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FINMA's Takeover and State Liability Committee reviews appeals against ruling 672/04 regarding SHL Telemedicine Ltd.

With ruling 672/04 of 1 September 2018, the Takeover Board (TOB) decided not to extend the deadline of 31 August 2018 for the submission of a mandatory public offer by Himalaya (Cayman Islands) TMT Fund, Himalaya Asset Management Ltd., Xiang Xu, Kun Shen and Mengke Cai to the shareholders of SHL Telemedicine Ltd. and found that the mandatory public offer was not submitted by the given deadline. The TOB has therefore suspended all voting rights and the associated rights of the bidders arising from the shares of SHL Telemedicine Ltd. with immediate effect until the publication of a mandatory offer that it has approved.

 

Himalaya (Cayman Islands) TMT Fund, Himalaya Asset Management Ltd., Xiang Xu, Kun Shen and Mengke Cai have lodged appeals against this ruling, which are under review by FINMA's Takeover and State Liability Committee.