Swiss Steel Group has gone through deep crises, the markets for its products have shrunk and COVID-19 has led to a significant economic downturn. In addition, three shareholder groups had to be aligned in terms of their interest and targets relating to the company. The group has sufficient liquidity and with the capital increase it is expected to obtain sufficient equity to enable a healthy development of its business. With two strong shareholders holding at present in aggregate almost 75% of the capital, the shareholder base of the company is stable. Jens Alder has therefore decided to step down as Chairman of the Board of Directors of the company effective December 22, 2020. The Board of Directors thanks Jens Alder for his great commitment as independent Chairman of the Board of Directors in the past, very challenging years. The Board of Directors has appointed the current vice-chairman Heinrich Christen as the new chairman for the remaining term until the ordinary general meeting 2021.