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EQS-Ad-hoc: Schweizer Electronic AG / Key word(s): Disposal
Schweizer Electronic AG: Sale of majority stake in Schweizer Electronic (Jiangsu) Co., Ltd.
22-Dec-2022 / 10:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Schweizer Electronic AG: Sale of majority stake in Schweizer Electronic (Jiangsu) Co., Ltd.
Schramberg, December 22, 2022 – Schweizer Electronic AG today entered into an agreement to sell approximately 57 % of the shares in Schweizer Electronic (Jiangsu) Co., Ltd. based in Jintan, China ("SEC") to WUS Printed Circuit (Kunshan) Co., Ltd. based in Kunshan, China ("WUS"). Previously, Schweizer Electronic AG held approximately 87 % of SEC, in the future SCHWEIZER will hold a 30 % share in the Chinese company. Following the transfer of the shares, WUS is to subscribe for and acquire further shares in SEC as part of an increase in SEC's share capital which has yet to be resolved. After implementation of the future capital increase, WUS will hold an 80 % interest in SEC.
The entry of WUS will strengthen SEC’s equity capital for the volume production of the embedding technology. The SCHWEIZER embedding technology will thus be manufactured both at the plant in Schramberg and the plant in Jintan.
The closing of the transaction (Closing) is expected to take place in three to four months. The purchase price for the shares in SEC to be transferred under the Share Transfer Agreement amounts to CNY 33,450,000.
WUS holds 19.74 % of the shares in Schweizer Electronic AG. Mr. Chris WU is a member of the Supervisory Board of Schweizer Electronic AG and at the same time a member of the management of WUS and a family member of a shareholder controlling WUS. WUS is therefore a related party of Schweizer Electronic AG pursuant to Section 111a (1) sentence 2 AktG.
The Supervisory Board of Schweizer Electronic AG approved the conclusion of the Share Transfer Agreement on December 21, 2022. The Agreement still requires the approval of the shareholders' meeting of WUS to become effective.
The Management Board of Schweizer Electronic AG is currently reviewing whether and what effects the transaction will have on the forecast published by SCHWEIZER and will publish any necessary adjustments.
Contact:
Elisabeth Trik
Investor Relations
Phone: +49 7422 512 302
Fax: +49 7422 512 397
ir@schweizer.ag
Information and Explanation of the Issuer to this announcement:
About SCHWEIZER
Schweizer Electronic AG offers the latest, cutting-edge technology and consultancy expertise in the PCB industry. Thanks to its state-of-the-art production facilities in Schramberg, Germany and Jintan, China as well as close partnerships with other technology leaders, SCHWEIZER provides individual PCB & Embedding solutions. SCHWEIZER's innovative PCB technologies are used in the most demanding applications, for example, in the Automotive, Aviation, Industry & Medical and Communications & Computing sectors, and are characterised by their extremely high quality and energy-saving and environmentally-friendly features.
The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol „SCE“, „ISIN DE 000515623“).
For further information please contact:
Elisabeth Trik
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-302
E-mail: elisabeth.trik@schweizer.ag
Please visit our website: www.schweizer.ag
22-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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