At an extraordinary general meeting (AGM) in Emmenbrücke, Swiss Steel shareholders overwhelmingly supported the latest capital increase, which was approved with almost no dissenting votes. The decision was a crucial moment for Martin Haefner, who has invested a significant amount of money into the company. Haefner, the owner of the car importer Amag, has been a key player in the future of Swiss Steel, providing much-needed financial support.
While disputes between major shareholders have left their mark on the company, Haefner’s commitment to its future success was evident in his substantial investment. The total gross amount of the capital increase was almost 287 million francs, and Haefner promised to underwrite the entire volume if necessary.
Despite Haefner’s efforts to secure financial stability for Swiss Steel, disagreements among other major shareholders like Liwet and Peter Spuhler have strained the company’s efforts to move forward. Alder acknowledged these challenges in his announcement that he would not run for re-election as president. Shareholders will need to consider new leadership for Swiss Steel in the coming months as they work to regain trust from customers, suppliers, and employees.
The market reaction to the capital increase was positive, with Swiss Steel shares jumping 8.5 percent. However, its securities are still traded at a low value. While fresh funds and refinanced bank loans may provide some stability for the next few years, Swiss Steel must overcome significant challenges to secure its long-term future.
In conclusion, while Swiss Steel has secured much-needed funding through its latest capital increase, disputes among major shareholders continue to pose a threat to its long-term success. As shareholders consider new leadership and work to overcome these challenges, they must remain vigilant and committed to ensuring that Swiss Steel remains competitive in an increasingly competitive marketplace.
