Sika EGM approves creation of unitary shares
On June 11, 2018 the Extraordinary General Meeting of Sika overwhelmingly approved, among others, the creation of unitary registered shares, the abolishment of the opting-out and transfer restrictions as well as the cancellation of the treasury shares previously purchased from Schenker-Winkler Holding AG as part of the settlement with Saint-Gobain.
Lenz & Staehelin has been advising Sika on all legal matters since the announcement of the unsolicited takeover attempt by Saint-Gobain in December 2014. The approvals by the EGM constitute the final step in this unprecedented takeover dispute with Sika becoming a public company with state of the art governance.
For further information of Lenz & Staehelin’s role please refer to the previous announcements:
March 2015 - Lenz & Staehelin advises Sika in connection with planned takeover by Saint-Gobain
November 2016 - Cantonal Court of Zug rules in favor of Sika
May 2018 - Sika, the Burkard Family and Saint-Gobain reach Overall Settlement