At its recent Extraordinary General Meeting, the shareholders of Rieter Holding approved all proposals from the Board of Directors.

They agreed to reduce ordinary capital by lowering the nominal value of shares, as well as increasing it through a rights issue and a private placement. They also approved the Board of Directors’ proposal to reintroduce the capital band and amend the company’s Articles of Association. The meeting was attended by 176 shareholders, their representatives, and an independent proxy.

A leading global supplier for manufacturing yarn from staple fibers in spinning mills, Rieter develops and manufactures machinery, systems, and components used to efficiently convert natural and man-made fibers into yarns. The company’s advanced spinning technology supports sustainability in the textile industry by minimizing resource use. The company has been in business for 230 years, operates 18 production sites in ten countries, and employs a global workforce of around 4,560 people, with approximately 15 per cent located in Switzerland.