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PDF Press Release
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Zurich, Switzerland – Cembra Money Bank(“Cembra”) has been informed that its major shareholder General Electric Company ("GE"; acting through its subsidiary GE Capital Swiss Funding AG) yesterday announced an offering of up to 9,460,785 shares of Cembra in an accelerated book-building process (the “Equity Offering”) to various institutional investors. The current ownership interest of GE in Cembra is 9,460,785, representing approximately 31.5% of the outstanding shares in Cembra.
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As announced on 26th of February 2015, Cembra intends to use up to CHF 100 million excess capital to buy back its shares from GE through an order in the book at the price determined in the accelerated book-building.
Cembra Money Bank will provide updates on the completion of the intended repurchase of its ordinary shares in due time.
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Contacts
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Media:
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Andreas Werz; +41 44 439 8512; andreas.werz@cembra.ch
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Investor Relations:
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Christian Waelti; +41 44 439 8572; christian.waelti@cembra.ch
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Key dates
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20 August 2015
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Publication of half-year results 2015
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27 April 2016
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Annual General Meeting 2016
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About Cembra Money Bank AG
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Cembra Money Bank is a Bank with a well-established position in Swiss consumer finance. The Bank is regulated by FINMA, holds a banking license and provides a range of financial products and services. The Bank holds leading positions in Switzerland for its Personal Loans and Auto business. It has a growing Credit Cards business based on partnering with Swiss retailers and other institutions.
Headquartered in Zurich, the Bank operates exclusively in Switzerland through a nationwide network of 25 branches as well as through alternative distribution and sourcing channels, such as the internet, credit card partners, independent agents and over 3,200 auto dealers.
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