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Notiziario Marketpress di
Mercoledì 09 Marzo 2005
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Pagina1 |
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UBS COMMENCES NEW SHARE BUYBACK PROGRAM |
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Zurich / Basel, 9 March 2005 - On 8 March 2005, Ubs will commence another share buyback program leading to the cancellation of shares. As in previous years, the repurchase will take place over a “second trading line” on virt-x. Ubs will commence another share buyback program leading to the cancellation of shares. As in previous years, the repurchase will take place over a "second trading line" on virt-x. On this second line, shares will be purchased exclusively by Ubs. The second line will be available from 8 March 2005 to 7 March 2006. The repurchased shares must be cancelled following shareholder approval at the 2006 Annual General Meeting (Agm). The program, aimed at institutional investors, allows tax-efficient cancellation of shares. Ubs’s Board of Directors has established a maximum buyback limit of Chf 5 billion or approximately 4.4% of total share capital. This represents a limit and not a target, and Ubs will continue to prioritize attractive opportunities for investing in the growth of its businesses. While maintaining its strong capitalization and ratings, Ubs is committed to returning to shareholders capital in excess of its business needs. As of 31 December 2004, Ubs’s Bis Tier 1 Ratio stood at 11.8%. This second line program supersedes the share buyback program launched in March 2004. Under that program – which had a limit of Chf 6 billion – 39,935,094 shares were repurchased. The shares were purchased at an average price of Chf 88.72 for a total value of Chf 3.5 billion. Following the approval of the Agm on 21 April 2005, these shares will be cancelled in summer 2005.
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