Art. 121 Proceedings for cancelling outstanding equity securities
(Art. 137 FinMIA) 1 If the offeror brings an action against the company in an attempt to have the latter's outstanding equity securities cancelled, the court shall make this known to the public and inform the remaining shareholders that they may participate in the proceedings. In this respect, it shall set a timeframe of at least three months, beginning on the day of the first announcement. 2 The announcement shall be published three times in the Swiss Official Gazette of Commerce. In special cases, the court may arrange for appropriate publication in another manner. 3 If shareholders participate in the proceedings, they shall be independent of the defendant company in their litigious acts. 4 Notice of the cancellation must be published immediately in the Swiss Official Gazette of Commerce, as well as elsewhere at the court's discretion. |