At the annual general meeting of shareholders held on 24 April 2015, the shareholders authorised the Board of Directors of VP Bank to buy back registered shares up to a maximum of 10% of the share capital. VP Bank has decided to make use of this authorisation and build on the three previously successful programmes carried out in 2015 and 2016. The repurchased registered shares are to be used for future acquisitions or for treasury management purposes.
Within the framework of the public share buyback programme, VP Bank is prepared to acquire a maximum of 180,000 registered shares A. The buyback programme for the registered shares A on the standard trading line on SIX Swiss Exchange will run from 27 June 2018 up to 28 June 2019. However, VP Bank’s holdings of registered shares A will not exceed the amount permitted under the above-mentioned authorisation given by the annual general meeting of shareholders at any time (up to a maximum of 601,500 shares, which corresponds to 10% of all registered shares A).
VP Bank also decided to repurchase a maximum of 456,554 of its own unlisted registered shares B at a price of CHF 21.30. The repurchase of own registered shares B will be carried out by VP Bank, and the relevant shareholders will be directly informed by letter.
As the shares will not be cancelled, both capital structure and voting rights will remain the same. VP Bank has engaged Zürcher Kantonalbank to carry out the repurchasing of the listed registered shares A.
Further information about the buyback programme for shares on the standard trading line is available on our website at www.vpbank.com/buyback.