EQS-Adhoc
HOCHDORF Holding Ltd: Signing of agreement and extraordinary General Meeting
EQS Group-Ad-hoc: HOCHDORF Holding AG / Key word(s): Takeover/AGM/EGM
HOCHDORF Holding Ltd: Signing of agreement and extraordinary General Meeting
25.10.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
HOCHDORF Holding Ltd: Signing of agreement and extraordinary General Meeting
25.10.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
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HOCHDORF Group Press Release: Signing of agreement / Extraordinary General
Meeting
HOCHDORF signs agreement on majority holding of Pharmalys Laboratories SA
Hochdorf, 24 October 2016 - The HOCHDORF Group has signed the purchase
agreement to acquire 51% of Pharmalys Laboratories SA, 51% of Pharmalys
Tunisia Ltd SA and 51% of Pharmalys Africa Sarl, which is to be founded
jointly. The agreement takes the HOCHDORF Group a significant step towards
the end consumer in the Baby Care business area. The acquisition is
expected to be completed by the end of 2016.
The HOCHDORF Group has been producing infant formula since 1908, primarily
for the Swiss market up to 2006, when HOCHDORF launched its successful
internationalisation project. To date, however, the company has not been
active on the end-consumer market. This will change with a 51% majority
holding in Pharmalys Laboratories SA, Pharmalys Tunisia SA and Pharmalys
Africa Sarl.
Historic step for the HOCHDORF Group
"By signing this agreement, we have met the legal objectives of the
statement of intent," said a delighted HOCHDORF CEO, Dr Thomas Eisenring.
Chairman of the Board of Directors, Josef Leu, explained: "This majority
shareholding represents a historic step for the HOCHDORF Group - a step
towards the end consumer." Amir Mechria, appointed CEO of Pharmalys, also
spoke in terms of a huge development for Pharmalys: "This mutual
shareholding allows Pharmalys to gain access to high-value Swiss products."
Leu, Eisenring and Mechria all emphasised how the planned Kid's Food
products will add great value to the close collaboration.
The acquisition of the shareholding is expected to be completed by the end
of 2016.
Extraordinary General Meeting
HOCHDORF has been supplying the Pharmalys Group with infant formula since
2008. A close collaboration has developed over this period, with Pharmalys
becoming one of HOCHDORF's biggest customers in the area of Baby Care. No
significant changes are anticipated in the cooperation with the Pharmalys
team. Amir Mechria is therefore also interested in HOCHDORF Holding Ltd
shares and a share exchange. In order to be able to complete the majority
shareholding, the HOCHDORF Holding Ltd Board of Directors is requesting a
conditional capital increase to a maximum amount of 717,380 fully paid-in
registered shares with a nominal value of CHF 10 and an increase to the
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