27 September 2023
Ad hoc announcement pursuant to Art. 53 Listing Rules: Results of the Extraordinary General Meeting of GAM Holding AG
At the Extraordinary General Meeting (“EGM”) held on 27 September 2023, the shareholders of GAM Holding AG approved proposals 1 and 2 regarding the elections to the Board of Directors and the Compensation Committee, but rejected proposals 3 and 4 regarding the creation of conditional capital and the increase of the capital range.
The Board of GAM Holding AG is pleased that Rock Investment SAS ("Rock") announced on 26 September 2023 its intention to provide GAM with a mix of short- and long-term funding up to an increased total of CHF 100 million. Rock is a subsidiary of NJJ Holding, the personal holding company of Xavier Niel, and a member of the NewGAMe investor group that controls approximately 9.6% of the issued share capital of GAM. Rock has already provided short-term financing of up to CHF 20 million to cover GAM’s immediate liquidity needs.
Both NewGAMe and Rock have reiterated their long-term commitment to secure the necessary financial resources to fund GAM’s operations and provide stability for the firm.
The newly elected Board will be convened with immediate effect and may decide to hold a further EGM once the process for NewGAMe’s partial tender offer for up to 17.5% of GAM’s share capital is completed.
A full update on the voting numbers will be provided in a separate announcement shortly.
Head of Communications and Investor Relations
T +44 7890 386 699
Ute Dehn Christen
T+41 58 426 31 36
Visit us at: www.gam.com
GAM is an independent investment manager that is listed in Switzerland. Total assets under management were CHF 68 billion as at 30 June 2023, with Investment Management at CHF 21.9 billion and Fund Management Services at CHF 46.1 billion. GAM has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. It has 3,500 clients globally, of which c. 2,700 are based in Europe. Headquartered in Zurich, GAM Investments was founded in 1983 and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland.
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