26 September 2023
PRESS RELEASE
Ad hoc announcement pursuant to Art. 53 Listing Rules:
Rock Investment SAS announces its intention to provide financing of up to CHF 100 million to GAM Holding AG
Rock Investment SAS ("Rock"), a member of the investor group (“NewGAMe”) comprised of Newgame SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG ("GAM"), has announced today that it intends to provide GAM with a mix of short- and long-term funding up to an increased total of CHF 100 million.
Rock has already provided short-term financing of up to CHF 20 million to cover GAM’s immediate liquidity needs. The additional support announced today is subject to NewGAMe’s proposed directors being elected at GAM’s Extraordinary General Meeting (“EGM”) on 27 September 2023, but is not contingent on the outcome of any other EGM proposals.
NewGAMe has also announced Elmar Zumbuehl as its proposed candidate for CEO of GAM. Elmar Zumbuehl, a Swiss citizen, joined GAM in 2010 and is currently Global Chief Risk Officer and a member of the Group Management Board. Prior to joining GAM, he worked at Julius Baer for 10 years in a range of senior roles, including covering Julius Baer’s Asset Management business, of which GAM was part at the time.
Upcoming events:
27 September 2023 Extraordinary General Meeting
19 October 2023 Q3 2023 Interim Statement
For further information please contact:
Charles Naylor
Head of Communications and Investor Relations
T +44 7890 386 699
Media Relations
Ute Dehn Christen
T +41 58 426 31 36
Visit us: www.gam.com
Follow us: Twitter and LinkedIn
GAM
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.
Other Important Information
This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, "estimate", "aim", “project”, “forecast”, "risk", “likely”, “intend”, “outlook”, “should”, “could”, "would", “may”, “might”, "will", "continue", "plan", "probability", "indicative", "seek", “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.
Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.
This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.
Attachments
- 2023 09 26 Ad hoc Rock Investment SAS announces its intention to provide financing of up to CHF 100 million to GAM Holding AG_EN
- Zumbuehl_Elmar_GAM
