Wed, Apr 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Swiss fund of funds house Gottex to hold EGM to approve share buyback

Monday, July 16, 2012
Opalesque Industry Update - Gottex Fund Management Holdings Limited, a leading independent global alternative asset management group, announces its plans to hold an extraordinary general meeting (EGM) on 8 August 2012 for the purpose of considering a proposed share buyback which was recently approved by the Company’s Board of Directors. The objective of the share buyback programme - which will be proposed at the EGM and is subject to shareholders’ approval - is to offset the dilution effect of the newly to be issued shares which form part of the consideration contemplated by the recently announced Penjing acquisition.

The key parameters of the proposed programme are as follows:

• the maximum number of Company shares authorised to be acquired is 1,750,000 shares, which is the maximum number of shares contemplated under the Penjing transaction;
• the minimum price to be paid shall be 10% below the average market price of the shares on the SIX Swiss Exchange (Exchange) on the most recent trading day before the purchase is made;
• the maximum price to be paid shall be 10% above the average market price of the shares on the Exchange on the most recent trading day before the purchase is made;
• on any given trading day, purchases shall be limited to a maximum of 25% of the average daily trading volume of the shares on the Exchange calculated by reference to the previous 30 trading days; and
• such authority shall expire on the earlier of 8 February 2014 or the conclusion of the Company's annual general meeting in 2013.

Commenting, Joachim Gottschalk, Chairman and CEO, stated:

“Management proposed the share buyback as it believes that at current price levels the company and its shareholders will benefit from buying back its own shares to help offset the dilution effect of the newly issued shares, which form part of the consideration contemplated by the Penjing acquisition. The Board has unanimously approved this proposal and we encourage our shareholders to do the same.”

www.gottexholdings.com

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its