SCHMOLZ + BICKENBACH receives request from Liwet Holding AG to replace the Board of Directors Dienstag, 29. Oktober 2019 - 07:00

Lucerne, October 29, 2019 – SCHMOLZ + BICKENBACH AG (S+B“), a global leader in special long steel, informs that its major shareholder Liwet Holding AG ("Liwet") has requested the convocation of an Extraordinary General Meeting ("EGM"). Liwet intends to propose to the EGM that the Board of Directors ("BoD") will be reappointed. The Board of Directors acknowledged receipt of Liwet's proposal and will inform about the next steps in due course.

Yesterday, Liwet requested S+B to convene an Extraordinary General Meeting within sixty days in accordance with S+B's Articles of Association. The only requested agenda item is the replacement of the Board of Directors. As per Liwet’s proposal four acting members of the Board of Directors are to be voted out of office: Jens Alder (Chairman and Chairman of the Compensation Committee), Michael Büchter (member of the Audit Committee), Isabel Corinna Knauf (member of the Compensation Committee) and Adrian Widmer (Chairman of the Audit Committee). Liwet proposes to replace these four members by the election of four new members to the BoD. The proposed new members are Dr Jürgen Geissinger (additionally as Chairman of the BoD and member of the Compensation Committee), Prof Dr Aldo Belloni, Inka Koljonen and Prof Dr Michael Süss (additionally as member of the Compensation Committee).

The BoD acknowledged receipt of Liwet's proposal and will inform about the next steps in due course.

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For further information:

Dr Ulrich Steiner

Vice President Corporate Communications, Investor Relations & CSR

Telephone +41 (0)41 581 4120

u.steiner@schmolz-bickenbach.com

www.schmolz-bickenbach.com

About SCHMOLZ + BICKENBACH

The SCHMOLZ + BICKENBACH Group is today one of the world's leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed quality and engineering steels. With more than 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, the company guarantees global support and supply for its customers and offers them a complete portfolio of production and sales & services around the world. Customers benefit from the company's technological expertise, consistently high product quality around the world as well as detailed knowledge of local markets.