Basel-Stadt supports the plans for a capital increase for MCH Group Ltd.
The parliament of the Canton of Basel-Stadt has approved the proposals put forward by the cantonal government and the Economic and Fiscal Affairs Committee (WAK) regarding a potential capital increase for MCH Group Ltd. The Canton of Basel-Stadt will waive the exercise of its subscription right, and the government is authorised to convert a loan of CHF 30 million into share capital.
The Canton of Basel-Stadt is thus making it possible for a new investor to acquire a significant minority holding in the event of a capital increase. At the same time, the Canton is ensuring that the public sector maintains a stake of more than 33.3%, enabling it to prevent changes to the Statutes.
The waiver of its subscription right and the conversion of its loan by the Canton of Basel-Stadt constitute key cornerstones of MCH Group Ltd.'s intended transaction. If the negotiations with potential investors can be brought to a successful conclusion, the capital increase and the associated structural changes will be submitted to the shareholders of MCH Group Ltd. at an Extraordinary General Meeting. The outcome of the negotiations still remains open at present.
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Media contact:
MCH Group AG / Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker@mch-group.com
www.mch-group.com
