GAM Holding AG announces rights take-up and number of shares sold
in its rights offering
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or in part, directly or indirectly, in the United States of
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unlawful.
Zurich, 13 November 2024
PRESS RELEASE
Ad hoc announcement pursuant to Art. 53 Listing Rules:
GAM Holding AG announces rights take-up and number of
shares sold in its rights offering
GAM Holding AG ("GAM") announces that in its
rights offering and placement of 904,464,247 newly issued
registered shares (the "Offered Shares") (the
"Offering"), 42% of the subscription rights have
been validly exercised by the end of the subscription period on
13 November 2024, at 12:00 CET. This includes the full pro
rata allocation of the newly issued Offered Shares to Rock
Investment SAS ("Rock"), a group company of GAM's
anchor shareholder NJJ Holding SAS, due to its indirect
participation in GAM through its majority controlled subsidiary
Newgame SA.
As previously announced, Rock has agreed to provide a backstop
commitment for the Offering in an amount of up to CHF 100
million (the "Rock Commitment"). Therefore, the
remaining 520,890,592 Offered Shares (excluding the full pro
rata allocation of Offered Shares to Rock) for which the
subscription rights were not validly exercised during the
subscription period were allocated to and purchased by Rock in
accordance with the Rock Commitment. As a result, Rock’s direct and
indirect shareholding rises to 774,332,093 shares representing 73%
of GAM’s issued share capital after settlement of the rights
issue.
The first trading day of the Offered Shares is expected to be
15 November 2024.
Delivery of the Offered Shares against payment of the Offer
Price is scheduled for 15 November 2024. The Offered Shares
will carry full voting rights, be eligible for dividends and other
distributions, if any, for the first time for the financial year
ending December 31, 2024, and rank pari passu in all respects
with the existing registered shares.
With the completion of the capital increase, GAM will receive
expected net proceeds of approximately CHF 98.2 million. These
proceeds will be used to repay amounts outstanding under the loan
facility granted by Rock and any residual amount will be used for
general corporate purposes.
-ends-
For further information please contact:
Investor
Relations
Magdalena
Czyzowska
T +44 (0) 207 917 2508
GAM Media Relations
Colin Bennett
T +44 (0) 20 73 938 544
Visit us: www.gam.com
Follow us: X and LinkedIn
Notes to editors
About GAM
GAM is an independent investment manager that is listed in
Switzerland. It is an active, independent global asset manager that
delivers distinctive and differentiated investment solutions for
its clients across its Investment and Wealth Management Businesses.
Its purpose is to protect and enhance its clients’ financial
future. It attracts and empowers the brightest minds to provide
investment leadership, innovation and a positive impact on society
and the environment. Total assets under management were CHF
19.0 billion as of 30 June 2024. GAM has global distribution with
offices in 14 countries and is geographically diverse with clients
in almost every continent. Headquartered in Zurich, GAM Investments
was founded in 1983 and its registered office is at Hardstrasse 201
Zurich, 8037 Switzerland. For more information about GAM
Investments, please visit https://www.gam.com/en/.
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
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Disclaimer
This document is not an offer to sell or a
solicitation of offers to purchase or subscribe for shares. This
document is not a prospectus within the meaning of the Swiss
Financial Services Act and not a prospectus under any other
applicable laws. Copies of this document may not be sent to,
distributed in or sent from jurisdictions in which this is barred
or prohibited by law. The information contained herein shall not
constitute an offer to sell or the solicitation of an offer to buy,
in any jurisdiction in which such offer or solicitation would be
unlawful prior to registration, exemption from registration or
qualification under the securities laws of any jurisdiction. The
offer and listing of new securities was made solely by means of,
and on the basis of, the prospectus published by GAM Holding AG for
such purpose. Copies of such prospectus (and any supplements
thereto) are available free of charge from at GAM Holding AG,
Investor Relations, Hardstrasse 201, 8005 Zürich, Switzerland
(email: investorrelations@gam.com).
This document is not for publication or
distribution in the United States of America (including its
territories and possessions, any State of the United States and the
District of Columbia), Canada, Japan or Australia or any other
jurisdiction into which the same would be unlawful. This document
does not constitute an offer or invitation to subscribe for or
purchase any securities in such countries or in any other
jurisdiction into which the same would be unlawful. In particular,
the document and the information contained herein should not be
distributed or otherwise transmitted into the United States of
America or to publications with a general circulation in the United
States of America. The securities referred to herein have not been
and will not be registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), or the laws of
any state and may not be offered or sold in the United States of
America absent registration under or an exemption from registration
under the Securities Act. There will be no public offering of the
securities in the United States of America.
The information contained herein does not
constitute an offer of securities to the public in the United
Kingdom. No prospectus offering securities to the public will be
published in the United Kingdom. In the United Kingdom this
document is only directed at persons who (i) are qualified
investors and who are also (ii) investment professionals falling
within article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "FSMA Order"); (iii) persons
falling within Articles 49(2)(a) to (d), "high net worth companies,
unincorporated associations, etc." of the FSMA Order and (iv)
persons to whom an invitation or inducement to engage in investment
activity within the meaning of Section 21 of the Financial Services
and Markets Act 2000 may otherwise be lawfully communicated or
caused to be communicated (all such persons together being referred
to as "relevant persons"). The securities are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should
not act or rely on this document or any of its contents.
In any member state of the European Economic
Area (each a "Relevant State") this document is only addressed to
qualified investors in that Relevant State within the meaning of
the Prospectus Regulation.
- GAM Holding AG announces rights take-up and number of shares
sold in its rights offering
Gam (LSE:0QN3)
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