Canton of Basel-Stadt to participate in the planned capital increase of the MCH Group
The cantonal parliament of the Canton of Basel-Stadt has approved the proposals of the government and the parliamentary commission ("WAK") that the Canton of Basel-Stadt should participate in the planned capital increase of the MCH Group by acquiring new shares in the amount of up to CHF 34 million. In addition, repayment of the remaining loan of CHF 5.8 million that has not been converted into equity in 2020 is to be waived. The decision of the cantonal parliament is subject to a 42-day referendum period.
Subject to the participation of the Canton of Basel-Stadt, Lupa Systems – the second anchor shareholder alongside the Canton of Basel-Stadt – will participate to the same financial extent in the planned capital increase, which will also be carried out with subscription rights for all shareholders.
"The decision of the Basel-Stadt parliament is an important milestone for the realization of the necessary package of financial measures, which will enable the necessary investments for the company's growth and the refinancing of the CHF 100 million bond," says Chairman of the Board of Directors Andrea Zappia. "We are delighted with the approval of the parliament and the commitment to the Basel Exhibition and Congress Center. We will do everything in our power to justify the confidence expressed in MCH Group and to meet the expectations of the Basel region."
MCH Group will submit the capital increase to the shareholders at an extraordinary General Meeting once the decision of the Basel-Stadt parliament has become legally valid. The concrete modalities will be worked out in the coming weeks.
This document constitutes neither an offer nor an invitation to purchase or invest in securities of MCH Group AG or any of its group companies. This document is neither a prospectus within the meaning of the Federal Act on Financial Services ("FIDLEG") nor a prospectus under any other legislation or regulation. Copies of this document may not be sent to, distributed in or sent from countries where this is prohibited by law. Any decision to participate in the capital increase with subscription rights of MCH Group AG, if resolved by the Extraordinary General Meeting of MCH Group AG, must be made exclusively on the basis of a corresponding prospectus or supplement to the prospectus published by MCH Group AG in the event of a capital increase for this purpose, and not on the basis of this document.
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