Schindler Holding AG: Schindler will not participate in the next capital increase of Hyundai Elevator Montag, 03. Februar 2014 - 20:48

Press release

February 3, 2014

Schindler will not participate in the next capital increase of Hyundai Elevator

As communicated earlier, Schindler Holding (“Schindler”) is opposed to the next capital increase of Hyundai Elevator (“Hyundai”) planned for February 2014. Accordingly, Schindler has decided not to participate in this capital increase and furthermore to sell its preemptive rights issued in connection therewith.

Schindler will organize a telephone conference for financial analysts and media on February 07^th, 2014 (at 10:00 am Swiss time; 18:00 Korea time) to further elaborate on its above decisions, as well as on its initial participation in Hyundai.

During this call, Schindler will explain in more details the two impairments required by IFRS, totaling CHF 219 million in fiscal year 2013.

In the telephone conference, Schindler will be represented by Alfred N. Schindler, Chairman, and Prof. Dr. K. Hofstetter, General Counsel and Member of the Board of Directors.

For information purposes: Preemptive rights are tradable entitlements of existing shareholders to participate in a capital increase in proportion to their current shareholding.

To participate in the conference call, please dial one of the following numbers:

+41 (0)58 310 50 00 (Europe)

+44 (0)203 059 58 62 (UK)

+1 (1)866 291 41 66 (USA – toll free)

We recommend dialing-in ten minutes before the conference call begins.

About Schindler

The Schindler Group, founded in Switzerland in 1874, is a leading global provider of elevators, escalators and related services. Its innovative and environmentally-friendly access and transit-management systems make an important contribution to mobility in urban societies. In 2012, the Schindler Group generated sales of more than CHF 8.2 billion. Schindler mobility solutions move one billion people every day all over the world. Behind the company's success are over 47,000 employees in over 100 countries.