As reported by Arcinfo, in addition to the several changes in the Board of Directors, HC La Chaux-de-Fonds will carry out a recapitalization, in order to comply with the new law on public companies. "For two years now, it has no longer been possible to hold bearer shares in Switzerland," explains Pascal Moesch, a lawyer and outgoing member of the HCC Board of Directors after 13 years. "We have to convert them into registered shares. We will, therefore, present an artificial book loss to reduce our share capital to zero."
At the same time as this accounting operation, a subscription will be launched to build up new share capital: "Each current shareholder will have the right to subscribe to the new capital in proportion to the number of shares they now own," says Moesch.
As this subscription will enable HCC to free up new liquidity for the future, Moesch thinks that it is an ideal solution: "Together with the former management, we will be able to leave with clean accounts and a clean balance sheet."
The current shareholders of HC La Chaux-de-Fonds will have to decide on this recapitalization and the following new subscription at the general assembly in June.