Extraordinary General Meeting of Julius Baer Holding Ltd.>
Extraordinary General Meeting of Julius Baer Holding Ltd.
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Zurich, 30 June 2009 --- At today's Extraordinary General Meeting ofJulius Baer Holding Ltd., the shareholders approved the separation ofJulius Baer's Private Banking and Asset Management businesses intotwo fully independent entities, both individually listed on the SIXSwiss Exchange.Following the completion of the transaction, Julius Baer Group Ltd.will focus on private banking services while GAM Holding Ltd. willconcentrate on active asset management. This move will substantiallyincrease the two companies' strategic flexibility and enhance theirmarket visibility. The transaction is expected to be completed duringthe third quarter 2009, subject to regulatory approvals.In detail, the Extraordinary General Meeting of Julius Baer HoldingLtd. passed the following resolutions: * The conversion of legal reserves info free reserves was approved. * The change of corporate purpose by amending the Articles of Incorporation was approved. * The separation of the Private Banking and the Asset Management businesses, subject to regulatory approvals, was approved with shareholders agreeing to - the distribution of a special dividend at the due date as determined by the Company - the change of name at the due date of the special dividend by amending the Articles of Incorporation - the election of Johannes A. de Gier, Hugh Scott-Barret and Dieter A. Enkelmann as members of the Board of Directors, replacing the current members at the due date of the special dividend expected at the end of the third quarter 2009. * The termination of the share buyback programme 2008-2010 approved by the Ordinary Annual General Meeting 2008 was passed with the technical cessation of the programme to be executed within in the next few days.As a result of a detailed analysis, the preferred securities in theamount of CHF 225 million will not be bought back. It is theintention to transfer the preferred securities to the balance sheetof Julius Baer Group Ltd, subject to third-party approval.The presentation to the Extraordinary General Meeting may be accessedvia www.juliusbaer.com/egm.Contacts:Media Relations Tel. +41 (0)58 888 5777Investor Relations Tel. +41 (0)58 888 5256 --- End of Message ---Julius Baer HoldingBahnhofstrasse 36, P.O. Box Zurich SwitzerlandISIN: CH0029758650; Index: SLCI, SMI, SMIEXP, SPI;Listed: Main Market in SIX Swiss Exchange;
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Datum: 30.06.2009 - 11:30 Uhr
Sprache: Deutsch
News-ID 1002357
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