainer-Marc Frey, BIH SA and a further investor committed themselves to acquire advance subscription rights that have not been subscribed for by means of a so-called “backstop underwriting”. Within the parameters of the transaction, the board of directors and the management board plan to introduce a management participation program to be developed in the coming weeks.
The board of directors welcomes the new investors and their support of the strategy. Chairman Markus Altwegg: “Thanks to the investors’ personal commitment, the newly acquired financial means and Siegfried’s sound balance sheet, the new strategic course can now be implemented rapidly and with full force.” Rainer-Marc Frey: “As a service provider to the pharmaceutical industry, Siegfried is active in a growth market, and from this perspective its growth potential is outstanding. I am convinced that the company’s management will take full advantage of this potential. I have therefore decided to commit my personal financial means to this company.”
Shareholders will receive detailed information concerning the planned capital increase along with the invitation to the 2010 annual general meeting.
About Siegfried
Active in Life Science markets, the Siegfried Group is a global manufacturer of pharmaceutical products with production facilities located in Switzerland, Germany, Malta and the USA, Siegfried currently has approximately 850 employees and achieved annual sales of approx. CHF 283 million in 2009. Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the researchbased pharmaceutical industry as well as the corresponding intermediate steps and standard products, and provides development and production services for drugs in finished dosage forms.
Siegfried Holding AG is listed on the Swiss Exchange in Zurich (SWX: SFZN).
