May 7, 2020 / 5:22 AM / a month ago

BRIEF-Meier Tobler Group: Silvan G.-R. Meier Takes Over Ferguson's Share Package

May 7 (Reuters) - MEIER TOBLER GROUP AG:

* SILVAN G.-R. MEIER TAKES OVER FERGUSON'S SHARE PACKAGE AND GRANTS SUBSCRIPTION RIGHTS TO CO-SHAREHOLDERS

* CO-SHAREHOLDERS SHOULD HAVE SUBSCRIPTION RIGHTS TO PURCHASE ADDITIONAL SHARES

* PURCHASE PRICE IS CHF 8.75 PER SHARE

* SILVAN G.-R. MEIER WILL NOW HOLD 72.7% OF MEIER TOBLER'S CAPITAL DIRECTLY AND INDIRECTLY VIA MEIER CAPITAL AG

* AFTER A SATISFACTORY START TO Q1 2020, MEIER TOBLER SAW SIGNIFICANT DROP IN DEMAND OF OVER 20% FROM SECOND HALF OF MARCH

* CAN PROBABLY AVOID A NEGATIVE OPERATING CASH FLOW IN THE CRISIS MONTHS OF APRIL AND MAY AND ACHIEVE A SLIGHTLY POSITIVE RESULT AT EBITDA LEVEL

* AN OUTLOOK FOR THE YEAR AS A WHOLE CANNOT BE ESTIMATED AT THE PRESENT TIME Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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