On 16 November 2023, EFG International announced as part of its 10 months trading update that it intended to buy back up to 3 million own shares until the end of April 2024 in order to fund variable deferred share-based employee compensation. Since then, 644,465 EFG shares have been repurchased (as of end of 26 April 2024). EFG International is today announcing that it has decided to extend the end date of its buyback of up to 3 million of its own shares from the end of April 2024 to the end of July 2024. The purchase is being executed through open market purchases in a market-sensitive manner by a third party.
This share buyback complements the existing and ongoing public share buyback programme announced on 26 July 2023 to repurchase up to a maximum of 6 million EFG shares by 11 September 2024 at the latest through a second trading line on SIX Swiss Exchange and to subsequently cancel those shares.
The number of shares repurchased within and outside the buyback programme will be reported on https://www.efginternational.com/investors/share-repurchase while the share buyback programme is ongoing.
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About EFG International
EFG International is a global private banking group offering private banking and asset management services and is headquartered in Zurich. EFG International’s group of private banking businesses operates in around 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss Exchange.
Important Disclaimer
This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.
This release contains specific forward-looking statements that reflect EFG’s intentions, beliefs or current expectations and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward-looking statements by using the words “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “seek”, “plan”, “predict”, “continue” and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous.
These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.
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Source:
EFG International AG
efginternational.com
