Hochdorf: Newlat board candidate Bösiger withdraws
Published: Tuesday, May 14th 2024, 12:50
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A new twist in the run-up to the Annual General Meeting of the financially troubled milk processor Hochdorf: Helmut Bösiger will no longer be available for the collective candidacy of the new major shareholder Newlat from Italy at the Annual General Meeting on Wednesday (tomorrow).
On Wednesday, Newlat wants nothing less than to replace the entire Hochdorf Board of Directors with its own candidates. In addition to the Swiss-Brazilian dual citizen Bösiger, Newlat President Angelo Mastrolia and four Italian citizens unknown in Switzerland have been put on the ticket.
The reason for his withdrawal was Newlat's "insufficiently well thought-out" restructuring plan, Bösiger explained in a statement to Hochdorf's management, which is available to the news agency AWP. A possible success would depend too much on a definition of the outstanding invoices of the partner Pharmalys. The offer to the holders of the hybrid bond would therefore be unsatisfactory and the entire restructuring would once again be on the brink. Moreover, Newlat did not consider it necessary to respond to his objections and proposals.
And Bösiger is even more serious: The restructuring plan is too closely aligned with the interests of Newlat. This can be seen from the reduction in Newlat's stake in Hochdorf last week: Newlat sold a 1.2 percent stake at a "handsome profit".
However, Bösiger would be available as an independent member of the Board of Directors of Hochdorf, as he emphasizes: "I am still available as an independent candidate for the Board of Directors in the event of a vacancy and hereby announce my candidacy."
As a member of the Board of Directors, Bösiger would make the swift restructuring of the hybrid bond his priority. "And with this mandate from the shareholders, I would work on the Board of Directors," he said.
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