Head may be forced to go private following a negative vote on a resolution proposed at a general shareholders' meeting on Dec. 3 to increase the nominal value of its shares by drawing on the company's own reserves. The Vienna Stock Exchange had informed Head that its listing would be compromised without the capital increase. The company announced last month that it had acquired 4,844,162 shares, using its own cash reserves, following an unconditional offer to purchase them at a unit price of €1.60. Following the buyback, minority shareholders made up 3 percent of the issued capital.

Topics