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News

FINMA's Takeover and State Liability Committee rejects the appeals against the Swiss Takeover Board's decision 672/04 dated 1 September 2018 in the matter of SHL Telemedicine Ltd.

In its ruling 672/04 of 1 September 2018, the Takeover Board (TOB) ruled against a further extension of the previously already twice prolonged deadline 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 suspended all voting rights and the associated rights of the bidders arising from the shares of SHL Telemedicine Ltd. until the publication of a mandatory offer approved by the TOB.

Himalaya (Cayman Islands) TMT Fund, Himalaya Asset Management Ltd., Xiang Xu, Kun Shen and Mengke Cai lodged appeals against this ruling. FINMA's Takeover and State Liability Committee has rejected the appeals in its ruling of 23 November 2018.