SinterCast’s largest shareholder, Gandhara Capital, has sold its shares. Can SinterCast comment on the transaction?


Shareholder, name withheld

I would like to begin by putting the question into perspective. The Gandhara transaction isn’t directly about its shareholding in SinterCast. Rather, Gandhara made a voluntary decision to close its entire hedge fund and return the invested funds (approximately USD 2.3 billion) to its investors. The SinterCast shares represent less than 0.1% of the total Gandhara fund.

Over the past months, Gandhara has divested its holdings in a controlled manner and, in parallel, has sought a placement for the SinterCast shares. Gandhara has now succeeded to place the shares with a new nominee shareholder, in an off-the-market placement. SinterCast does have direct contact with the new nominee shareholder and I can confirm that the new shareholder believes in the SinterCast technology and has a long term perspective on the SinterCast investment. For SinterCast, the transaction is successfully concluded, with a new and supportive major shareholder, and we continue to focus on the core business.

In closing, I would also like to take this opportunity to thank Gandhara for its longstanding support of SinterCast and its cooperation in placing the SinterCast shares.