Geneva, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The investor group comprised of NewGAMe SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG [GAM:SWX] (“GAM”), welcomes the decision of a substantial majority of GAM's shareholders not to tender their shares into the Liontrust offer.
Liontrust announced today that its exchange offer for GAM had only gathered 33.45% acceptance – below the 66.7% success threshold needed. NewGAMe now expects Liontrust to withdraw its offer for GAM.
The failure of Liontrust's offer means focus must now shift towards the successful turnaround of GAM. Moving towards that goal, constructive discussions have begun with GAM about adequate financing and organizing an extraordinary general meeting to renew the board. NewGAMe is looking forward to engaging with all stakeholders at GAM, in particular fund management teams, clients and distributors with the support of GAM's board and senior management.
