Ad hoc announcement: Results of the Extraordinary General Meeting of GAM Holding AG
September 27 2023 - 4:50AM
Ad hoc announcement: Results of the Extraordinary General Meeting
of GAM Holding AG
27 September 2023
PRESS RELEASE
Ad hoc announcement pursuant to Art. 53 Listing Rules:
Results of the Extraordinary General Meeting
of
GAM Holding AG
At the Extraordinary General Meeting (“EGM”) held on 27
September 2023, the shareholders of GAM Holding AG approved
proposals 1 and 2 regarding the elections to the Board of Directors
and the Compensation Committee, but rejected proposals 3 and 4
regarding the creation of conditional capital and the increase of
the capital range.
The Board of GAM Holding AG is pleased that Rock Investment SAS
("Rock") announced on 26 September 2023 its intention to provide
GAM with a mix of short- and long-term funding up to an increased
total of CHF 100 million. Rock is a subsidiary of NJJ Holding, the
personal holding company of Xavier Niel, and a member of the
NewGAMe investor group that controls approximately 9.6% of the
issued share capital of GAM. Rock has already provided short-term
financing of up to CHF 20 million to cover GAM’s immediate
liquidity needs.
Both NewGAMe and Rock have reiterated their long-term commitment
to secure the necessary financial resources to fund GAM’s
operations and provide stability for the firm.
The newly elected Board will be convened with immediate effect
and may decide to hold a further EGM once the process for NewGAMe’s
partial tender offer for up to 17.5% of GAM’s share capital is
completed.
A full update on the voting numbers will be provided in a
separate announcement shortly.
For further information please contact:
Charles Naylor
Head of
Communications and Investor RelationsT +44 7890 386 699
Media
Relations Ute
Dehn Christen T +41
58 426 31 36
Visit us: www.gam.comFollow us: Twitter and LinkedIn
GAM
GAM is an independent investment manager that is listed in
Switzerland. Total assets under management were CHF 68 billion as
at 30 June 2023, with Investment Management at CHF 21.9 billion and
Fund Management Services at CHF 46.1 billion. GAM has global
distribution with offices in 14 countries and is geographically
diverse with clients in almost every continent. It has 3,500
clients globally, of which c. 2,700 are based in Europe.
Headquartered in Zurich, GAM Investments was founded in 1983 and
its registered office is at Hardstrasse 201 Zurich, 8037
Switzerland.
Other Important Information
This release contains or may contain statements that constitute
forward-looking statements. Words such as “anticipate”, “believe”,
“expect”, "estimate", "aim", “project”, “forecast”, "risk",
“likely”, “intend”, “outlook”, “should”, “could”, "would", “may”,
“might”, "will", "continue", "plan", "probability", "indicative",
"seek", “target”, “plan” and other similar expressions are intended
to or may identify forward-looking statements.
Any such statements in this release speak only as of the date
hereof and are based on assumptions and contingencies subject to
change without notice, as are statements about market and industry
trends, projections, guidance and estimates. Any forward-looking
statements in this release are not indications, guarantees,
assurances or predictions of future performance and involve known
and unknown risks, uncertainties and other factors, many of which
are beyond the control of the person making such statements, its
affiliates and its and their directors, officers, employees, agents
and advisors and may involve significant elements of subjective
judgement and assumptions as to future events which may or may not
be correct and may cause actual results to differ materially from
those expressed or implied in any such statements. You are strongly
cautioned not to place undue reliance on forward-looking statements
and no person accepts or assumes any liability in connection
therewith.
This release is not a financial product or investment advice, a
recommendation to acquire, exchange or dispose of securities or
accounting, legal or tax advice. It has been prepared without
taking into account the objectives, legal, financial or tax
situation and needs of individuals. Before making an investment
decision, individuals should consider the appropriateness of the
information having regard to their own objectives, legal, financial
and tax situation and needs and seek legal, tax and other advice as
appropriate for their individual needs and jurisdiction.
- 2023 09 27 Ad hoc Results of the Extraordinary General Meeting
of GAM Holding AG EN
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