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

03.02.2014

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. 

Media Contact

Vincent Pinto

Senior Vice President – NI Business
Schindler India Pvt. Ltd. 
Phone +912261314444
email:  vincent.pinto@in.schindler.com

Schindler will organize a telephone conference for financial analysts and media on
February 07th, 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.