Ordinance
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Ordinance, FinMIO)

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.

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