Arbon (ots) - Arbon, 15 June 2017 - In the cancellation procedure initiated by Arbonia AG, the High Court of the Canton of Thurgau decided on June 9, 2017, that all publicly held registered shares in Looser Holding AG with a nominal value of CHF 8.43 each shall be cancelled based on article 137 of the Swiss Financial Market Infrastructure Act (Finanzmarktinfrastrukturgesetz). Both parties, Arbonia AG and Looser Holding AG, have waived their right to appeal. The parties expect to receive a confirmation that the judgement is legally binding and non-appealable shortly.
The former shareholders of Looser Holding AG affected by the cancellation are paid a compensation in the amount of 5.5 registered shares in Arbonia AG plus CHF 23.00 in cash for each Looser share declared invalid, which corresponds to the offering price in the public purchase and exchange offer of Arbonia AG for all publicly held registered shares in Looser Holding AG. The compensation for the Looser Holding AG shareholders affected by the cancellation is expected to be settled and paid on June 29, 2017. The cash settlement for the fractional amounts is expected to take place on June 30, 2017.
Further information about Arbonia can be found on the website: www.arbonia.com
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