Repurchasing own shares
Repurchasing of own shares – Second trading line on SIX Swiss Exchange Ltd
Biel/Bienne (Switzerland), 3 February, 2016 – The Swatch Group intends to repurchase own shares up to a maximum value of CHF 1 billion for a later reduction of capital or for other purposes.
Swatch Group repurchases the shares for a reduction of capital or to hold them as treasury shares for at least six years starting from the repurchase date. At the end of a period of six years, Swatch Group has the option, apart from a reduction of capital, to use the shares for acquisitions, equity-linked transactions, for other purposes or to resell the shares. The repurchase of shares will start on 5 February 2016 and will last until 4 February 2019 at the latest.
The volume of repurchased shares of a maximum of CHF 1 billion will be half on bearer and half on registered shares. The repurchase of bearer respectively registered shares will take place on SIX Swiss Exchange Ltd on a second trading line each, established solely for this purpose.
The Swiss federal withholding tax will be applied to shares repurchased via second trading line at a rate of 35% computed on the difference between the repurchase price and its nominal value.
The maximum authorized buy back volume per day in accordance of Article 123 (1) (c) FMIO(Financial Market Infrastructure Ordinance) is for the bearer shares 84 296 pieces and for the registered shares 38 551 pieces.