In a decisive moment for Swiss Steel, the company’s shareholders overwhelmingly approved a capital increase of almost 287 million francs. The approval was endorsed by major shareholders such as Martin Haefner, who has invested significantly in the company and committed to its future success.
However, disputes between major shareholders like Liwet and Peter Spuhler have left their mark on the company. Disagreements among shareholders have strained Swiss Steel’s efforts to move forward, with Haefner and Alder acknowledging the challenges they have faced in reaching common ground. Despite this, Haefner has played a crucial role in Swiss Steel’s financial stability and has pledged to underwrite the entire volume if necessary.
Following the AGM, it was revealed that Alder would not run for re-election as president. Shareholders will need to consider new leadership for Swiss Steel in the coming months. While the recent capital increase provided some stability for the next few years, the company must overcome significant challenges to secure its long-term future.
The market reaction to the capital increase was positive, with Swiss Steel shares jumping 8.5 percent. However, the company’s securities are still traded at a low value. The fresh funds and refinanced bank loans may provide some stability for the next few years, but it remains uncertain how successful Swiss Steel will be in regaining trust from customers, suppliers, and employees as it works to move forward into an uncertain future.
