The Swiss stock exchange is delisting the shares of insolvent solar manufacturer Meyer Burger. The company, which is based in Thun, Switzerland, announced the decision by the regulatory body of the Swiss stock exchange SIX.
Annual report not published on time
This means that January 13 of next year will be the last trading day for the securities. Trading in the shares will resume by then. Trading had been suspended in the meantime after the company failed to publish its annual report on time.
In mid-September, the company announced that it no longer saw any chance of rescuing the entire group. 600 employees in solar cell production in Bitterfeld-Wolfen and at the Hohenstein-Ernstthal development site were made redundant.
Last year, Meyer Burger had already closed module production in Freiberg, Saxony, and shifted its focus to the USA. According to the information provided, around 300 employees were also made redundant there in May. Investors are also hoping in vain for a dividend "because all remaining assets are to be used for the partial repayment of outstanding liabilities", the company added.
