Troubled Swiss company Meyer Burger to be delisted
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Troubled Swiss company Meyer Burger to be delisted
The shares of solar cell manufacturer Meyer Burger will probably have to leave the Swiss stock exchange SIX. The Regulatory Board of SIX Group has approved a corresponding application by SIX Exchange Regulation.
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In addition, the company, which is in insolvency proceedings, will not be granted a temporary exemption from maintenance obligations regarding the publication and submission of the 2024 annual report, according to a press release on Tuesday.
The reasons for the delay in the submission and publication of the annual report continue to exist. It is currently not foreseeable that these will cease to apply within the requested deadline, the statement explained.
+ Swiss company Meyer Burger goes bust
The decision of the regulatory board is not yet legally binding. It can be appealed to the appeal body within 20 days. Trading in Meyer Burger shares will remain suspended for the time being. Trading will be re-opened once the legally binding delisting has been announced and will remain open for three months until the last day of trading.
The company has been in crisis for some time. At the beginning of June, Meyer Burger filed for insolvency for its German subsidiary, followed by an application for insolvency in the US at the end of June. Operations at the German plants were suspended at the beginning of September after talks with investors had so far been unsuccessful.
Translated from German by DeepL/ts
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