Schuler AG resolves to delist its shares from the stock exchange. The Board of Management will submit the corresponding application to revoke its admission to trading on the Regulated Market to the stock exchanges of Frankfurt and Stuttgart, Germany. The Board of Management expects that the so-called delisting will become effective six months after the revocation is published by the respective stock exchange management. The Schuler AG share will then subsequently no longer be traded on the Regulated Market. Schuler shares have been listed for trading on the Regulated Market of the Frankfurt and Stuttgart stock exchanges since March 23, 1999.
In his explanation of the Board of Management’s decision, CEO Stefan Klebert states: “Schuler will remain a public limited company, but in the interests of the company we want to avoid the extensive disclosure obligations which listed corporations have to meet.” Schuler expects to make annual savings in the six-figure euro range.
The Austrian ANDRITZ Group now holds over 95 percent of Schuler shares. The remaining shares are widely held. “In view of this low free float ratio, the capital market is no longer an appropriate financial instrument for us,” added Klebert. Moreover, the low free float ratio means that only very small volumes are still being traded via the stock exchange. “Thus our stock exchange listing has more financial disadvantages for us as a company than advantages. We do not see any added value,” concluded Klebert.
