By Nina Kienle
Switzerland-based software and cloud-services provider, SoftwareOne, saw a surge in its shares after the company’s founding shareholders called for an extraordinary shareholder meeting. This meeting is set to vote on a proposal that aims to replace most of the current board members.
As of 1238 GMT on Monday, SoftwareOne shares rose by 8% to CHF17.06.
The proposal, submitted by Daniel von Stockar, B. Curti Holding (the company indirectly holding SoftwareOne shares under the control of Beat Curti), and Rene Gilli, seeks the complete replacement of the board of directors, with the exception of von Stockar.
According to SoftwareOne, these three investors collectively possess around 29% of the company’s share capital.
This recent development comes after SoftwareOne’s decision last month to remain an independent entity, declining a takeover offer from Bain Capital following a comprehensive strategic review. It is worth noting that the founding shareholders were initially supportive of an earlier indicative proposal from Bain Capital last year, which eventually led to the strategic review taking place.