Brief: GAM Holding Announces Update On Strategy

Gam Holding AG

14/12/2023 06:06

Dec 14 (Reuters) - GAM HOLDING AG  GAMH.S :
    * ANNOUNCES UPDATE ON STRATEGY, EXPECTED 2023 FINANCIAL
RESULTS,
AND SHARE BUYBACK OFFER.
    * EXPECTS TO REPORT AN UNDERLYING LOSS BEFORE TAX OF BETWEEN
CHF
45 TO 50 MILLION FOR FULL YEAR 2023
    * INTENDS TO PROPOSE AT LEAST TWO DIVERSE CANDIDATES FOR
ELECTION
TO BOARD AT 2024 ANNUAL GENERAL MEETING
    * EXPECTS TO REPORT AN IFRS NET LOSS AFTER TAX OF BETWEEN
CHF 105
TO 110 MILLION FOR FULL YEAR 2023
    * WILL LAUNCH A SHARE BUY-BACK OF UP TO A MAXIMUM OF THREE
MILLION
REGISTERED SHARES (1.88% OF SHARES IN ISSUE) TO MEET ITS
SHARE-BASED PAYMENT OBLIGATIONS
    * SHARE BUY-BACK WILL TAKE PLACE FROM 15 DECEMBER 2023 UNTIL
17
JANUARY 2024, 12:00 NOON CET, AND OFFER PRICE FOR EACH
REGISTERED SHARE IS CHF 0.425
    * EXPECTS IN 2024 TO ENTER INTO NEW PARTNERSHIPS IN
ALTERNATIVES,
COMPLETE SALE OF THIRD-PARTY FUND MANAGEMENT SERVICES BUSINESS,
LAUNCH PRIVATE SHARES STRATEGY IN EUROPE
    * PAYMENT OF SHARE BUY-BACK PRICE AGAINST DELIVERY OF
REGISTERED
SHARES IS EXPECTED TO TAKE PLACE WITH VALUE DATE 19 JANUARY 2024
    * EXPECTS IN 2024 TO COMPLETE FINAL IMPLEMENTATION STAGE OF
SIMCORP PLATFORM, ENTER INTO NEW DISTRIBUTION PARTNERSHIPS FOR
CERTAIN GEOGRAPHIES, AND TRANSFER OF MANAGEMENT COMPANY SERVICES
FOR GAM FUNDSPE

Source text for Eikon:  ID:nGNE2LRNNP 
Further company coverage:  GAMH.S 

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