US Sanctions Against Major Shareholder of Highlight Event and Entertainment AG Lifted

Highlight Communications AG (HLC) announced that the US Office of Foreign Assets (OFAC) has removed Alexander Studhalter, a major shareholder of Highlight Event and Entertainment AG (HLEE), from its sanctions list. This news was disclosed on June 10, 2024, by HLC, which is controlled by HLEE.

Alexander Studhalter, who holds a 19.99% stake in HLEE through the Swiss International Investment Portfolio AG, had been subject to US sanctions since November 2022. The sanctions had prompted him to resign from his Board positions in HLC and related companies, coinciding with a reduction of his stake in HLEE due to a capital increase.

The lifting of the sanctions now provides legal certainty, which HLC believes will enhance the confidence of customers, business partners, and investors, fostering positive business outcomes.